 TITLE: Is There a Limit on Balance Transfers? CONTENT: How a Balance Transfer Works\n----------------------------\nWhen you make a balance transfer, you are moving all or part of an existing balance from one or more credit cards to another, usually to take advantage of better interest rates. The transferred amount on your balance transfer card becomes subject to the rates and terms of the account.\nOnce you're approved for a balance transfer card (or decide to take advantage of a special balance transfer rate on an existing card), the new credit card will pay off your existing balances as instructed by you, or send you checks that you can then send to the accounts you're paying off.\nA balance transfer can be advantageous when the account you're transferring your balance to has a lower interest rate, or possibly even a 0% annual percentage rate (APR) introductory financing offer. However, most credit card accounts will impose a balance transfer fee of 3% or even 5% of the amount transferred, which will reduce the amount of money that you can save. Also keep in mind that if you don't pay off the transferred amount by the end of the promotional APR period, the balance will be subject to the ongoing interest rate, which will be much higher than the introductory rate. END