![]() Learn more: Using Bankrate’s Approval Odds tool to confidently apply Consider if it’s worth applying and undergoing a hard credit pull if you are unsure of your approval chances. If you’re denied a balance transfer card, you may be concerned about the short-term effects on your credit score. Like any other credit card application, a balance transfer card application will result in either approval or denial. Some may offer general benefits like purchase protections and identity theft protection services, but a few of the best also earn rewards or provide additional discounts or savings on purchases. Most balance transfer cards carry barebones features and instead provide a lengthy intro APR period. What are the card’s fees?Ĭheck a card’s terms and conditions to find details on applicable balance transfer fees and late payment penalties. Interest rates vary widely, and knowing exactly what you're signing up for is helpful if you need to occasionally carry a balance after the 0 percent intro APR period ends. ![]() It's important to figure out what kind of APR you'll face after the introductory period ends. Does the card have a low interest rate after the 0 percent intro APR period? The best balance transfer cards offer a 0 percent intro APR on transfers for 18 to 21 months. You’ll want to choose a card with an intro APR offer period that matches how much time you reasonably need to pay off your balance. Does the card have a long introductory APR offer? It’s important to consider this timeframe when choosing your card so you can be sure that you’ll manage to arrange your balances for transfer, settle your balance transfer fee and make all of your following payments on time. Some cards give you 90 days from account opening while other cards have a longer or shorter window. To choose a balance transfer credit card that fits your unique financial situation, consider the following six questions: How long is the balance transfer window?Ī good balance transfer card will allow you to make transfers within a generous window of time after the opening of your account. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.ī is an independent, advertising-supported publisher and comparison service. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.Įditorial policy, so you can trust that our content is honest and accurate. Our experts have been helping you master your money for over four decades. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our goal is to give you the best advice to help you make smart personal finance decisions. Our editorial team does not receive direct compensation from our advertisers.īankrate’s editorial team writes on behalf of YOU – the reader. We maintain a firewall between our advertisers and our editorial team. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first.
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