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balance transfer

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tali122 | 17:40 Sat 21st Jan 2006 | Business & Finance
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what does balance transfer mean?- is it an account in credit or is some transferring of money involved?
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Avatar Image Sammy Snake
It is when the balance of an account or credit card is transferred to another account/card. It can be a credit balance or a debit balance.
18:15 Sat 21st Jan 2006
Avatar Image Lardy
Balance transfers are especially useful if you have a large credit card balance outstanding on which you are being charged interest. By applying for another credit card that offers balance transfers for an introductory period at 0% you could effectively save interest payments..
22:04 Sat 21st Jan 2006

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