If you have credit card bills that are getting a little hefty, you might think about a credit card balance transfer. You’re taking all those other credit card bills, and moving them to one.
Here’s how you do it.
The key is to find a credit card with a low or 0% balance transfer fee.
Next, use that low “teaser rate” to your advantage. That’s the rate to attract you to the card, and it has to last at least 6 months. Some last longer, so give them a look.
Then, try to pay off your balance during that teaser period.
A lender will take a look at your credit history. Usually, your credit has to be pretty good credit to qualify for these balance transfer cards. If it’s not, you might want to consider a personal loan to replace that credit card debt.
But if you qualify, transferring your credit card balances could save you cash.
Do us a favor please. Tell your friends about us so they can be smarter about their money too.
