When a balance transfer may help
A lower promotional rate can reduce interest, but the transfer fee increases the starting balance. The most favorable outcome usually occurs when the balance is repaid during the promotional period and new purchases are avoided.
Offer details to verify
- Transfer fee and maximum fee
- Promotional expiration date
- APR after the promotion
- Whether new purchases receive a grace period
- Late-payment and penalty-rate terms
Educational estimate only. Review the issuer's complete offer and account agreement before transferring a balance.