How does a balance transfer work?

A balance transfer is a type of credit card transaction that allows you to transfer an existing balance from one credit card to another. This is typically done to reduce interest payments or take advantage of a promotional offer. In Nevada, credit card companies must allow consumers to perform balance transfers as part of the Credit Card Law. To perform a balance transfer, you will need to provide the details of both your existing credit card with the existing balance, and the new credit card you are transferring to. You will also need to specify the amount you would like to transfer. The credit card company will then move the funds from the old card to the new card, up to the available credit limit. Once the funds have been transferred, you will no longer be obligated to pay the old credit card company. Instead, you will be responsible for making payments to the new credit card company. It’s important to keep in mind that balance transfers can often come with fees, so it is important to carefully read and understand all the terms and conditions before completing the transfer.

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How does a balance transfer work?

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