Take Our Poll: Do You Believe in Quiet Quitting? Balance Transfer Cards To Help Your Debt Anxiety Thus, you should only consider a balance transfer card if you are ready to start repaying your credit card debt. The APR on these cards can be as high as - or higher than - the APRs you have on other credit cards.
The intro period doesn’t last forever, though. For instance, they might charge you 3% of the transferred amount during the introductory period and 5% thereafter.īecause balance transfer cards often have a low introductory APR, they are ideal for repaying credit card debt balances on other cards. However, most balance transfer cards charge a fee to make transfers. Many balance transfer credit cards have a year or longer introductory period.Īny balance you transfer to your balance transfer credit card will typically have this lower APR during the introductory period. Often, the intro APR for balance transfers is 0%, which might also be extended to purchases. However, balance transfer cards have the added benefit of a favorable introductory APR for balance transfers.
What Is a Balance Transfer Credit Card?Ī balance transfer credit card has many of the same features as other credit cards. If not, you may end up in the same debt cycle as before. Note that you should only pursue this strategy when ready to pay off your balances.
To help quell your debt anxiety, we’ll take a look at some of the best balance transfer credit cards.
0 kommentar(er)
