Be strategic with the credit card balance transfer

A lower interest rate can save you money from high APR credit card balance a bucket. You can, for example, saving $ 750 moving from 18 percent of card balances of $ 5,000 a charge zero interest for 12 months.

However, not all balance transfer offer is straightforward, the Consumer Financial Protection Bureau issued a warning a few days ago. For example, low (or zero) interest rates may only apply to the balance transferred; a higher speed kick immediately for new purchases. See rate will be in the promotion of what in the end yes. How do you balance will largely pay off higher rate before the entry into force? Do not forget (usuallY 3%), as well as any annual fee balance transfer fee figures.

To pay bills on time to make sure you will not impose a punitive interest rate. Howard Dworkin, chairman of the board, I recommend that you pay off the balance each month early, if possible, to make sure you do not miss the deadline, then check payments received by the Issuer. After

To check how long you have, you open a new account, capture the best balance of speed and lowest charge transfer. If you do not have first-class credit, you may not meet the minimum advertised speed, although you have to offer interest rates may still be better than you are currently on the card. To help you decide whether it is worth the balance transfer, use this calculator.

We Recommend: In the Chase Slate card. It has no annual fee and no FEe balance transfer fee, moving the money as long as 60 days after you open an account. For the rate of charge transfer and purchased the first 15 months of 0%.