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GABrown
Posts: 55
Registered: ‎10-23-2012

BT/Balance Transfer???

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‎11-05-2012 10:18 AM

what is it and how does it work and what is the point? i see this on alot of posts and was curious...

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namvet
Posts: 846
Registered: ‎09-22-2011

Re: BT/Balance Transfer???

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‎11-05-2012 10:28 AM

A balance transfer refers to the transfer of debt from one credit card to another.  Usually the reason is to save interest. 

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Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012

Re: BT/Balance Transfer???

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‎11-05-2012 10:29 AM

+1 namvet.. It can be a beautiful thing

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somnipotent
Posts: 303
Registered: ‎06-02-2008

Re: BT/Balance Transfer???

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‎11-05-2012 10:38 AM

Moves money from a high interest account to a lower/zero interest promotional account.  Saves you $$ if you're carrying a balance.  Which you should to avoid anyway.

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