How does a credit card balance transfer work?

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credit card transfer

I currently have two credit cards. One is a normal card and one is for an electronic store. I recently payed off my normal credit card and I would like to use it to pay off the electronic store credit card, so that I can cancel it. However, I’m afraid that the store may not let me pay off the card using another one. So…

I was wonder exactly how a balance transfer works and if it would be a wise decision in this case? The sooner I pay off my store credit card and get rid of it the better!

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Monday, November 24th, 2008 at 2:01 pm. Posted in Credit Card Transfer. Tags: , , , , . You can follow this web articles through the RSS 2.0 feed.

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One Response to “How does a credit card balance transfer work?”

  1. The previous answer is correct…but he left out a few “hidden” things…

    You will be paying a fee to do this, so make sure you know what they charge before doing it.

    And it would be silly to pay off a low interest credit card with one of a higher rate. So verify those also.

    DO NOT cancel the old card. It could effect your credit score. Just tear it up and never use it again.

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