Best Answer

The purpose of a balance transfer is to transfer balance. Many credit card companies allow the transfer of balance from one card to another. That is a balance transfer.

User Avatar

Wiki User

10y ago
This answer is:
User Avatar
Study guides

The law is derived from three main sources what are they

If there is an erroneous payment then

These funds last 5 years have limited use and cannot pay for new obligations

How do you know which transactions are awaiting your approval

See all cards
80 Reviews

Add your answer:

Earn +20 pts
Q: What is the purpose of a balance transfer offer?
Write your answer...
Still have questions?
magnify glass
Related questions

Is 0 percent apr balance transfer offer a trap set by credit card companies?

This offer is a trap. Once you have you begin paying off your balance, the one with the lowest APR balance will be paid off first, defeating the purpose of this low APR balance.

What companies offer a 0 percent balance transfer?

There are a couple companies that offer a 0 percent balance transfer. Some of these companies are Discover, BankRate and Nerdoffer. 0 percent balance offer isn't something that is recommended.

How do I get involved with a balance transfer offer?

However, you need to find out whether the fees involved in the transaction cancel out your interest savings. If you accept a balance transfer offer, you want it to .

What is a credit card transfer offer?

A credit card transfer offer is when you transfer your balance from one credit card to another, and get a lower APR as a result. For instance, Capital One might offer 0% APR if you transfer the balance from say, your Wells Fargo card to your Capital One card.

What companies offer a card balance transfer credit card?

Need a card balance transfer credit card and wondering which companies offer them? There are many companies offering a card balance transfer credit card including but not limited to Discover card, Capital one and Venture rewards.

What does balance transfer mean?

It's when you transfer your balance (or part of your balance) in an account to another account. Usually the accounts are in separate financial institutions. Although it applies mainly for credit cards, other financial product may also offer balance transfer.

What credit card companies offer a 0 transfer balance?

There are many companies that offer a 0% APR transfer balance. These include companies such as Barclaycard, Capital One, HSBC and Virgin Credit Cards.

What credit card companies offer a free balance transfer?

There are a few different companies that offer a free balance transfer. Some of the more popular companies are the MasterCard and Discover credit card companies.

Where can one find a balance transfer calculator for helping to manage debts?

Many websites offer balance transfer calculators for helping one to manage debts. Bankrate, CalcXML, and CalculatorWeb have free balance transfer calculators.

What is a balance transfer on a credit card?

A balance transfer is when you payoff what you own on one credit card, with another credit card or loan.A "balance" is what you owe.Usually balance transfers are done when another credit card company offers you a lower interest rate.Before you do a balance transfer, make sure there are NO FEES associated with it.Answer:Most of the companies offer balance transfer from old card to new that they offer to attract the customer to their product. they even provide the grace period to pay back the balance to the lender.

What companies offer the best balance transfer deals?

The following companies offer the best balance transfer deals: Barclay, NatWest, Virgin Money, Halifax, Tesco Bank, MBNA, Nationwide BS, and First Direct.

Which credit cards offer a low interest balance transfer?

It depends on your situation. Usually Discover cards have a very low interest balance transfer available with the cards.