Just a friendly reminder: Discover’s promo of 0% on purchases and balance transfers for 12 months with no balance transfer fees is expiring in just a few days on February 28, 2011. If you want to take advantage of this offer, you’ll need to jump on it soon.
Tags: 12 Months, Balance Transfers, Fees
Balance transfers are perhaps the easiest way to consolidate credit card debt and pay off multiple balances simultaneously. By consolidating the debt to a credit card with a low interest rate, the cardholder can effectively reduce the total amount of debt that needs to be repaid in the long term.
In fact, if a credit card with a zero APR introductory period is used as the main balance transfer card, then it is possible to completely eliminate interest and pay the balance off with no interest charged.
Unfortunately, there are occasions when balance transfer cards are used incorrectly, causing even more debt rather than reducing it. The following step-by-step manual on balance transfers can help anyone perform proper debt consolidation with a balance transfer credit card.
Step 1 – Finding a Balance Transfer Credit Card
The first step is finding a new credit card that will accept balance transfers at an attractive interest rate and without charging exorbitant fees. The most important features of a balance transfer card are the interest rates charged, both during and after the introductory period, and the length of the introductory offer. I
Tags: Balance Transfers, Transfers
Recent Comments