Best Answer

Credit card companies send out checks that you can write to other creditors to pay off the balance. In turn, you get the balance of the other account transfered to your new account (the one who sent you the checks) and your old account is paid off.

User Avatar

Wiki User

โˆ™ 2006-03-21 18:21:14
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is a balance transfer check?
Write your answer...
Related questions

Where can one check credit card lifetime balance transfer?

One can check credit card lifetime balance transfer by visiting the Money website. This website has comprehensive information about everything to do with money. It lists the 'Top 10 Life of Balance Transfer Credit Cards'.

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 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.

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.

Can a wife transfer her credit card balance of a card that is?

She can transfer the balance onto a new card. It is known as a 'Balance Transfer'.

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.

How can one make a Mastercard balance transfer?

The cardholder has to log into the card's website, and select "Complete an online balance transfer check", under Tools and Services menu, then the cardholder will chose the amount available to them.

How can one check their EBT account balance?

An EBT is an electronic benefit transfer, and you can check your balance on the website or in any card reader which accepts the card. The card can also be used in food stores.

What is the best balance transfer card?

Best balance transfer card of 2013 is slate from chase. It is the only card that is offering a 0% introductory interest rate on balance transfer without charging balance transfer fee but it's only for the first 60 days.

What happens in a 0 balance transfer?

When one has a 0 balance transfer it means that all of one's balance transfer payments are pushed to the bottom. If it is a 0% it means that one would have no annual fees.

How do you transfer money from one credit card to another?

There are a few ways to transfer money from one credit card to another. Some of those techniques are summarized as follows:Direct Balance TransferThe balance transfer process differs from issuer to issuer, however, most issuers are more than happy for you to transfer a balance from another card to their card. One may initiate a balance transfer either online (through the credit card issuer's online banking website) or via telephone (call the customer service number on the back of the card). To complete the process, one would need the account number of the credit card that the money is being transferred to, the name of the issuer (and sometimes address/phone number) and the amount. Be prepared to pay fees of between 3% and 5% of the amount being transferred and whatever balance transfer interest rate is in play (fee% and APRs can be found on the website or by asking the customer service representative what the transfer will cost in the short- and long-term).Balance Transfer or Cash Advance ChecksThe check is a direct way to transfer a balance. Simply fill out the BT or CA check in the same manner that you would fill out a payment check to the credit card company to which you want to transfer money. Then send the check to the standard payment address. As with a direct balance transfer, be prepared to pay similar fees. Also, if the check is considered a cash advance, the interest rate will be significantly higher than that of a balance transfer (BT rates run between 7% and 11%; cash advance rates run between 15% and 21%).

How do you check ratibi balance inquiry?

There are several ways to check the Ratibi balance inquiry. The person can check the balance in person. The person can also check the balance online.

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 can one transfer their balance from a Discover card?

To transfer the balance from a Discover card, one needs a separate card to which the balance can be transferred. One should contact the provider of the other card to arrange the transfer.

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 is meant by balance transfer zero?

0% balance transfer means you can transfer a balance between credit cards and you will be charged 0% interest. Be careful when using these function as there exists a lot of room for fine print.

What is the best way to do a credit card balance transfer?

Before you transfer your balance, read the fine print on your credit card agreement. Some agreements charge fees for balance transfers. After you have read the agreement and understand the possible charges you may face, gather all the necessary information about the card you want to transfer the balance from, call (or perhaps go online) the credit card company you wish to transfer your balance to, give them all the necessary information, and transfer your balance.

Where can one find a balance transfer calculator for helping to manage debts?

Many websites offer balance transfer calculators for helping one to manage debts. Bankrate, CalcXML, and CalculatorWeb have free balance transfer calculators.

What is the best credit card for balance transfer?

There are many good credit cards for balance transfer. For example, Visa credit card provides a good balance transfer service. American Express credit card does too.

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 transfer of water through a cell membrane to balance concentration?

The transfer of water through a membrane to balance concentration is called osmosis.

Can you transfer credit card balance to another carholders card?

Yes, you can transfer a balance from one person to another, preferably WITH their permission..

Where may one balance transfer credit?

If one wants to transfer a balance from one credit card to another credit card, the gaining credit card will arrange the transfer. There is a transfer fee involved with the transaction.

What would you use to check your bank balance at the bank?

Check my balance

Can you check your loan balance here?

No, you can not check your loan balance here.

People also asked

Which of the following is an example of mandatory spending?

View results

American Romantic writers rejected rationalism because they believed?

View results

What eye problems causes giddiness?

View results

How small should your credit card balance be?

View results

Which of these methods successfully quantifies the value of a computer to a partucular person?

View results

What is a sentence with the word rhetorical?

View results