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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.

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2006-03-21 18:21:14
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Q: What is a balance transfer check?
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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.

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 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.

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.

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 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 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 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%).

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.

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