However, this situation is unlikely to occur regularly, partly because the periods in which producers carry out hedging operations normally do not coincide with the periods in which consumers try to hedge. The speculator provides the link between these two different periods and interests.
A: The length of time for a balance transfer from one credit card to another credit may vary depending on specific circumstances. The amount of time can be as little as three to five business days or as much as two weeks. Many factors can influence the length of time that it will take for a balance transfer to go through.
Letâs backtrack to the example of $7,000 at 20 percent APR. If Kyle doesnât use a balance transfer heâll pay $2,507 in interest alone to Discover. Instead, Kyle decides to do a balance transfer to Citi Simplicity at a 0 percent APR for a 3 percent fee.Including the fee, it would only cost Kyle $555 to pay off his $7,000 in interest. Even with a fee, Kyle would save almost $2,000 by doing a balance transfer.ere's an example to show how a balance transfer could save you money: If Kyle holds $7,000 on his Discover credit card at a 20 percent interest rate, and pays $250 a month toward the debt, it will take him 39 months and cost $2,507 in interest to pay it off, according to MagnifyMoneyâs calculator.