Transfer Balances To Bring Down Interest Rates
Posted on October 15, 2007
Filed Under Advice, Balance Transfer | Leave a Comment
One excellent means of doing this is to search out credit cards that offer low interest rates for balance transfers. Usually these are introductory rates, good for a limited period of time. Be aware of what rate you’ll be paying after the introductory period expires, and if it is high, you might want to transfer the balance again.
When you decide to transfer a balance, be certain that you don’t exceed the credit limit on the account you are transferring to. You should also send in at least your minimum payment due to the card you are transferring a balance from. That will protect you from late charges if the transfer doesn’t go through before your due date.
How can you find a card that will give you a low rate on balance transfers? It’s your job to be constantly aware of what rates are being offered by all the myriad companies offering credit. Balance transfers can save you a significant amount of money, if you can take advantage of it.
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