How balance transfers work, what they cost, and how to decide whether one makes sense.
A transfer can give you breathing room, but it does not reduce what you owe, and the fee is added to your balance. Before you decide, estimate the outcome with the balance transfer calculator. The CFPB suggests using a different payment method for new purchases while you pay off a promotional balance, so that you avoid interest on them.
APR is the yearly price of borrowing on a credit card. Learn the different types, how issuers turn APR into a daily charge, and how the grace period can spare you from paying it.
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