Some cards with 18 to 21
month promotional balance transfer offers can potentially help you escape high interest rates on an existing balance.
After the introductory period ends, the standard variable APR for purchases will be applied to
unpaid promotional balances and new balance transfers.
Most promotional balance transfer offers have a specific deadline — often 12 to 15 months after the balance is transferred over.
Of the 44 cards
advertising promotional balance transfer rates, 28 cards give consumers 90 days or fewer to transfer balances in order to claim the promotional interest rate.
Note that the savings shown are based on the difference in total compound interest charges between the higher APR cards you entered and the
lower promotional balance transfer APR, net of transfer fess.
0 percent balance transfer offers continue to disappear Despite sending out more offers, there are
fewer promotional balance transfer offers available, according to Credit Suisse.
Expect short windows While the length
of promotional balance transfer APR offers has grown longer, the time in which new cardholders have to make promotional rate - eligible transfers is often short.
Only one of the cards in our survey, the Capital One QuicksilverOne Rewards card (average credit), currently offers a 0 -
percent promotional balance transfer rate and no fee to new customers.
Note that the savings shown are based on the difference in total compound interest charges between the higher APR cards you entered and the
lower promotional balance transfer APR, net of transfer fees.
The issuer eliminated the card's interest - free offer on purchases the following week and reinstated the card's 15 -
month promotional balance transfer offer.
You may effectively manage your own debt without outside assistance if your credit score makes you qualify for credit cards
with promotional balance transfer offers and credit line sufficient to cover main part of your debt.
2) Would it be smart / financially responsible to get another CC w /
a promotional balance transfer rate and transfer what left of the consolidation loan to it saving a ton of interest?
If you plan to carry a balance and
the promotional balance transfer offer you are considering does not have a similar promotional APR (including promotional period) on purchases, you may want to avoid using that credit card for new purchases.
Find
a promotional balance transfer deal on CreditDonkey.
Regular account terms apply to non-promotional purchases and, after the promotion ends, to
promotional balance.
In these scenarios, the bank must apply the full payment to
the promotional balance during the last two months of the offer.
Interest will be charged to you account from the purchase date if
the promotional balance, including optional charges, is not paid in full within 6 months or if you make a late payment.
Regular account terms apply to non-promotional purchases and, after promotion ends, to
promotional balance.
Also,
promotional balance transfers to the Citi ® Double Cash must be made within 4 months of card approval.
With these 0 % offers, if you don't pay off
the promotional balance in full on time, you will be charged retroactive interest back to the purchase date.
Normally
a promotional balance transfer rate only applies as long as the consumer is in good standing.
Phrases with «promotional balance»