我应该在平衡转账卡中寻找什么？
ideally, you’ll search for a balance transfer card with low or no balance transfer fees to minimize the cost when you do a transfer. also, you’ll need to choose a bank other than the one you’re looking to transfer debt from since banks won’t let you transfer debt from one of their cards to another. finally, consider the length of your balance transfer. the longer it is, the more time you’ll have to pay off your debt before interest piles up.
yes, but the limit is determined by the issuing bank and your creditworthiness. for example, chase caps balance transfers at $15,000 within a 30-day limit. but there’s no guarantee on any card that you’ll get approved for a limit on a new card that high. if you’re only approved for, say, a $5,000 limit on a balance transfer card with any bank, then $5,000 is going to be the maximum amount of debt you can carry on the new card.
also remember that any balance transfer fees will count as your limit and have to be factored in when doing a transfer. so, if you’re approved for a $5,000 credit limit but there’s a 5% balance transfer fee, you’ll only be able to transfer $4,750, since you’ll have to include a $237.50 balance transfer fee.