answersLogoWhite

0


Best Answer

A credit card balance transfer is when someone opens a new credit card account to pay off an old one. The debt plus the interest is then owed to the new credit card company, who most times provides a grace period where a smaller amount of interest is charged on the transferred balance.

User Avatar

Wiki User

11y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What exactly are balance transfer offers?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Finance
Related questions

Where can one get a free balance transfer?

A free balance transfer is typically a service that is offered by credit card companies. One can find a credit card that offers free balance transfers by visiting Bankrate. They provide the current balance transfer offers.


What are the best free balance transfer credit card offers?

There are many free balance transfer credit card offers. These include great offers by Capital One, Barclaycard, NatWest, RBS, Nationwide, and Bank of Scotland.


What type of balance transfer offers are available online?

There aren't a whole lot of offers available. Good balance transfer rates usually aren't given to individuals with minimal or no credit history, but to individuals with solid credit.


What company currently offers low interest balance transfer of other credit cards?

Discover is one company that offers low interest balance transfer of other credit cards. One can compare interest balance rates online at websites such as Nerd Wallet and Credit Cards.


Is there an online site that I can do a comparison of balance transfer offers amongst a variety of credit cards?

Yes, you can find online sites that list credit card offering balance transfer. The following is one such site. http://www.creditcardcompare.com.au/balance-transfer-credit-cards.php


Where can one find the best offers for balance transfer credit cards?

Many offers exist for balance transfer credit cards. The best can be researched by speaking to one's bank, or by looking up different offers from different companies online in places such as the Money Supermarket and the Money Saving Expert.


How can you compare balance transfer credit cards?

You can compare balance transfer credit cards easily and directly on the CreditCards website. The CreditCards website offers a detailed comparison of balance transfer credit cards. The CreditCards website compares balance transfer credit cards such as the Citi Simplicity card, the Citi Diamond Preferred card, the Discover It card, and many more.


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.


Where is it possible to get 0 balance transfer on a credit card?

There are many places to get a 0% interest balance transfer on a credit card. Certain major credit cards from companies such as Visa, Mastercard, and Discover often provide these balance transfer offers. Going through a bank that offers a card such as Visa or Mastercard is one way of obtaining one of these cards. There are also credit card applications that can be found online.


What does no balance transfer fees mean exactly?

An individual may wish to transfer the balance of one credit card onto another. This is generally done when an offer on the original credit card is ending, or if the APR is higher than the new card. Often when doing this, the new credit card company may charge a fee, generally 1-5% of the balance transfer. When it says no balance transfer fee, it means there is no extra charge for a balance transfer.


Does Bank of America offer interest free credit cards?

No bank offers a credit card with NO interest. However, many banks offers no or low interest balance transfer offers, where you take a balance from one card and transfer the amount to new card with no or little interest, but only for a certain time, usually around 6 months.


What is a balance transfer on a credit card?

A balance transfer is when you payoff what you own on one credit card, with another credit card or loan.A "balance" is what you owe.Usually balance transfers are done when another credit card company offers you a lower interest rate.Before you do a balance transfer, make sure there are NO FEES associated with it.Answer:Most of the companies offer balance transfer from old card to new that they offer to attract the customer to their product. they even provide the grace period to pay back the balance to the lender.