![]() Having an outstanding credit card balance that you're unable to meet repayments on could risk hurting your credit score. If you have not paid off your balance in full by the time the balance transfer period ends, the outstanding balance will immediately begin accruing interest at the credit card's standard purchase rate. This will vary depending on the credit card provider’s own terms and conditions.Īfter a balance transfer credit card's interest free period has expired, the card will revert to its standard purchase rate, which is typically quite high. This balance transfer offer is typically several months, and can climb as high as two years. The amount of time you have to pay off your existing balance without being charged credit card interest is called the balance transfer period. These are typically higher than the purchase rate, so be wary of how this cost may impact your budget.
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