balance transfer

A transferal of the current amount owing on one credit card to another one (ideally one charging a lower rate of interest)

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  • balance transfer — UK US noun [C] ► FINANCE a situation in which debt on a credit card is moved to a different card, usually to get a better interest rate: »The way to refinance credit card debt is through a balance transfer. »balance transfer rate/offer …   Financial and business terms

  • Balance transfer — A balance transfer is the act of transferring debt from one credit card to another assuming the newer card has better terms and rates. The balance transfer offer consists of three elements: offer rate, offer duration, and transaction fee . There… …   Wikipedia

  • Credit card balance transfer — A credit card balance transfer is the transfer of the balance (the money) in a credit card account to an account held at another credit card company.[1] Contents 1 Overview 1.1 Normal rate …   Wikipedia

  • Credit Card Balance Transfer — The transfer of all outstanding balances from one credit card to a new credit card. Credit card balance transfers are typically used by consumers who want to move their debt to a credit card with a lower interest rate, fewer penalties or other… …   Investment dictionary

  • transfer fee — ➔ fee * * * transfer fee UK US noun [C] ► FINANCE a payment that you make when you move a balance (= the amount that you owe) from one credit card to another. You make the payment to the issuer (= bank, etc.) of the card to which you move the… …   Financial and business terms

  • balance — the amount of money remaining in an account. The total of your money in the bank after accounting for all transactions (deposits and withdrawals) is called a balance . Glossary of Business Terms A division of a Securities Account, of a type… …   Financial and business terms

  • transfer — A change of ownership from one person or party to another. Bloomberg Financial Dictionary On the London Stock Exchange, the form signed by the seller of a security authorising the company to remove his name from the register, and substitute that… …   Financial and business terms

  • Balance of payments — In economics, the balance of payments, (or BOP) measures the payments that flow between any individual country and all other countries. It is used to summarize all international economic transactions for that country during a specific time period …   Wikipedia

  • Balance of trade — Cumulative Current Account Balance 1980–2008 based on the International Monetary Fund data …   Wikipedia

  • Transfer of Mortgage — A transaction where either the borrower or lender assigns an existing mortgage (bank loan to purchase a residential property) from the current holder to another person or entity. Homeowners who are unable to keep current on their mortgage… …   Investment dictionary

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