0% Balance Transfer Credit Cards | Credit Intel by American Express
A 0% intro balance transfer credit card lets you move the balance you owe on your old credit card to your new credit card – and pay 0% interest on that balance for a set period of time. Learn more about how to use 0% intro balance transfer credit cards with Credit Intel by American Express.
How do 0% Intro Balance Transfer Credit Cards Work?
A 0% intro balance transfer credit card lets you move the balance you owe on your old credit card to your new credit card and pay 0% interest on that balance for a set period of time, for example, 12 months.
Balance transfer credit cards are helpful if you’re looking to pay down your credit card debt without paying interest charges, although depending on the credit card there may be a 3% to 5% fee, so don’t forget to factor that in.
Here’s how they work.
Let’s say you transfer a $1,200 balance to a 0% intro balance transfer credit card, if you don’t make any other purchases with the card, you could pay $100 a month and pay off the entire balance in just 12 months because you’d have 0 dollars in monthly interest charges.
If you didn’t transfer the balance and decide to pay off your credit card with a standard 21% APR, the same $100 payments would take you an extra 2 months because you’d have to pay $159 in interest charges.
Now just think about everything you can do with that extra $159!
Credit intel is a resource to help you make smarter financial decisions.
Learn how to navigate the world of personal finance at https://Americanexpress.com/Creditintel.
»Learn More about Zero Percent Balance Transfer Credit Cards: https://www.americanexpress.com/en-us/credit-cards/credit-intel/zero-balance-transfer-credit-cards/
»Apply for a Credit Card: https://www.americanexpress.com/us/credit-cards/
»Subscribe to the Amex YouTube Channel: http://bit.ly/SubscribeAMEX
About: American Express is a global service company, providing customers with exceptional access to charge and credit cards, insights and experiences that enrich lives and build business success. Get up close to the passionate lives of rising artists, a new wave of entrepreneurs, and everyday people. Join us for everyday inspiration on the official American Express YouTube channel.
More from American Express!
Website: https://www.americanexpress.com/
Facebook: https://www.facebook.com/AmericanExpressUS
Twitter: https://twitter.com/askamex
Instagram: https://www.instagram.com/AmericanExpress/
0% Balance Transfer Credit Cards | Credit Intel by American Express
Comments are closed.