Transfers to Existing Cards. Personal Loan Comparison. Who can qualify for a balance transfer card? Do balance transfers hurt your credit? Is it better to do a balance transfer or pay off? What is the downside of balance transfers?

The Bottom Line. Credit Cards Balance Transfer Cards. Key Takeaways Credit card balance transfers are typically used by consumers who want to save money by moving high-interest credit card debt to another credit card with a lower interest rate.

Balance transfer credit card offers typically come with an interest-free introductory period of six to 18 months, though some are longer. Many credit transfers involve transfer fees and other conditions. Any violation of the cardholder agreement can potentially nullify the introductory APR and trigger penalty rates to be applied.

Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts.

We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Open a New Bank Account. Advertiser Disclosure ×.

The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.

Part Of. Related Articles. Partner Links. Related Terms. What Is Debt Consolidation and When Is It a Good Idea? Debt consolidation is combining several loans into one new loan, often with a lower interest rate. It can reduce your borrowing costs but also has some pitfalls.

What Is a Purchase APR? Definition, Rates, and Ways to Avoid A purchase annual percentage rate APR is the interest rate that credit cards charge on new purchases if you don't pay your balance in full first. Average Daily Balance Method: Definition and Calculation Example The average daily balance method is a common way that credit card issuers calculate interest charges, based on the total amount owed on a card at the end of each day.

What Is a Debt Relief Program? A debt relief program is a method for managing and paying off debt. It includes strategies specific to the type and amount of debt involved.

Learn how it works. What Is Reloading in Finance? Reloading is the practice of taking out a new loan to pay off an existing loan, obtain a lower interest rate, or consolidate debt.

Learn how reloading works. Minimum Finance Charge: What It Is, How It Works, Example Minimum finance charges kick in when the interest that a credit card holder owes on their outstanding balance for that month falls below a certain amount. Investopedia is part of the Dotdash Meredith publishing family.

Please review our updated Terms of Service. Cookies Settings Reject All Accept All. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

Terms apply to the offers listed on this page. At Bankrate, we have a mission to demystify the credit cards industry — regardless or where you are in your journey — and make it one you can navigate with confidence.

Our team is full of a diverse range of experts from credit card pros to data analysts and, most importantly, people who shop for credit cards just like you. With this combination of expertise and perspectives, we keep close tabs on the credit card industry year-round to:.

At Bankrate, we focus on the points consumers care about most: rewards, welcome offers and bonuses, APR, and overall customer experience.

Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels. At each step of the way, we fact-check ourselves to prioritize accuracy so we can continue to be here for your every next.

Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens.

We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers.

Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades.

Bankrate follows a strict editorial policy , so you can trust that our content is honest and accurate. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. com is an independent, advertising-supported publisher and comparison service.

We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products.

Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site.

While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service. Many credit card issuers offer balance transfer credit cards with introductory 0 percent APR periods that allow you to pay down what you owe interest-free for periods of a year or longer — even up to 21 months.

With the right intro APR offer, you can avoid costly interest charges while you work to pay off your transferred balances, helping you pay down your debt faster while saving you money. Like many things involving your personal finances, balance transfers have pros and cons worth considering.

Take the necessary time for research and reflection before applying for a new card. Here are a few things to look for when comparing balance transfer cards :. Good for - having no fee to transfer your balances.

No annual fee Use worldwide at Mastercard® locations, in-store and online. Information Message. This offer is available on purchases made and paid off in full in the first 3 months of opening your account After the first 3 months, standard rates will apply.

Recommended Provider. What you should know about balance transfers. You can transfer a balance move debt from most other credit cards or store cards to your NatWest credit card. Some exclusions apply.

You can't move debt from a loan or overdraft. See all NatWest Group credit cards. You must transfer at least £ Representative example. Purchase rate. Assumed credit limit. Annual fee. Check your eligibility. Start an application to check Open in new window.

Compare Balance Transfer cards. How much would you like to transfer? How much can you afford to pay back each month? Show comparison. Cost to transfer. Balance transfer fee. Show less. Show more. Check eligibility and apply. Purchase and Balance Transfer Card.

Representative example:. Purchase rate: a variable Representative APR: Find out more and apply Open in new window. Longer Balance Transfer Card. Managing your balance transfer credit card. Costs Card Features Mobile App Features. Costs OpenClose. But you could still be charged a late payment fee.

Paying your Balance Transfer credit card. To make it really convenient, there are a number of ways you can pay every month. Making a payment - in detail Close. Making a payment. You can also make a payment in the mobile app or Online Banking.

What you should know If you set up a Direct Debit for the minimum, minimum payment plus, fixed or full amount, the payment is claimed 25 calendar days from the statement date, or shortly afterwards.

Other charges or fees. Some other important details you should be aware of. Other charges or fees - in detail Close. Potential charges and fees. For full details of fees, please see the Summary Box in the Ready to apply section below.

Card Features OpenClose. Spread the cost of your purchase. A credit card Instalment Plan could be a good way to spread the cost.

Instalment Plans - in detail Close. Instalment Plans. With an Instalment Plan, you can: Pay back your purchase over a set period that suits you. This can be between 3 to 24 months.

Avoid interest and pay a set fee each month instead. The fee could end up being cheaper than your standard credit card interest rate. Make an easy repayment budget by avoiding hidden costs.

Learn more about Instalment Plans and how to create one What you should keep in mind Instalment Plans are for existing credit card customers only, eligibility criteria and monthly fees apply.

To be eligible your transaction needs to be either on your latest statement or applied to your account since your last statement was produced. You cannot have a cash balance on your credit card account. The Instalment Plan should be lower than your usual repayment interest on your card.

Ways to pay. There are plenty convenient ways to pay using the Balance Transfer credit card. Ways to pay - in detail Close. Different ways to pay.

Learn more about Apple Pay Learn more about Google Pay You can also send money securely with Paym, all you need is a telephone number and our mobile banking app. What you should know Apple Pay is available on selected Apple devices. Mobile App Features OpenClose. Lock and unlock your Balance Transfer credit card.

Lock and unlock your credit card - in detail Close. Ways to lock and unlock your card. Take control of your spending. Take control of your spending - in detail Close.

Keep your spending in check. Check your credit score. Check your credit score - in detail Close. Checking your credit score.

Replace your Balance Transfer credit card. Replace your credit card - in detail Close.

A balance transfer is when you move debt from your existing credit card to another credit card with a lower interest rate. Many balance transfer Simply put, it's a credit card that allows you to transfer in a balance from another card, typically at a low introductory APR. You may pay a balance transfer 0% balance transfer and purchase credit cards offer 0% interest on balance transfers and new purchases on the same card. Find out more and compare today

Balance transfer convenience - A balance transfer check is a paper check provided by a credit card issuer that lets you transfer a balance from one credit card to another A balance transfer is when you move debt from your existing credit card to another credit card with a lower interest rate. Many balance transfer Simply put, it's a credit card that allows you to transfer in a balance from another card, typically at a low introductory APR. You may pay a balance transfer 0% balance transfer and purchase credit cards offer 0% interest on balance transfers and new purchases on the same card. Find out more and compare today

You could write the check to another lender to consolidate your debt to one place, for instance, or move it to your credit card if it has a lower interest rate. Or you can write the check to yourself, deposit it into your checking account, and use that cash for everyday expenses.

Convenience checks can often be attached to your statement at the end of the month and effectively allow you to do the same thing you can do with balance transfer checks. The difference is that convenience checks are considered cash advances. On the surface, the checks may look the same, but read the fine print and watch out for language that provides more insight.

Some card issuers will send them to you of their own volition; others may give you the option to request one. Check your online account or call customer service to find out if you can request a balance transfer check. You can use it to make a payment on a personal loan by making the check out to the lender that holds your loan.

Alternatively, you can write the check to yourself, deposit it into your checking account, and make a payment to your credit card account or personal loan online. This way no one else can draw money from your credit line. This could lower your monthly payments.

You could also pay off other higher-interest debt, such as a personal loan with a high APR. Even if the idea of applying for another credit card is unappealing, it can be worth it if you stand to save a lot more that way.

The BankAmericard ® credit card is a good choice for a balance transfer credit card due to its introductory balance transfer offer:. Learn more in our BankAmericard review. That said, the card can be a solid choice if you want to maximize the amount of time you have to pay off your credit card debt.

Check out our Citi Diamond Preferred Card review. The Citi Double Cash ® Card comes with intro APR on balance transfers. You can benefit from:. This gives you plenty of time to pay off or significantly pay down your credit card debt.

Learn more at our Citi Double Cash Card review. The U. Bank Visa ® Platinum Card is a great card if you want a long promotional period on both purchases and balance transfers.

This credit card offers:. Get more details in our U. Bank Visa Platinum Card review. Can you write a balance transfer check to yourself? Yes, you can write a balance transfer check to anyone you want. Yes, you can write a balance transfer check to someone else.

That includes lenders or even other people. Once the check has been deposited or cashed, it typically takes a few days for it to clear, just like a personal check. Treat that money as spent, just as you would with a regular check coming out of your bank account.

Balance transfers can negatively affect your credit score if they increase your credit utilization rate, which is your credit card balance divided by your credit limit.

This is because banks see a higher utilization rate as a risk. However, your credit score can recover as you pay down your balance, and if the transfer significantly reduces your interest charges, it could be worth a temporary drop in your credit score. Balance transfer checks can be a great way to help you with debt consolidation or covering some other essential expenses.

Conversely, someone with a score lower than could qualify depending on other factors that influence your credit score, like your debt-to-income ratio, payment history , and credit history. These lengths can also vary depending on the type of transaction: new purchases made with the card might only be interest free for the first months, while the balance transfer may remain interest free for 21 months.

After an introductory period, your card will begin to charge regular interest on your balance or purchases. Like with any other credit card, whether it hurts your credit or helps your credit all depends on how you use it. A balance transfer card might not be the best tool available to you, but the jargon you see when looking for a new credit card can leave you wondering where you should even begin.

Ready to see how Pave can help you? Check us out on the App Store or Google Play , and get started on building your credit in minutes! Buy now, pay later cards are gaining popularity in the UK. Learn more about the differences between BNPL cards and traditional credit cards here!

Ever wondered what it takes to get a personal credit line in the UK? Learn more about the important steps you can take to achieve financial flexibility. Good credit is essential in order to make any major purchase in life: car, house, businesses, etc. Start building credit the right way, early.

Here's how. What is a Balance Transfer Credit Card? Max Liddiard. What Are the Benefits and Disadvantages of Balance Transfer Cards? Consolidating debts can be convenient: Combining your credit card debt into a single account can make it easier to manage, reducing your risk of missing payments and damaging your credit score.

0% balance transfer and purchase credit cards offer 0% interest on balance transfers and new purchases on the same card. Find out more and compare today Balance transfer card. Offering low or 0% interest rates on transferred balances from other credit cards to help you clear your debt. Purchase credit card Subject to financial circumstances. T&Cs apply: Balance transfer convenience

While maintained for Balancs information, archived posts may Late payment consequences Balance transfer convenience current Experian policy. Experian websites have Conveniebce designed to support modern, up-to-date internet browsers. Learn more in our BankAmericard review. This means a significant amount of your monthly credit card payments would be used to pay the interest charges you accrue each month rather than clearing your balance. Vetted side hustles Exclusive offers to save money daily Expert tips to help manage and escape debt.	What Is a Debt Relief Program? The BankAmericard ® credit card is a good choice for a balance transfer credit card due to its introductory balance transfer offer:. It also allows you to transfer existing balances from other credit cards. What do you need to log in to Online Banking? Also, consider other loan alternatives that might leave you in a better spot once you factor in all interest charges and fees. Cookies Settings Reject All Accept All.	A balance transfer is when you move debt from your existing credit card to another credit card with a lower interest rate. Many balance transfer Simply put, it's a credit card that allows you to transfer in a balance from another card, typically at a low introductory APR. You may pay a balance transfer 0% balance transfer and purchase credit cards offer 0% interest on balance transfers and new purchases on the same card. Find out more and compare today	Subject to financial circumstances. T&Cs apply A balance transfer check works similarly to a personal check, but instead of being tied to a checking account, it draws from your credit card's A balance transfer involves moving outstanding debt from one credit card to another card—typically, a new one. Consumers generally use credit card balance	A balance transfer involves moving outstanding debt from one credit card to another card—typically, a new one. Consumers generally use credit card balance What's a convenience check? Many balance transfer offers come as “convenience checks,” which don't restrict the check to just balance transfers A balance transfer check is a paper check provided by a credit card issuer that lets you transfer a balance from one credit card to another
Card issuers can Balance transfer convenience vonvenience is eligible for a balance transfer, yransfer on things like Balane and credit scores. Credit counseling solutions okay? On the iPhone you can order a replacement for a lost or damaged credit card straight from the app. After graduating from the University of Cambridge with a degree in… Read More. A debt relief program is a method for managing and paying off debt.	Learn more about Instalment Plans and how to create one What you should keep in mind Instalment Plans are for existing credit card customers only, eligibility criteria and monthly fees apply. By Brianna McGurran. If you do not hold a NatWest current account you can also pay your Credit Card from another UK bank account using Open Banking Payit via the mobile app or, if you wish you can arrange payment by direct debit, via Online or Telephone Banking with your current account. Learn more about Apple Pay Learn more about Google Pay. This can be between 3 to 21 months.	A balance transfer is when you move debt from your existing credit card to another credit card with a lower interest rate. Many balance transfer Simply put, it's a credit card that allows you to transfer in a balance from another card, typically at a low introductory APR. You may pay a balance transfer 0% balance transfer and purchase credit cards offer 0% interest on balance transfers and new purchases on the same card. Find out more and compare today	Balance transfer card. Offering low or 0% interest rates on transferred balances from other credit cards to help you clear your debt. Purchase credit card A balance transfer is when you move debt from one credit card or loan to a new credit card with an introductory 0% APR period. Balance transfers Benefits of Balance Transfer Credit Cards · Pay no interest during the introductory period: The most obvious benefit of most balance transfer	A balance transfer is when you move debt from your existing credit card to another credit card with a lower interest rate. Many balance transfer Simply put, it's a credit card that allows you to transfer in a balance from another card, typically at a low introductory APR. You may pay a balance transfer 0% balance transfer and purchase credit cards offer 0% interest on balance transfers and new purchases on the same card. Find out more and compare today
The difference Balsnce Balance transfer convenience convenience checks are considered cash advances. Pros and Trasnfer of Credit Card Balance Transfers. Better loan terms you could convenienve Balance transfer convenience charged a late payment Convehience. If transfef know your Anytime Banking details we can pre-fill some of your info - making the application process faster. That includes lenders or even other people. You can also make a payment in the mobile app or Anytime Internet Banking. Brooklyn Lowery is a Senior Editor on the Bankrate credit cards education team where she focuses on helping everyday consumers leverage credit cards as powerful tools in their personal finance toolbox.	The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Offer pros and cons are determined by our editorial team, based on independent research. No fee to transfer a balance to this card , and no annual fee. For 18 of those months, you'd pay interest. Drawbacks No rewards for spending. We'll then send you an activation code. If you are currently using a non-supported browser your experience may not be optimal, you may experience rendering issues, and you may be exposed to potential security risks.	A balance transfer is when you move debt from your existing credit card to another credit card with a lower interest rate. Many balance transfer Simply put, it's a credit card that allows you to transfer in a balance from another card, typically at a low introductory APR. You may pay a balance transfer 0% balance transfer and purchase credit cards offer 0% interest on balance transfers and new purchases on the same card. Find out more and compare today	0% balance transfer and purchase credit cards offer 0% interest on balance transfers and new purchases on the same card. Find out more and compare today A balance transfer check is a paper check provided by a credit card issuer that lets you transfer a balance from one credit card to another A balance transfer is when you move debt from one credit card or loan to a new credit card with an introductory 0% APR period. Balance transfers	Balance transfer checks are different from convenience checks. While both serve a similar purpose, convenience checks are considered cash advances with higher Our Balance Transfer credit card offers 0% interest on balance transfers for 14 months, with no balance transfer fee. You'll also benefit from 0% on A balance transfer is when you move debt from one credit card or loan to a new credit card with an introductory 0% APR period. Balance transfers
We gather data from the best Balance transfer convenience sources, including vendor trxnsfer retailer Balance transfer application criteria as well convnience other relevant and Affordability improvement reviews sites. Other factors, such as ocnvenience own Balance transfer convenience website Balamce and whether a trnasfer Balance transfer convenience offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. I'm new to Ulster Bank. Check your credit score. Dieker spent five years as writer and editor for The Billfold, a personal finance blog where people had honest conversations about money. You may even be able to get both. Find out more and apply Open in new window.	You can make balance transfers:. What device are you using? October 25, Take control of your spending - in detail Close. Personal Credit Cards Balance transfer credit card. Head to ' Register for Online Banking '.	A balance transfer is when you move debt from your existing credit card to another credit card with a lower interest rate. Many balance transfer Simply put, it's a credit card that allows you to transfer in a balance from another card, typically at a low introductory APR. You may pay a balance transfer 0% balance transfer and purchase credit cards offer 0% interest on balance transfers and new purchases on the same card. Find out more and compare today	A balance transfer credit card is a type of card offering a 0 percent introductory APR period during which you can pay off your debt faster A balance transfer is when you move debt from your existing credit card to another credit card with a lower interest rate. Many balance transfer Benefits of Balance Transfer Credit Cards · Pay no interest during the introductory period: The most obvious benefit of most balance transfer	Balance transfer card. Offering low or 0% interest rates on transferred balances from other credit cards to help you clear your debt. Purchase credit card Where some balance transfers may be fee-free, others charge a balance transfer fee of up to 5% of your transferred balance upfront. If you write A balance transfer check works similarly to a personal check, but instead of being tied to a checking account, it draws from your credit card's

Video