Find answers for queries on balance transfer credit cards

Yes, you can transfer your student loan balance to a new balance transfer card. Be aware of the interest rates after the 0% APR expires and keep a check on balance transfer fee. You don’t want to end up paying your student loan even after a decade of completing your course.

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Yes, apart from loans from your previous credit card, you can transfer car, furniture, appliances and other monthly installment payments to your new balance transfer credit card.

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Credit card issuers want to make sure that you have enough finances even though you are planning to transfer your balance debt. So, yes, it is necessary that you have a good or excellent credit score to get a balance transfer credit card.

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Balance transfer credit cards allow you to transfer all or a part of your debt from one card to another. Thus, allowing you consolidate and stock your debts on to one card, making it easier for you to keep track.

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Credit cards such as CHASE SLATE do not charge any balance transfer fees for first 60 days of account opening. The BLUE CASH EVERYDAY card from AMERICAN EXPRESS offers a sign up bonus and 1- 3 % cash back on $1000 – $6000 purchases. In addition to this, it offers 0% intro APR for the first 12 months.

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The first thing you should be sure about is that you are not planning to get an additional loan when you already have transferred an incurring loan. The total balance will be harder to pay off. Credit cards levy a balance transfer fee of 3% – 5%. So, do your math and pick which is the best offer for you.

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You should consider getting a balance transfer credit card if you are sure that you will pay off the balance of your preexisting loan in full before 0% intro APR ends.

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