What is a balance transfer and how does it work?

If you've racked up debt on a high-interest credit card, transferring the balance to a low-rate card sounds attractive – but it's not quite as simple

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The Weekly The latest news & offers Thursday, Jun. 02, 2022   Featured Article   What is a balance transfer and how does it work? If you’ve racked up debt on a high-interest credit card, transferring the balance to a low-rate card sounds enticing – but it’s not quite as simple as it sounds.       More Great Reads     Why are credit card APRs so high? Credit cards are a risky proposition for issuers and interest rates reflect that. Here’s how APRs are calculated, and what you can do to reduce yours.       Residual interest: What it is and how it works Residual interest is the interest that's accrued on an unpaid credit card balance for those who have been carrying a balance. Read to learn how it works, and how you can avoid paying it.       How does credit work? Credit is your borrowing power, and how much you have depends on what's on your credit report. Here's what you need to know.

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