TEST My friend needs dental treatment. I do not want to submit an application at this time because I do not want a declination on my credit report. Last time my score was 730. I have three credit cards with high limits but low balances. I always pay far more than the “minimum” payment. Perhaps you can tell me whether or not I should apply, based upon the above. Again, I don’t want a declination on my credit inquiries.
Answered on Friday, April 19th, 2013 by
Updated: April 19th, 2013
Amy Miller
The content is accurate at the time of publication and is subject to change.

TEST

If you feel like you can afford and manage the fourth card, you can apply for a credit card that fits your credit history. You can consider applying for a credit card with 0% introductory period on balance transfer and pay off the balance of one or two credit cards.

Note that balance transfer cards with attractive low rate intro offers are usually available to people with good or excellent credit, and most likely you will have to pay a balance transfer fee around 3%. As for the best balance transfer credit card, it depends on your preferences, financial situation and whether you are going to keep the card after the balance is paid off. Of course the most logical solution can be the card with the longest 0% interest introductory period, but if you consider the fees, interest rates and take into account your needs, the answer can be absolutely different from what you expected.

Paying fees won’t make anyone happy. Cards usually charge a fee of 3% for balance transfers, and if your overall balance is hefty, that might be quite considerable. However, if you do the math, you’ll see what you are paying for. If the card of your choice has a 0% intro APR, you will save a lot on the interest that you won’t pay monthly. With the intro period around 12 months on average you can subtract the amount of all your interest that you would pay if you stayed with you current card. Look at the difference with the balance transfer fee, and you’ll see that what you save is much more than the fee charged.

All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

Other Popular Balance Transfer Card FAQs

April 19th, 2018
What is a balance transfer?

A balance transfer is moving of your debt from one credit card (or cards) to a different card with a lower interest rate (usually 0% intro APR). When you are struggling to pay off your debts, the balance transfer can be of great help. The most popular type of balance transfers is a credit card […]

Continue »

AARP credit card is not the best choice to transfer your balances. This card hasn’t got 0% intro APR on balance transfer.

Continue »

Thank you!

Your question has been successfully sent!

What is your question?
Please, enter your question and contact information so that we can send our answer to you by e-mail.
Please fill in all the required fields.
            
Best Credit Offer
Discover it® Balance Transfer
Check off the cards you want to compare. Then click the Compare link to go to the comparison table.
Consumer Rating: 5 / 5
Copyright © 2001-2018 BestCreditOffers.com All Rights Reserved.

*See the credit card's terms and conditions on the online application page. Note that this website may be compensated by credit card issuers when the visitor applies for a card through the links on this website. We do our best to maintain all information accurate and up to date. However, we do not warrant the credit card information won't change. Click the "Apply Online" button and review the current info on the secure credit card terms page.

Information in these articles is brought to you by BestCreditOffers.com. Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles.

The BestCreditOffers.com webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. BestCreditOffers.com does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the BestCreditOffers.com website are property of their respective owners.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer. Opinions expressed here are the author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. Reasonable efforts are made to present accurate info, however all info is presented without warranty. Consult a card's issuing bank for terms & conditions.

BestCreditOffers.com makes every effort to keep information up to date and accurate. However, the information regularly changes and is presented without warranty. Therefore, we strongly recommend all our readers to visit the credit card application page by clicking "Apply Online!" button to review the detailed credit card's terms and conditions. Note that BestCreditOffers.com may be compensated by the credit card issuers when the readers apply for a credit card through this site.

BestCreditOffers.com is an independent, advertising-supported website which receives compensation from the credit card issuers and companies whose offers appear on the site. Compensation may impact how and where products appear on our site, including, for example, the order in which they may appear on the site pages. BestCreditOffers.com does not review or list all available financial or credit offers.

Disclosure: Not an access card.

You've successfully subscribed!

Please specify the following:All these fields are optional

Thank you for providing this information! We will make sure our letters are useful for You.

User Generated Content Disclaimer: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.