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Balance transfer APR

A balance transfer APR is the annual percentage rate of interest charged on a balance transfer transaction. Many credit card companies charge a separate APR on transferred balances. The balance transfer APR is generally slightly higher than the APR for purchases, but many newer cards may offer special balance transfer rates to encourage cardholders to transfer balances from other cards. Special rates usually apply for a specified period of time and apply only to balances transferred during the promotion.


Previous Credit Card Term: Balance transfer

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