What is interest rate on balance transfers on a credit card?

Does this mean that if the interest rate is 1.9% that is the only interest that I will pay on the money transfered?





I am tryign to pay my credit card off and its very hard !|||There is the balance transfer APR, which in your case may be 1.9% if you're reading it correctly. Then there are balance transfer fees, which range from 3-5%, although there are sometimes no fee balance transfers. Be sure to read the fine print so you know exactly what you're being charged. And don't just take up the offers that come to you, shop around to see all available offers. Most offers delivered to you aren't the best around, not by a long-shot.|||Right. Actions that qualify for different interest rates live in their own little 'bubble' in your account, so it's possible to have that 1.9% transfer and the 18% purchases right along with the 24% cash advances (avoid those!), each being charged interest at their own rate.





And yes, it is hard. There are two things you really need to do to get serious about paying off your debt: don't create more debt, and stick with it even if it doesn't look like it's doing much at first.





1. Take the card out of your wallet and put it in a drawer. Do not add to your balance, that eats up your progress.


2. Cancel every recurring charge (such as Netflix, etc.) or move them to your debit card.


3. Pay as much as you can handle, even if you have to start out small.


4. Next month, pay the same amount. Don't follow the minimum amount downward.





If you're paying close to the minimum, those first few months will look like nothing is happening, but if you track the amount of interest you're paying you'll see that it's shrinking as the balance does, and each payment will be more effective as time goes by. Good luck!