It’s when one credit card repays debts on other credit or store cards; so you now owe it the money instead, hopefully at a special cheap rate. A balance transfer credit card allows you to transfer your existing credit card balances and repay them at a much lower rate, sometimes even 0% interest, over a set term. If you still have a leftover balance after the balance transfer offer expires, the remaining balance will generally revert to the standard purchase rate for the credit card.
I read these article, and i realize it isn't just me that has a problem with AMEX. I had the experience with them dropping my limit. To add insult to injury, they stated the reason was my future ability to pay.
Be disciplined and do not put any more charges on your CCs if you want to pay off the bill ASAP. Once you transfer the balances to your new Citicard, do not use the card for purchases if the 0% interest does not apply to purchases. Best wishes to you!
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