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What is a Balance Transfer Credit Card?

9 min read
Last Updated: November 5, 2026

Key Takeaways

  1. A balance transfer can lower your interest fees for a set period of time. This means more of your monthly payment can go toward paying your debt, rather than the fees it’s accumulated.
  2. Most cards charge a balance transfer fee, which is added to your new balance.
  3. New purchases are usually excluded from a balance transfer card’s promotional period, so they’ll be charged the standard interest rate right away.

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