credit card faqs?

Question

what do they mean by Balance Transfer Apr 22%? what is a balance transfer?

Answer 1

Balance transfer is when you request to move your balance from one credit card to another. I.E. from a Visa to a Discover card. Be careful of the high APR that apply to balance transfers. Call the 1-800 number on the back of your current credit card to clarify the specific details that pertain to your account.

Answer 2

In addition to the monthly interest, there is usually also a balance transfer fee of 3% of the amount transferred. Some credit cards cap the fee, usually at $75, but many have no cap. Also, if you plan on using your entire credit limit for the transfer, you need to leave enough left on your card to cover the fee, otherwise you'll go over your credit limit and be charged an over limit fee.

If you get a 0% or low rate promotional balance transfer, make sure you know when the offer ends - call the bank if necessary. They don't tell you the expiration date on the monthly statements. Also, save any documentation as to when the offer ends, because the bank may try to cheat you and end the offer early.

Answer 3

you do no longer even ought to apply it. As an approved consumer the credit status on the cardboard will shop on with you, good or undesirable. in simple terms bear in concepts nonetheless, if she does not pay or gets in arrears which will mirror on your credit status too. make optimistic she will no longer smash your score instead of helping it.