[jorian]

If you already have a balance on this card it will be paid off AFTER the balance transfer is paid.

IE:

CC Balance = $5000.00 - interest rate = 20%

NEW balance transfer amount = $10,000.00 - interest rate = 3.99%

Any payment made after the new transfer will be applied to the 10K with the lower rate leaving the previous balance to accrue at the old higher rate.

Obviously the key is to transfer a balance from your current card to a new one with zero balance and to keep this new card current. Another tip when transferring balances around: Don't carry a balance that exceeds 75% of the credit available for that account. This lowers your credit score even though you might be current with your payments.