balance transfer


A transfer of debt from one credit card to another. The most common reason this is done is to reduce the interest rate being paid.

Use balance transfer in a sentence

The balance transfer was complete and I was glad because I finally had money to return home and see my parents.

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The balance transfer was used to improve the financial situation as the amount of interest being paid was too much.

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Many credit card companies use the lure of a balance transfer to gain new customers, typically offering zero or very low interest rates for a specific period of time, however, the terms and conditions and interest rates that will apply when the balance transfer ïhoneymoonï period is over may not always be beneficial to the customer, which makes reading the fine print very important with these offers.

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