- Discussion board

I have a $500 balance on a credit card with an excellent credit history on that card and with others with a 0 balance. I want to transfer the balance to a lower interest account with an introductory interest rate for balance transfers. If I transfer the balance will the interest charged to the account from the initial card transfer with the balance resulting in two interest charges (one interest from credit card 1 and then another interest from new credit card)?

You only are charged interest on the card that you have the balance on. If you transfer your balance from an old card to a new product, you can only be charged interest on the new card. You may want to cancel the old card in writing especially if the old card has an annual fee.