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What happens if I miss a payment during a balance transfer?

Curious about Balance Transfer

What happens if I miss a payment during a balance transfer?

If you miss a payment during a balance transfer, you may be subject to penalties and fees, which can vary depending on the terms of your credit card agreement. Generally, missing a payment will result in a late payment fee and may also cause your interest rate to increase. Additionally, if you fail to make payments on your balance transfer, your credit score may be negatively affected, which can make it more difficult to obtain credit in the future. It's important to carefully review the terms and conditions of your balance transfer agreement and make sure you are able to make payments on time to avoid penalties and fees.

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