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If you transfer your account balance to another credit card does that action act as a payment to the credit card it was tranfered from?
Wiki User
∙ 16y ago
Yes. You've moved the debt from one account to another, so the first account would recognize the transfer as a payment and the second account would treat it as a new debt.
Wiki User
∙ 16y ago
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What does chase balance transfer stand for?
A balance transfer is the transfer of balance in an account or a credit card to another account.It also refers to transfer of outstanding balance from one credit card to another credit card.
What does balance transfer mean?
It's when you transfer your balance (or part of your balance) in an account to another account. Usually the accounts are in separate financial institutions. Although it applies mainly for credit cards, other financial product may also offer balance transfer.
How do balance transfers work?
A balance transfer works by moving the amount owed on one account to another account. There are two accounts, the receiving account and the delivering account.
What are some good 0 balance transfer sites?
Some good 0 balance transfer sites are NerdWallet and Money Savers. These sites will allow one to transfer their account balance of one card to another card at no cost.
What is a balance transfer?
A balance transfer is when you have money in one bank and transfer that money to another bank. It is also when you have a balance on one credit card and transfer the balance to another credit card.
What does chase balance transfer stand for?
A balance transfer is the transfer of balance in an account or a credit card to another account.It also refers to transfer of outstanding balance from one credit card to another credit card.
What is the purpose of a balance transfer credit card?
A balance transfer credit card is used to transfer your balance from one account (such as your personal account) to another account (such as a business account). This is the quick, hassle free way to move your money around.
What does balance transfer mean?
It's when you transfer your balance (or part of your balance) in an account to another account. Usually the accounts are in separate financial institutions. Although it applies mainly for credit cards, other financial product may also offer balance transfer.
How do balance transfers work?
A balance transfer works by moving the amount owed on one account to another account. There are two accounts, the receiving account and the delivering account.
What is the primary purpose of a transfer balance?
The primary purpose of a transfer transaction the moving of fund from one account to another. The accounts need not be at the same financial institution. The full balance of the account or just a partial amount can be transferred. Some financial institutions provide a service that automatically does a transfer from one account to another should one of the accounts balance reach a certain threshold.
What are some good 0 balance transfer sites?
Some good 0 balance transfer sites are NerdWallet and Money Savers. These sites will allow one to transfer their account balance of one card to another card at no cost.
What is the best way to do a balance transfer?
If a person's bank has online banking available, this is the easiest way to do a balance transfer from one account to another because they can check afterwards to see if the transfer went through.
How do I cancel balance on my iTunes account?
Once money is put in you cannot remove it or transfer it to another program.
What is a balance transfer?
A balance transfer is when you have money in one bank and transfer that money to another bank. It is also when you have a balance on one credit card and transfer the balance to another credit card.
What does transferring credit card balance to new card do to credit?
Generally, after two (2) months, the balance transfer from one card to another only minorly impacts one's credit. The key is the additional or new account and the utilization of the line on the account. If you transfer a balance to a NEW account as part of the application/onboarding process, your credit score will be reduced. If you transfer a balance to an EXISTING account that you don't use regularly, your credit score will be reduced. If you transfer a balance to an EXISTING account that you use on a regular basis, your credit score will either remain the same or be reduced.
What is the purpose of a balance transfer offer?
The purpose of a balance transfer is to transfer balance. Many credit card companies allow the transfer of balance from one card to another. That is a balance transfer.
What is the procedure to transfer one's checking account balance to their savings account for HSBC bank?
The procedure to transfer ones checking account balance is the same at every bank. It is called a balance transfer. HSBC allows only 350,000 dollars to be transferred per day.
