6 Best Balance Transfer Cards

6 Best Balance Transfer Cards

Overall Best Balance Transfer Credit Card
#1
Chase Slate Credit Card
  • Doesn’t require a perfect credit score
  • No annual fee
  • Accepted pretty much everywhere
Best Visa Balance Transfer Credit Card
#2
U.S. Bank Visa Platinum Card
  • Low APR, even after the promotional period ends
  • Flexible due dates
  • Online account management
Best Balance Transfer Credit Card for Long-Term Use
#3
Citi Simplicity Credit Card
  • No late fees
  • No annual fees
  • Generous promotional APR (the longest on our list!)
Best Mastercard Balance Transfer Credit Card
#4
Barclaycard CashForward World Mastercard
  • Cash rewards
  • 0% introductory APR
  • Transfer-friendly card

After 15 hours of research evaluating 100 products, we picked Chase Slate Credit Card as our top choice.

Got a balance on your credit cards? Join the club.

Less than 1 out of 3 Americans pay their credit cards in full each month. And the remaining cardholders? Well, more than 42% of credit card users carry a balance, and approximately 28% of credit cards are active but unused.

So a list of the best balance transfer cards available is well worth your read and may pay off in spades. Because with statistics like that, it’s not surprising that the average household has more than $16,000 of credit card debt.

If you can relate - or even if your debt is nowhere near the average amount - you might benefit from securing one of the best balance transfer credit cards around.

Wait...you want me to get another credit card?

Yes, but only if it helps you! Racking up more debt on a new card obviously won’t help, but transferring your existing debt to one of the best balance transfer cards with a lower interest rate might.

We’ve compiled a detailed list of the best balance transfer cards to help you say sayonara to high interest rates on existing balances. If your FICO score needs some TLC, you might want to check out our list of the best credit cards for bad credit or the best secured credit cards instead.

Editorial Note: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.


Editorial staff

6 Best Balance Transfer Cards

6 Best Balance Transfer Cards

Read Video Infographic Tips

After 15 hours of research evaluating 100 products, we picked Chase Slate Credit Card as our top choice.

Got a balance on your credit cards? Join the club.

Less than 1 out of 3 Americans pay their credit cards in full each month. And the remaining cardholders? Well, more than 42% of credit card users carry a balance, and approximately 28% of credit cards are active but unused.

So a list of the best balance transfer cards available is well worth your read and may pay off in spades. Because with statistics like that, it’s not surprising that the average household has more than $16,000 of credit card debt.

If you can relate - or even if your debt is nowhere near the average amount - you might benefit from securing one of the best balance transfer credit cards around.

Wait...you want me to get another credit card?

Yes, but only if it helps you! Racking up more debt on a new card obviously won’t help, but transferring your existing debt to one of the best balance transfer cards with a lower interest rate might.

We’ve compiled a detailed list of the best balance transfer cards to help you say sayonara to high interest rates on existing balances. If your FICO score needs some TLC, you might want to check out our list of the best credit cards for bad credit or the best secured credit cards instead.

Editorial Note: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.


Editorial staff

Best Discover Balance Transfer Credit Card

Best Discover Balance Transfer Credit Card: Discover it Credit Card
Apply Now
On Card Issuer’s Secure Website
  • Variable APR
    13.24% - 24.24%
  • Cash Advance APR
    26.24%
  • Rewards Rate
    1.0%
  • Annual Fee
    $0
  • Intro APR
    0% on Purchases and Balance Transfers for 14 months
  • Bonus Offers
    Discover will match ALL the cash back earned at the end of your first year, automatically.

Pros

  • Promotional APR encourages balance transfers
  • Cash-back rewards
  • Great for short-term and long-term use

Cons

You generally need excellent credit to get approved.

Details

  • Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate.
  • Earn 1% unlimited cash back automatically on all other purchases.
  • INTRO OFFER: Discover will match ALL the cash back earned at the end of your first year, automatically.
  • Redeem your cash back for any amount, any time. Cash rewards never expire.
  • Use your rewards instantly at Amazon.com checkout.
  • No annual fee.

Application Process: A quick, hassle-free online application lets you know if you’re approved as soon as you submit your form. Once approved, you’ll receive a credit line that’s at least $500.

Bonus Offers: The Discover it Credit Card piles on the bonuses! There’s a promotional 0% APR that runs for 14 months, covering new purchases as well as balance transfers. Plus, the card matches any cash-back rewards you earn during the first year!

Rewards: Collect anywhere from 1% to 5% cash back for every purchase. The categories that qualify for 5% back rotate quarterly, so make sure you opt in to receive these promotional rewards.

Cash rewards don’t expire, and you can redeem them for statement credits, Amazon gift cards, or direct deposit. You can also donate rewards to participating charities.

APR: A variable APR between 11.99% to 23.99% kicks in after the 0% promotional APR ends. Expect to pay a 25.99% APR for cash advances in addition to a cash advance fee.

Annual Fee: No annual fee - so now you’ve got extra funds to pay off those balances you transferred!

Best American Express Balance Transfer Credit Card

Best American Express Balance Transfer Credit Card: Blue Cash Everyday® Card from American Express
Apply Now
On Card Issuer’s Secure Website
  • Variable APR
    14.24% - 25.24%
  • Cash Advance APR
    26.49%
  • Rewards Rate
    1.0%
  • Annual Fee
    $0
  • Intro APR
    0% on Purchases and Balance Transfers for 15 months
  • Bonus Offers
    $150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months. Terms Apply.

Pros

  • Great rewards on everyday spending categories
  • Generous promotional APR and no annual fee
  • Bonus for new cardholders

Cons

  • You could earn more rewards with the Blue Cash Preferred® Card from American Express
  • The card's APR is above-average
  • Its base rewards rate is mediocre

Details

  • $150 statement credit after you spend $1,000 in purchases on your new card within the first 3 months.
  • No annual fee.
  • 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%).
  • 2% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.
  • Low introductory APR: 0% for 15 months on purchases and balance transfers, then a variable rate, currently 14.49% to 25.49%.
  • Expanding merchant acceptance: Over 1 million more places in the U.S. started accepting American Express cards in the last year.
  • Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.

Application Process: You can apply online or over the phone. You’ll have a response in just a few seconds if you’re automatically approved.

Bonus Offers: You'll earn $150 in Reward Dollars after you spend $1,000 in the first three months. 

Rewards: You earn between 1% and 3% cash back for qualifying purchases, and you can trade your rewards for statement credits, gift cards, merchandise, or travel.

APR: You'll get a 0% APR promotion on purchases and balance transfers for 15 months, and a variable APR of 14.49% and 25.49% after that. There's a 29.99% penalty APR and a cash advance APR of 26.74%.

Annual Fee: None

Best Mastercard Balance Transfer Credit Card

Best Mastercard Balance Transfer Credit Card: Barclaycard CashForward World Mastercard
Apply Now
On Card Issuer’s Secure Website
  • Variable APR
    See terms.
  • Cash Advance APR
    See terms.
  • Rewards Rate
    See terms.
  • Annual Fee
    See terms.
  • Intro APR
    See terms.
  • Bonus Offers
    See terms.

Pros

  • Cash rewards
  • 0% introductory APR
  • Transfer-friendly card

Cons

A hefty 3% foreign transaction fee means this card isn’t ideal for use abroad.

Details

Application Process: Spend a few minutes filling in basic info like your name and date of birth to find out whether you qualify. You need decent credit, so hold off on applying if your FICO needs help.

Bonus Offers: Jackpot - there’s a promotional APR and a cash-back bonus for new cardholders! Enjoy a 0% on transfers and new purchases for the first 15 billing cycles, plus rack up a $200 cash rewards bonus if you spend at least $1,000 during the first 90 days. FYI, transfers do not count toward the cash-back bonus, and you have to transfer balances within 45 days for them to qualify for the 0% APR.

Rewards: Yay - you can actually earn rewards with this card! Most of the best balance transfer credit cards lack this feature.

Earn unlimited 1.5% cash-back rewards on every qualifying purchase, plus score a 5% redemption bonus each time you redeem your rewards. There’s no expiration date for cash rewards, and you can cash out in $50 increments via direct deposit, gift cards, or statement credits.

APR: Once the promotional period ends, you’ll pay a variable APR that’s either 15.99%, 20.99% or 23.99%. Could be better, could be worse.

Annual Fee: None! You pay $0 per year.

Best Balance Transfer Credit Card for Long-Term Use

Best Balance Transfer Credit Card for Long-Term Use: Citi Simplicity Credit Card
Apply Now
On Card Issuer’s Secure Website
  • Variable APR
    15.24% - 25.24%*
  • Cash Advance APR
    See terms.
  • Rewards Rate
    n/a
  • Annual Fee
    $0
  • Intro APR
    0% for 18 Months
  • Bonus Offers
    n/a

Pros

  • No late fees
  • No annual fees
  • Generous promotional APR (the longest on our list!)

Cons

No rewards program. However, many people use this card for balance transfers rather than new purchases.

Details

  • The ONLY card with No Late Fees, No Penalty Rate, and No Annual Fee…EVER
  • 0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the variable APR will be 15.24% - 25.24% based on your creditworthiness*
  • There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater
  • The same great rate for all balances, after the introductory period
  • Save time when you call with fast, personal help, 24 hours a day - just say “representative”
  • Enjoy the convenience of setting up your own bill payment schedule on any available due date throughout the month

Application Process: Apply online in just a few minutes for a quick approval, or call 1-800-526-2323 to apply via phone.

Bonus Offers: Hold on to your hats: There’s a 0% APR for 21 months! That’s the longest promotional APR on our list, and cardholders love it.

Rewards: Who needs rewards when you’ve got 0% APR for 21 months? This card doesn’t offer any rewards, but it does have perks like 24/7 account assistance and automatic account alerts (no more surprises at the checkout!).

APR: The promotional APR lasts for nearly 2 years, but then your rate increases to somewhere between 14.99% and 24.99%. The APR for cash advances is also 14.99% to 24.99%, which is significantly lower than the other cards on our list of faves.

Annual Fee: No annual fee. In fact, this Citi card charges very few fees for anything. There’s no late fee or penalty APR, but there is a returned payment fee of $35.

Best Visa Balance Transfer Credit Card

Best Visa Balance Transfer Credit Card: U.S. Bank Visa Platinum Card
Apply Now
On Card Issuer’s Secure Website
  • Variable APR
    11.24% - 23.24%
  • Cash Advance APR
    24.99%
  • Rewards Rate
    n/a
  • Annual Fee
    $0*
  • Intro APR
    0%* on purchases and balance transfers for 18 billing cycles*
  • Bonus Offers
    n/a

Pros

  • Low APR, even after the promotional period ends
  • Flexible due dates
  • Online account management

Cons

You need excellent credit to get approved, so take some time to repair your credit history if you don’t have a high FICO score yet.

Details

  • 0% Intro APR on purchases and balance transfers for 18 billing cycles. After that, a variable APR currently 11.24% - 23.24%
  • Great Offer for Customers of U.S. Bank, a 2017 World's Most Ethical Company® - Ethisphere Institute, March 2017
  • No Annual Fee
  • Flexibility to choose a payment due date that fits your schedule
  • Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your U.S.Bank Visa® Platinum Credit Card. Certain terms, conditions, and exclusions apply.

Application Process: It takes just a few minutes to apply online, but you might not receive an immediate response. Several cardholders report that they had to call and verify their application info prior to receiving this card.

You can also apply at a local branch if you’re a U.S. Bank member. Remember, you generally need excellent credit to score an approval.

Bonus Offers: Take your time transferring balances - this card gives you a whopping 18 months with 0% interest on new purchases and balance transfers!

Rewards: This card doesn’t offer any rewards, but it does still have some perks. For starters, you can choose your payment due date to avoid falling behind on your bill. Also, you can get up to $600 in damage protection for your cell phone if you pay the bill using this card.

APR: After your promotional APR ends, you’ll pay a variable APR of anywhere from 10.99% to 22.99% depending on your credit history. 10.99% is one of the lowest APRs we’ve seen for any credit card, not just the best balance transfer credit cards.

Annual Fee: None! Just the way we like it.

Overall Best Balance Transfer Credit Card

Overall Best Balance Transfer Credit Card: Chase Slate Credit Card
Apply Now
On Card Issuer’s Secure Website
  • Variable APR
    16.24% - 24.99%
  • Cash Advance APR
    26.24%
  • Rewards Rate
    n/a
  • Annual Fee
    $0
  • Intro APR
    0% on Purchases and Balance Transfers for 15 months
  • Bonus Offers
    Save with a $0 introductory balance transfer fee and get 0% introductory APR for 15 months on purchases and balance transfers, and $0 annual fee. Plus, receive your monthly FICO® Score for free.

Pros

  • Doesn’t require a perfect credit score
  • No annual fee
  • Accepted pretty much everywhere

Cons

Some folks complain that the interest is too high, but keep in mind that it varies based on each cardholder’s credit history.

Details

  • $0 Introductory balance transfer fee for transfers made during the first 60 days of account opening
  • 0% Introductory APR for 15 months on purchases and balance transfers
  • See monthly updates to your FICO® Score and the reasons behind your score for free
  • No Penalty APR Paying late won't raise your interest rate (APR). All other account pricing and terms apply
  • $0 Annual Fee

Application Process: Apply online and find out immediately if you’re accepted. You have the option to apply by logging into a current Chase account, if desired.

This card is more lenient than others on our list when it comes to credit issues, which is one of the reasons we chose it as the best overall balance transfer credit card. You probably won’t get approved if you’ve got a FICO in the 400s, but we’ve heard some reports of people in the high 500s and low 600s scoring approvals.

Bonus Offers: There are no balance transfer fees during the first 60 days, so you’ve got some time to decide which balances to transfer. After this promotional period ends, there’s a 5% balance transfer fee.

Rewards: This card doesn’t really have any rewards, but we’re okay with that because its primary purpose (at least in our opinion) is to transfer balances, not create new debt. If that’s a major dealbreaker for you, you might want to check out our list of the best rewards credit cards instead.

APR: For the first 15 months, there’s a 0% APR on new purchases and balance transfers that were initiated when you opened your account. After that, your variable APR jumps to anywhere from 15.99% to 24.74% depending on creditworthiness.

Annual Fee: Woo hoo - no annual fee! That’s great since you don’t need another transaction on this card if you’re just using it for balance transfers.

It’s common to carry a balance on your credit cards. We don’t recommend it, but we’re not here to lecture you. We just want to give you the facts about balance transfer credit cards so you can choose the right one for your personal finance needs.

We’ve spent hours collecting common questions about balance transfer credit cards to help you use your cards responsibly. Keep reading for detailed info on everything from the application process to rates and fees for balance transfer credit cards.

General Questions About Balance Transfer Credit Cards

What is a balance transfer credit card

A balance transfer credit card is a line of credit issued in the form of a plastic card. Any qualifying individual over the age of 18 can apply, but keep in mind perks are geared toward current credit card users with balances. We recommend that you skip this type of card if you’re a new credit card user or if you’re someone who pays off your balance in full each month.

Who is a good candidate for a balance transfer credit card?

A balance transfer credit card is designed for credit card users who carry balances. You might be a good candidate for a balance transfer credit card if you meet the following qualifications:

  • You have credit cards with balances that aren’t excessively high (if you have a maxed-out card with a $50,000 limit, that’s too high)
  • You are more interested in paying off existing debt than using a new credit card for everyday essentials
  • You want a lower APR for your debt than what you currently have
  • You are at least 18 years old
  • You have a stable source of income
  • You are not dealing with an undischarged bankruptcy or planning to file bankruptcy in the near future

How is a balance transfer credit card different than a regular credit card?

A balance transfer credit card is a regular credit card. It’s just referred to as a balance transfer credit card because it targets current cardholders that carry balances on other cards. When these cardholders transfer their balances to a balance transfer card, it can help them save big bucks on interest. We’ll talk more about that later.

Can I earn cash back with a balance transfer credit card?

Yes, if you choose a balance transfer credit card that offers cash-back rewards. The Barclay CashForward World MasterCard offers unlimited cash back for qualifying purchases. The card also has a 0% APR for 15 billing cycles, which gives you more than a year to make interest-free payments on your transferred balance.

What is the best balance transfer credit card?

The balance transfer card that’s best for you might not be best for someone else, like your neighbor or your BFF. However, we’ve rounded up 6 of our favorite cards to help you narrow down your quest for the perfect card.

Here are 6 of the best balance transfer credit cards:

  • Discover It Credit Card
  • Blue Cash Everyday Card from American Express
  • Barclaycard CashForward World MasterCard
  • Citi Simplicity Credit Card
  • U.S. Bank Visa Platinum Card
  • Chase Slate Credit Card

Our personal favorite is the Chase Slate credit card. That’s because it doesn’t require excellent credit, and there’s no annual fee. There’s a 0% APR for the first 15 months, making it possible for you to take your time paying off debt.

Applying for Balance Transfer Credit Cards

How do I apply for a balance transfer credit card?

Visit the website for the card you want, then fill out an online application. For your convenience, we’ve provided links to the websites of our favorite balance transfer cards in the review above these FAQs.

When available, you can also apply over the phone or fill out a paper application.  

Will I get approved for a balance transfer credit card?

Yes, if you meet the card’s requirements for approval. Each card has its own unique set of guidelines applicants must meet for approval.

Credit cards generally don’t publish a detailed list of approval requirements, but here are some factors that may help you score a balance transfer credit card:

  • Low debt utilization for existing accounts
  • Steady income from a job or another source, such as alimony or pension
  • No recent or current bankruptcy status
  • Good or excellent credit (depending on the card, sometimes fair credit is okay)
  • At least 1 or 2 years at your current address

Basically, credit card companies want to know that you are a responsible applicant who is probably going to pay your bill on time. If there’s any doubt, they might not approve your application.

When will I receive my balance transfer credit card?

Probably in a couple weeks, but it may take more or less time. Some credit cards provide immediate access via an app, so ask if that’s an option if you need access to your line of credit ASAP.

Why didn’t I get an instant approval for the card I want?

When you apply online for a credit card, the credit card company evaluates your app with an automated system. Sometimes red flags keep the automated system from approving your application, so it gets sent to the underwriting department (AKA a human being) for another look.

It can take 7 to 10 days for a human being to evaluate your application, so try to be patient. If you think you know why your app got flagged, call the credit card company and explain what happened. Your input may help speed up the approval process.

Can I apply for multiple balance transfer credit cards?

Yes, but it might not be a good decision. Do you really want to transfer debt from multiple cards to a bunch of different cards?

We recommend choosing one balance transfer credit card that fits your needs. You can do this by evaluating APR (promotional as well as regular), plus comparing rewards and cash-back options. We’ve done the hard work for you in our review above, so scroll up and save yourself some time.

Should I apply for a different card if I get rejected for the balance transfer credit card I want?

Eventually, yes. Tomorrow? No.

Applying for credit isn’t like buying a lottery ticket - you can’t just buy another one if you aren’t a winner. Take some time to address the issues that caused your rejection, and then apply for other credit cards. You should receive a denial letter that details the reasons for your rejection so you know exactly which issues to tackle.

Rates and Fees for Balance Transfer Credit Cards

What factors determine my APR?

Skim the Terms and Conditions booklet (every credit card gets some version of this) and you’ll probably notice your APR is determined by your creditworthiness. What does that actually mean? It means people with good credit generally get lower APRs than people with bad credit.

Unfair? Not to the credit card company. They know that history often repeats itself in the financial world, so someone who pays other credit cards late probably won’t rush to pay the bills for a new card on time.

Do I have the same APR for transferred debt and new purchases?

Possibly, but it depends on the card.

Many credit cards offer a promotional rate for balance transfers. During this time, you’ll pay a low APR - possibly even 0% - for transferred debt and new purchases. This promotional period typically lasts between 6 months and 15 months, but we’ve seen a handful of cards with promotional APRs that last nearly 2 years.

After that, you might have the same APR for all debt, old and new. If your credit card lets you transfer in debt after you’ve had the card for a while (as opposed to when you open the account), you might have different rates. Talk to your credit card company to get the scoop on your APR for balances and new purchases.

Is the APR for my balance transfer card always the same?

No, not if you have a promotional APR (we discuss that above) when you get your card. After your promotional period ends, you can expect your APR to increase significantly.

You might also have an increased APR if you miss a payment for your monthly statement or if you withdraw cash from an APR.

Will I have an annual fee for my balance transfer credit card?

You might, but there are lots of balance transfer credit cards that don’t have annual fees. We recommend the Chase Simplicity credit card, the Discover It credit card, and the Chase Slate credit card if you’re looking for cards with no annual fee.

How is my annual fee determined?

The credit card company determines the annual fee before you apply, so you don’t have to worry about any unpleasant surprises. Your credit history typically doesn’t affect your annual fee when you get a balance transfer credit card. Cardholders generally pay the same predetermined fee.

What if I can’t afford to pay my annual fee?

That’s a bummer, but you can’t escape the fee. The credit card company puts it on your statement rather than sending you a separate bill. There’s a good chance you’ll end up maxing out your card or having your balance go over your approved limit if you can't afford the annual fee.

You can potentially prevent this issue by paying more than the minimum amount due on your statement each month. Another option is to request a credit limit increase before your annual fee hits.

What are some common fees for balance transfer credit cards?

Some balance transfer credit cards charge a percentage of each balance transfer, such as 3% or $10. You may also end up with standard fees found on regular credit cards, including:

  • Late payment fees
  • Bounced check or reversed ACH fees
  • Cash advance fees
  • Over-the-limit fees
  • Foreign transaction fees

Sometimes you can get fees waived if you contact your credit card company.

Common Concerns Regarding Balance Transfer Credit Cards

Why wasn’t my balance transfer approved?

Occasionally a balance transfer doesn’t go through. This might be a simple issue on your credit card’s end that can be fixed, or there might be another reason for the rejection. Here are some reasons your balance transfer might not go through:

  • You requested a balance transfer that’s higher than your available credit limit or too close to your credit limit
  • Your previous credit card does not allow balance transfers (this might be the case if you are attempting to transfer the balance from a retail credit card to a new card)
  • You are currently in a payment agreement for a past-due balance
  • Your balance has been sent to a collection agency
  • You have a co-applicant on the card with the balance

In a situation like this, it’s best to contact both credit card companies and ask what’s happening. Make sure you talk to both of them, and don’t let them blame each other.

How do I know when my balance transfer is complete?

You might receive a notification if you’ve signed up for account alerts. If not, you can contact your new credit card company or your previous credit card company for the status of your transfer.

Before you transfer your balance, you can ask if there’s an estimated timeline for transfer completion

Will I get 2 bills for 2 separate cards if I transfer balances?

You might, but you shouldn’t get charged for the same debt twice. However, you’ll get 2 bills if you only transfer part of your debt or if there’s a debt-transfer fee on your first card.

If you do end up with 2 bills for the same debt, contact your first credit card company. They may have issued the statement right before you transferred your debt.

What if I only want to transfer part of my existing balance to my new card?

That’s probably okay! You don’t always have to transfer your entire balance to a new credit card.

Just make sure it’s worth it to keep a balance on your first credit card. Your new credit card might have a promotional APR that’s much lower than your existing card’s APR.

What if I can’t afford my credit card bill?

Pick up your phone and call the credit card company right now. Don’t send a letter via postal mail, and don’t email the company. It’s important to let a credit card company know what’s going on right away so you don’t get hit with late fees or negative marks on your credit report.

Will transferring a balance to a new card hurt my credit?

It might, but it’s hard to determine how it will impact your credit without seeing your current credit report. On a positive note, there’s also a chance that transferring a balance to a new card might help your credit.

If your new credit card has a higher credit limit than your existing credit card, it might help your credit if you transfer debt. That’s because your debt utilization ratio for the new card will be lower than it was for the old card. Your overall debt-utilization ration may also decrease because you're adding a new line of credit.

Missy Nolan is a single mom who is too sleep-deprived to come up with a clever bio at the moment. She has been a professional writer for more than 10 years and loves staying home with her 3 kids. Well, most of the time. Missy rocks at parenting, baking, cooking, saving cute outfits she'll never wear on Pinterest, and sipping her beloved secret-menu Starbucks Pink Drink while strolling through Target.

She's your go-to girl for advice or feedback on any of the things listed above, as well as tips on healthy living, bargain hunting, marketing, and finances. Connect with Missy here or at MakeItWithMissy.com, a food blog that features healthy recipes and grocery deals.

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