Balance Transfer: Canada Debt .ca defines Balance Transfer

Bankruptcy Term Balance Transfer

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Canada Debt has the definition to the bankruptcy and debt term Balance Transfer. Finding answers to terms such as Balance Transfer can be difficult, especially if there is more than one definition which is why we have created a page dedicated to financial terms dealing exclusively with debt. Balance Transfer in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Balance Transfer' is used as follows:

The transfer of an outstanding credit card balance from one card to another, usually between different institutions. The new card issuer usually charges interest from the day the amount is transferred to the new card -- there is no interest-free period.