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Balance Transfer Cards
Transfer a high interest balance onto a low APR credit card. Balance transfer is a special offer from the credit card issuer. When you agree to transfer the balance from one credit card to another the creditor that you are transferring to issues a check for the other credit card company. Thus from the point of the company who you are transferring from it appears as if you made a single payment in the amount of the transfer. With most companies this should not cause any problems with the creditor you are transferring from. If you have doubts however it is best to check with them. Just give them a call and ask about your agreement with them.
How can credit card balance transfer save me money...
It saves you money by simply reducing your monthly interest charges. Before agreeing to a balance transfer make sure that you get the best rate fit for your budget and plans. If you are planning to take advantage of an introductory rate and hope to transfer again when the introductory rate is up you are taking chances. The chance that you won't be able to transfer again. In that case don't forget that the interest rate will go up after the introductory period. For example if the rates go up to 12.99% after the introductory period and you get stuck with them then after paying the interest charges after several months at that rate you'll be at the same level as if you would have taken a fix 9.99% low rate offer without introductory period.
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