Business terms and jargon explained. Your business dictionary

What is Balance Transfer

This is when you transfer a balance on an account or debt to another account or debt. When you transfer from account to another account is usually because they are offering a better interest rate. When you transfer a balance on a debt e.g., credit card, the usual reason is because better terms are on offer with fewer charges.

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Term created / updated 2006-05-31 22:57:31

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