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Transfer A Credit Card Balance

by Samantha Bennet on 2013/12/02

transfer a credit card balance

Why Should You Transfer A Credit Card Balance?

If you’re looking to save money on the interest rate of your credit card, then the best option that you should look at is to transfer a credit card balance.

Millions of people are doing it and there are more than enough successful stories out there how people get out of debt just by switching to an interest free credit card.

Transfer a Credit Card Balance to a 0 APR Card and Save Money

All you need to do is to compare your existing debt against the potential new card and you can calculate how much you would be saving during your transfer period.

If you have more than one credit card that you would like to put up for credit card balance transfer, then you can consolidate both these amounts and put it into one new card.

To help you decide on this, all you need to do is to consider how long would it take for you to pay off your debt. If you can pay off your debt if you are given a span of 6 to 12 months without any interest, then the best way is to go for balance transfer to a new credit card.

The new credit card would offer an introductory interest-free period under which whatever you pay to the card will be deducted right from the principle and not from the interest. This way your credit is not hurt and you get to pay it off without any trouble at all.

Always remember to go for a credit card that allows you the leverage period you need to pay off your debt.

Credit card companies offer six months to 24 months interest-free period on credit card so that you can plan your payments and get out of debt.

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