- Credit Card Balance Transfer
- The transfer of all outstanding balances from one credit card to a new credit card. Credit card balance transfers are typically used by consumers who want to move their debt to a credit card with a lower interest rate, fewer penalties or other benefits, such as reward points or travel miles.
Many credit card companies offer free credit card balance transfers in order to entice consumers to choose their service over a competitor. In addition, credit card companies may offer a grace period in which no interest is charged on the outstanding balance. With proper diligence, a savvy consumer can take advantage of these incentives and avoid high interest rates while paying down the principal. But be sure to read the fine print, as many credit transfers involve hidden charges, such as one-time fees on the balance transfer.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
Credit card balance transfer — A credit card balance transfer is the transfer of the balance (the money) in a credit card account to an account held at another credit card company. Contents 1 Overview 1.1 Normal rate … Wikipedia
Credit card balance transfers — A credit card balance transfer allows a credit card user to transfer the balance on their accounts to a new credit card. This is a process which is actively encouraged by almost all credit card issuers as a means to attract new customers. Such an … Wikipedia
Credit card hijacking — is a form of credit card fraud and the term is used when a person’s credit card is used by some unauthorized person (e.g. a thief or overaggressive vendor) to buy goods or services. The credit card owner usually has trouble reasserting control… … Wikipedia
Credit card interest — Finance Financial markets Bond market … Wikipedia
Credit card — Personal finance Credit and debt Pawnbroker Student loan Employment contract Salary Wage Empl … Wikipedia
Credit card cashback — When accepting payment by credit card, merchants typically pay a percentage of the transaction amount in commission to their bank or merchant services provider. Many credit card issuers, particularly those in the United Kingdom and United States … Wikipedia
Credit card fraud — Personal finance Credit and debt Pawnbroker Student loan Employment contract Salary Wage Empl … Wikipedia
Credit card terminal — A typical credit card terminal that is still popular today A Credit card terminal is a device that can do transactions with a debit card or a credit card. Several types of credit card terminals are available to merchants. Most have the same basic … Wikipedia
Credit CARD Act of 2009 — CARD redirects here. For other uses, see CARD (disambiguation). Credit Card Accountability Responsibility and Disclosure Act of 2009 Full title An Act to amend the Truth in Lending Act to establish fair and transparent practices relating to the… … Wikipedia
balance transfer — UK US noun [C] ► FINANCE a situation in which debt on a credit card is moved to a different card, usually to get a better interest rate: »The way to refinance credit card debt is through a balance transfer. »balance transfer rate/offer … Financial and business terms