Balance transfer

A balance transfer is the transfer of (part of) the balance (either of money or credit) in an account to another account, often held at another institution. It is most commonly used when describing a credit card balance transfer. A balance transfer is the transfer of (part of) the balance (either of money or credit) in an account to another account, often held at another institution. It is most commonly used when describing a credit card balance transfer. Balance transfer allows people to move their debts such as credit card balances, student loans, home loan medical bills, car loans to a zero or lower interest rate credit card for a promotional or limited period. The overall amount and the types of balances that can be transferred depends on the credit card as well as credit score. Moreover, balance transfer should be done as per the timings allocated by the credit card company.