[USER]

I’m looking to do a balance transfer from a current credit card, so I can finally pay it all off.

I know with transfer fees, it might be pointless, but I figured it couldn’t hurt to ask since you guys seem to know a lot!!

[Tommy]

The CC company hopes you miss a payment and you’ll be charged 30% (example) from the start of the original amount. Scary

[Brittany]

I use care credit but I don’t know how it works with transfer. I use it for vet bills, dental, surgeries not covered by my insurance etc. wouldn’t hurt to look into, even if just for future refernce.

[Allison]

It would never be pointless with transfer fees as they range from 0-5% of the balance which is less overall than credit card interest. I get offers constantly for balance transfers. Bank of America cards, discover IT, citi. Look around.

[Michelle]

Keep in mind if you don’t have the entire amount paid off by the end of the zero interest period. They go back and charge crazy interest for the entire amount you transferred.

[V Ann Crook]

I suggest Credit Karma. You can see all your credit info and it gives suggestions for balance transfers (and the likelihood of approval).

I would use an online calculator to see how much you would pay in interest leaving the debt where it is currently. Compair that number to how much the transfer fee to be sure which is going to save you the most money. Keep in mind the end of the promo rate.

[Author]

Posts