Strategies For Transferring Credit Card Balances


Paying Off Loans

Transferring your credit card balance to a new card with a low or zero interest rate on balance transfers can be a useful money saving idea if you are disciplined and vigilant. If you think that you want to adopt this strategy for paying off credit card debts then there are 2 methods that you can choose :
1) You can choose a new credit card with a low interest rate that is applied only to the balance that is transferred, but for as long as the balance remains outstanding.
2) Alternatively you can transfer the credit card debt to a card that has zero interest on balance transfers for a specified period and then, after that period expires, transfer it again to another card with a zero interest rate on balance transfers. This method save you more money in interest repayments, but you have to do more work, be vigilant about the expiry date of the introductory period, make sure that you pay off debts as you go along and also be careful that applying for too many credit cards doesn't hurt you personal credit rating.

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