When you transfer a balance with the current debt to another credit card, it is called the balance transfer. This is usually done at very low interest rates. You can do this operation in almost all banks. We will review Best balance transfer credit cards for you. For balance transfer transactions, you must know that the applied zero interest promotion will not last forever. When the promotion period is completed, interest rates start to work as standard. Therefore, you need to make very good calculations when you are making a balance transfer.
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How do balance transfers work?
Reconfiguring your existing credit card debt and making a balance transfer with zero interest will save you some time and ease your payments. For example, configuring your $ 5.000 credit card debt with zero interest and transferring the balance will save you from the interest rate for a while.
Balance transfer fees
The standard ratios are between 3% and 5%. You have to pay a fee for the balance transfer. These fees vary by bank. So you have to pay an average of $ 150 to $ 250 to transfer a balance of $ 5,000.
Best balance transfer credit cards 2018
We have a short list for you about Best balance transfer credit cards. You do not need a very high credit rating to make a balance transfer. You only need to have reference criteria. Below you can find the best balance transfer credit cards.
Discover it Balance Transfer – Balance Transfer offer is 18 months
Capital One Quicksilver Card – Balance Transfer offer is 15 months
Wells Fargo Platinum Visa – Balance Transfer offer is 18 months
Chase Freedom card – Balance Transfer offer is 15 months
BankAmericard Credit card – Balance Transfer offer is 18 months
See Also: Balance transfer credit card