This means if your low rate credit card has an introductory 0% balance transfer APR and you are carrying a monthly balance on purchases, then your payments will reduce the 0% balance transfer first while you continue paying interest on purchases—the resulting APR is called your effective rate and it is normally much higher than the balance transfer APR.

Card selection for discoer credit card balance transfer is maintained and reviewed by our panel editors.

And the million-dollar question is: What are the balance transfer fees? This is where a shady credit card company could make a killing off of your balance transfer.

It provides similar valuable information to prospective lenders.

You have to be alert while ordering a balance transfer to an existing card or while picking up your new balance transfer credit card from among a plethora of names and choices available.