How Does a Credit Card Balance Transfer Work?
A credit card balance transfer essentially refers to the act of transferring your credit card debt from one credit card to another for a temporary reduction in the interest rate being charged on your balance.How Low Can You Go?There is great competition among credit card companies to get you to use their card. In light of this fact, it is possible to find transfer rates as low as three, one, or zero percent.Who is Eligible?All you need to perform a credit card balance transfer is a credit card balance, a mailbox, and a Social Security number.Associated CostsThe act of transferring a credit card balance is usually performed by the credit card company to which you’re transferring the balance.Finding A Credit Card CompanyAlmost all credit card companies perform credit card balance transfers in one form or another. It is always a good idea to shop around a bit to find the lowest rate that covers the longest grace period possible.Fine PrintSome credit card companies will include a number of
