A balance transfer is when you shift all the debt you owe (aka the balance) on one credit card or loan at a higher interest rate – over to a different credit card at a lower interest rate. Some of these credit cards even offer an introductory offer of 0% APR for anywhere from 6 to 21 months.
Best for individuals who have a minimum 680 FICO, are having trouble paying current credit card bills, and don’t have only a small balance to transfer. One of the only cards offering 0% on new purchases.
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