How do balance transfers work credit card

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If you use the card to make new purchases, be aware that you may incur interest on those charges from the day you make them.

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Bmo harris bank site	Otherwise, the lender may continue to charge interest or fees if there was any amount leftover. So applying for a card with a lower APR or interest rate might help if you plan to keep using the card after repaying the transferred debt. Balance transfer cards can be a helpful tool to repay debt. If you're consulting a credit card comparison website, be aware that these sites typically get referral fees from credit card companies when a customer applies for a card through the website and is approved. The Bottom Line. That said, details and costs associated with these transfers are varied. Related Articles.

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What is a balance transfer? How do balance transfers work? - Banking Products - HSBC UK
A credit card balance transfer is when you move the amount you owe (the balance) to another credit card. The new interest rate on the balance you transfer may. A balance transfer is when you move debt from one credit card to another. You'll still owe the same amount, just on a different card. Credit card balance transfers allow you to move debt from an existing credit card account to a new card at a lower interest rate.