Whats a balance transfer?

i saw a credit card offer this online and people talk about it,but, i never knew what it meant or what does balance transfer do??? someone explain it 2 me =]

Whats a balance transfer?credit union

A balance transfer is simply transferring the balance from one credit card to a 2nd credit card (usually a new card).

Example. Credit Card 1 you owe $500 @ 18% interest. You get a new credit card that is offering balance transfers @ 0% interest. You can transfer the $500 from Credit Card 1 where you have to pay high interest, to credit card 2 . This will pay off credit card 1, and now credit card 2 you will owe the $500. Alot of people will do this, so that they can pay money owed at less %.

Whats a balance transfer?

loan

If you had another credit card and owed a balance of $2,000 you can transfer that to your new card. Why transfer a balance? Because the new card might be offering a deal like lower interest rate then you are paying now for the balance to be transferred.

Then you owe a balance $2,000 on the new card. If you kept this up monthly, you might never have to pay that balance! :)|||That means you move the amount you owe from you current credit card company to another credit card company... usually one charging a lower rate of interest.|||A balance transfer is when you transfer the balance of one card to another. You can transfer all or part of your balance. What the credit card company does is make a payment for you to the other card. Be careful, most of the time they charge you a higher interest rate since it is a cash advance. Also, they will start charging you interest as soon as it is done, unlike a credit card purchase. They can also charge you a transfer fee|||A credit card balance transfer is the act of moving an existing debt from one credit card to another credit card. With a balance transfer, the existing balance is transferred to another credit card and then is subjest to the new card%26#039;s interest rates and fees.

Check out this FAQ for more info..

http://www.e-wisdom.com/credit-cards/bal...|||By taking up a right introductory offer of 0% and then switching over your balance to another card with equivalent plan, just when the old one is set to end, you can have massive savings. However look out for the following benefits.

http://debt-trap.com/category/Credit-Car...