BANK OF AMERICA FEE FOR WIRE TRANSFER HOW TO

Otherwise, you could wind up in more debt which could lead to bigger financial problems.Īnother detail to keep in mind is the fact that most credit card companies charge balance transfer fees, which are typically 3% to 5% of the amount you transfer. But it’s important to avoid future overspending.

In either scenario, an attractive balance transfer offer may save you money if you qualify for a lower interest rate than you’re currently paying. (Note: You’ll typically need good to excellent credit to qualify for balance transfer cards, as you do for most of the best credit card offers available.) Some credit card issuers may extend promotional balance transfer offers to existing customers as well - typically with a low APR for a set period of time. When you open a new credit card, you may be able to qualify for an introductory offer that features a low or 0% into APR on balance transfers for a limited time. But it’s important to understand how the balance transfer process works before you determine whether this debt consolidation tool is right for you. What is a balance transfer and how does it work?Ī balance transfer allows you to pay off existing debt with a credit card.

BANK OF AMERICA FEE FOR WIRE TRANSFER HOW TO

Here’s what you need to know about how to do a balance transfer with Bank of America.

Bank of America is the second largest bank in the United States, and several Bank of America credit cards feature 0% introductory APR offers for balance transfers.Īnd if you’re an existing Bank of America credit cardholder, you may be able to take advantage of balance transfer offers on that card as well. In general, balance transfers from different banks follow a similar pattern. A well-managed balance transfer could be a smart way to save money on high interest rates and pay off credit card debt at a faster pace.

Bank of america fee for wire transfer