Balance Transfers | Credit Card Topics

What is a Balance Transfer Credit Card? 2019’s Top 0% Offers

By: Marcie Geffner, 7/16/2019

A balance transfer credit card is a credit card that lets you transfer your existing balance to that card from another card. The primary purpose of a balance transfer is to take advantage of a low or 0% introductory annual percentage rate (APR) offer on the new card so you can pay off your balance faster and save money while you do it. A balance transfer may also allow you to consolidate balances for multiple cards with multiple rates and payments into one card with one rate and... read more »

20 Best Credit Cards with No Interest for 12+ Months

By: Eric Bank, 5/31/2019

Fierce competition among credit card companies motivates them to appeal to the masses in several ways. One of their most potent marketing ploys is to offer no-interest borrowing and balance transfers for new cardmembers. Our experts have identified the 20 best credit cards with no interest for at least one year. This can be especially useful if you want to charge a big-ticket item or consolidate your credit card balances. Read on to learn which cards give you the best interest-free... read more »

13 Best Credit Cards to Transfer High Balances

By: Aaron Crowe, 5/3/2019

American households carry an average credit card debt of $9,333, according to a recent analysis. About 41% of households carry some sort of credit card debt, and paying off $9,333 can take years. It would take someone 50 months, or about four years, to pay off the debt, assuming a 14% interest rate — which is an average rate for existing credit card accounts — a payment of $250 per month, and avoiding ringing up any new charges. If you’re not paying off your credit card in... read more »

14 Best Credit Cards for Balance Transfers in 2019

By: Marcie Geffner, 4/5/2019

Many credit card companies offer incentives to encourage you to transfer a balance from another card. The most common incentives are no balance transfer fee and a 0% introductory annual percentage rate (APR) for a year or so if you make the transfer within a set time after you first get the card. If you normally carry a balance, transferring your debt from another card to one with a balance transfer incentive could help you manage that debt and pay it off sooner. When you shop... read more »

26 Best Balance Transfer Credit Cards of 2019

By: Brittney Mayer, 9/17/2018

Credit card debt is a drag. And that drag only gets worse when you're stuck paying high interest fees, making it seem as though you'll never pay down your balance. For many consumers, a balance transfer credit card can make a big difference in the time — and money — it takes to pay down credit card debt. But not all credit cards are good balance transfer cards. No, the best cards for balance transfers are cards with low fees and generous intro-APR offers, with features that fit... read more »

6 Best Credit Card Consolidation Loans

By: Brittney Mayer, 5/4/2018

In a lot of ways, collecting credit card debt can be like putting on weight. The problem builds slowly over time, largely unnoticed, until, one day, you find that you've outgrown your belt (or your credit card limit). Unfortunately, both losing weight and paying down debt can be a challenge, especially when compounded by other complications, such as a personal injury — or high credit card interest. For some consumers, credit card consolidation can be the cure for high interest... read more »

9 Best Balance Transfer Credit Cards for Fair Credit

By: Ashley Dull, 12/11/2017

Imagine you are renting a storage unit for $50 a month. One day you find another company that will rent you a similar storage unit for $30 a month. Since it's obviously a better deal, you move the contents from the pricier storage unit to the less expensive one — and save $20 each month. Now, replace "storage unit" with "credit card," and you have the essence of a credit card balance transfer. The idea is to move your balance from a card with a higher interest rate to one with a... read more »

9 Best No Balance Transfer Fee Credit Cards (2019)

By: Brittney Mayer, 9/28/2017

Few things can be as disheartening for those with hefty credit card debt than watching your minimum payment steadily increase -- while your principal balance stays the same. Unfortunately, when interest fees start piling up on top of your existing credit card balances, your payments may not make much of a dent in the debt heap. That's because your payments go to your interest first and your balance second. Depending on the state of your debt, your entire minimum payment could be... read more »

10 Best Credit Cards for Balance Transfers and Rewards (2019)

By: Ashley Dull, 9/22/2017

As of June 2017, the average American household with credit card debt had a total revolving debt of $10,955. If each card with a balance charges the market average 16.7% interest rate, then the typical household will pay approximately $1,830 a year in interest on their credit card debt. Thankfully, those with good to excellent credit can take advantage of balance transfers to avoid forking over thousands in interest fees. A balance transfer does exactly what it says: it transfers... read more »

What is a Credit Card Balance? — Top 0% Transfer Offers

By: Ashley Dull, 9/6/2017

The word “balance” generally represents stability, whether referring to an equal distribution of weight or your mental well-being. This, of course, doesn't have quite the same meaning in regards to your credit card. When you get a new credit card, you’ll receive a monthly statement summarizing the previous month’s purchases, even if there were none. In bold letters, usually somewhere near the top of the statement, you’ll see the word BALANCE — this is what “credit card... read more »

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