How Does a Balance Transfer Work?
A balance transfer is a move where you transfer your existing debt from one credit card to another. This can be a great way to get a lower interest rate on your existing debt, and it can also help you to get a new card with a better interest rate. Balance transfers can be done online or over the phone, and they usually take about two weeks to complete.
A balance transfer is a type of credit card transaction in which a customer transfers a balance from one credit card to another. Balance transfers are often used by people who are trying to get a lower interest rate on a new credit card.
To complete a balance transfer, the customer must first find a new credit card that they want to transfer the balance to. The customer then contacts the credit card company and requests a balance transfer. The credit card company will then transfer the balance from the old card to the new card.
The interest rate on a balance transfer will usually be higher than the interest rate on the new credit card. The interest rate on a balance transfer will also depend on the credit score of the customer.
