 TITLE: What Is a Balance Transfer and How Does It Work? CONTENT: How to Complete a Balance Transfer\n----------------------------------\nTo begin the balance transfer process, and to make the most of your card:\n1.  **Choose the right** **balance transfer credit card**. You'll likely need a good or excellent credit score to qualify. Also specifically look for cards that offer a 0% intro APR for 12 months or longer and as low a balance transfer fee as possible.\n2.  **Verify the credit limit and fees.** You may receive a limit that is less than your total debt. Check the card's fees, transfer and purchase APR, the length of its promotional period, and the circumstances under which you could lose access to the 0% intro APR deal, including making a late payment.\n3.  **Determine how much to transfer.** Consider the new card's credit limit when planning your transfer. The new card's credit limit may mean you're only able to transfer a portion of an existing card's balance. Moving the balance with the highest interest rate will likely save you the most on interest.\n4.  **Complete your transfer.** Verify with the issuer whether you can make the transfer online, and check that you have the necessary information handy, including the original account number, to do so. Make sure to complete the transfer within the time limit the issuer specifies. If you're using a paper check to complete the transfer, make sure you fill it out completely and accurately to prevent any delays.\n5.  **Use the new card wisely.** Continue making payments on your previous balances until your new card's issuer confirms the transfer is complete. Don't make any purchases while you pay down balances on the new card. Additionally, calculate the monthly payment you'll have to make in order to pay off the balance by the end of the 0% APR period. Stick as closely to that schedule as you can. END