Chip Lupo, Credit Card Writer
The Petal® 2 Visa® Credit Card does not allow balance transfers. In general, balance transfers let you to shift high-interest debt from your current account to another issuer’s credit card and pay off the balance, presumably at a reduced interest rate.
For a look at some of the top balance transfer cards on the market, check out WalletHub’s Best Balance Transfer Credit Cards page.
How to Choose a Balance Transfer Card
The objective of a balance transfer is to save money on interest, so you will want a card with a low introductory APR on balance transfers. Just be sure to pay off the transferred balance in full before the introductory rate expires. Otherwise, the remaining balance will accumulate interest daily at the card’s regular APR.
You can find out how much a balance transfer card with a low intro APR will save you in interest charges by using WalletHub’s balance transfer calculator. This tool will also recommend credit cards that may help you save money and get out of debt faster.
Petal® 2 Visa® Credit Card
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