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What is balance transfer on credit cards

Wait for the transfer to go through. Investopedia requires writers to use primary sources to support their work. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review the Bank of America Online Privacy Notice and our Online Privacy FAQs. If you'd be able to pay off your credit card balance in three months or less, you might be better off doing so rather than seeking a balance transfer, since the transfer fee might be greater than the interest you'd pay.

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Bank online, anytime, with our Online Banking for Business application. Log in from your desktop or via our mobile app. Transfer funds, make payments. Get all your digital business banking services at BMO with access to cash flow management tools and features to help your small business grow.

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Learn more about how credit cards work. Running up new card balances after completing a balance transfer could also hurt your credit score and leave you with more debt to repay. Life Plan Set short-and long-term goals, get personalized advice and make adjustments as your life changes. Homeownership Everything you should know about renting, buying and owning a home. Balance transfers can initially cost you credit score points since you'll typically need to agree to a hard credit check to get approved.