Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [balance-transfer]

52 questions
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Is it worth it to use "balance transfer" credit cards, to take advantage of low-rate offered as sign-up incentives?

I'm attracted by the low interest, but scared of having too many credit cards and losing track of payments, or worse, adversely-affecting my credit rating or future borrowing potential by having "too much credit". But maybe it's worth it for the…
Nat_Rea
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Can I use a balance transfer offer to pay off someone else's credit card debt?

A family member of mine owes significant debt on several high-interest credit cards. They are struggling to make much more than the minimum payments, which is keeping them in a cycle of debt. I have an offer for a credit card with 0% interest for 21…
MackM
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In layman's terms, what is balance transfer?

I know very little about my credit cards, all I know is that I make sure to do the minimum payments on time. Some suggested that I do balance transfer? What is that suppose to mean? Can someone pay all my debts from different credits cards and I…
Ulkoma
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0% intro APRs complicating payoff plans

So I'm in not-the-best™ position with about 15K in undesirable credit card debt (And another 5K in permanent no-interest deferred payment plans). I'm trying to calculate what the optimal payoff strategy is, but I'm coming up confused. Here's a…
Christ Schlacta
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What does zero interest on credit card balance transfers mean in practical terms?

I'm considering applying for another credit card with my existing bank. (It's a Platinum Credit Card if any one is interested). The site states: 0% on balance transfers for 16 months What does this actually mean in layman's terms? Also, what would…
calum
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How is "Balance Subject To Interest Rate" calculated?

I was approved for a balance transfer of $2,500 to a card, and that month my statement looked like this: INTEREST CHARGES (APR 2013) -------------------------------------------------------------------- Balance Type APR …
Andrew Cheong
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Possible to use balance transfers to avoid interest with major credit cards?

I recently paid off a balance transfer and then this thought occurred to me. Let's say you have $3000 of debt outstanding on a credit card. The goal is not to pay interest while you work to save the $3000 to pay the debt off. Is it possible to…
Kirk Ouimet
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Transfering balance between VISA cards in different continents

Is it possible to transfer credit card balance from a VISA card issued in Europe to a VISA card issued in the US? I've never done balance transfers before, and I (US card holder) need to help my parents (Europe card holder) pay off their CC debt.
Mark13426
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Is it a bad idea to transfer all my money via ATM?

I recently moved out of state and have all my money in the bank where I used to live. I've opened up an account at a credit union here, and want to transfer my money from my first bank to this one. Unfortunately, I can't simply write a personal…
Corey
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Mint.com: How to set up savings line items in budget: As expense, income, or neither?

This question is really more specific to Mint.com since I do all of my personal account management there. In the Budgets tab, I always have the unaccounted transactions at the bottom of the page where my Savings transactions sit. For a time, I would…
NoCatharsis
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How to dispute a balance transfer that never posted with other creditor?

Three months ago, I did a credit union credit card balance transfer at 0% to pay down three student PLUS loans. In the payments, the account number and sequence number for the three loans were given. The student loan lender returned two of the…
WilliamKF
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How to interpret this paragraph from a credit card company

A credit card company has sent me an offer of a balance transfer with 0% interest until November 2017. Their Q&A section has this question: Q: If I take advantage of this offer, will it affect future interest charges on my new purchases? The…
user24155
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High credit utilization, some high interest - but credit score not overly bad. How to attack debt in this situation?

I presently have: Credit Card, £2250 balance, interest rate of 17.43% Credit Card, £1500 balance, interest rate of 39.9% (3.5% min payment) Credit Card, £2400, interest rate of 34% Overdraft of £1300 Vehicle finance, car value approximately £7995,…
t0mgerman
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What does this section about revolving balances in a credit card TAC mean?

So, I'm about to hit the end a promotional period on a credit card that I used to buy an engagement ring. I'm looking at about $3000 in interest added back onto the card, which I don't really want, so I'm looking to transfer the balance to a new…
Sidney
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Can I use balance transfer to buy car?

I am in market to buy new car but I am a little short on money. I could finance the car but if buy on cash, I will qualify for additional savings up to $1000. Furthermore even if I finance the car directly, I will be in position to pay it off sooner…
zadane
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