Evelyn Boros, Credit Cards Moderator
@evelyn_boros
You cannot do a balance transfer with the opensky Credit Card because balance transfers to this card aren’t allowed.
Currently, none of the major issuers offer worthwhile balance transfer cards for people with bad credit. If you’d like to do a balance transfer, try improving your credit score first. The easiest way to boost your score is by paying your bills on time and staying well below your credit limit. With a higher score, you’ll eventually be able to apply for a good credit card that offers a generous 0% intro APR period for balance transfers.
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People also ask
Is it a good idea to do a balance transfer?
Doing a balance transfer is a very good idea if you need multiple months to pay off high-interest debt and you are able to qualify for a 0% balance transfer credit card. Most balance transfer cards require a 700+ credit score (at least good credit) for approval.
What you should know before making a balance transfer:
- You generally need good credit or better to get a 0% balance transfer credit card.
- Most balance...
What is a balance transfer APR?
A balance transfer APR is the interest rate you get charged on a credit card for the amount of debt that you transferred from another card or loan. Many balance transfer offers include an introductory 0% APR that lasts for a specified number of months, usually 6 to 21 months.
Once an introductory balance transfer APR expires, any remaining balance accrues interest at the card’s regular balance transfer APR. This interest accrues daily, and it is calculated...
read full answer by Jane Parker, WalletHub Credit Card AnalystDoes a balance transfer count as a payment?
A balance transfer does count as a payment to the original creditor to which you owed the balance. The issuer of the balance transfer card will submit payment to the old creditor for the amount of the transfer. Once the first monthly statement comes for your balance transfer card, you will need to begin making payments to that card’s issuer.
Things to Know About Credit Card Balance Transfers
- Balance transfer timelines vary by issuer....
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