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MaryMary · 03-09-2007

Anyone who has been in credit card debt has struggled with this issue.

To transfer or not to transfer. If you can get a better rate and save a few dollars on interest each month then by all means transfer that balance!

(make sure there are no transfer fees or that the cost of the transfers will still substantially save you money over the period of the intro balance rate)

Try to transfer the whole amount to one card, but In my case I had to transfer to quite a few cards with 0% for 6-9 months.

A $500 balance at 0% interest for a 9 month intro period lets me make 8 payments of $62.50 and then that $500 of my debt is gone forever.

Maybe balance transfers are just what you need to pay down your debt.

03-09-2007	#1 (permalink)
MaryMary Member Join Date: Mar 2007 Posts: 55 Rep Power: 2	Transfer Balances Anyone who has been in credit card debt has struggled with this issue. To transfer or not to transfer. If you can get a better rate and save a few dollars on interest each month then by all means transfer that balance! (make sure there are no transfer fees or that the cost of the transfers will still substantially save you money over the period of the intro balance rate) Try to transfer the whole amount to one card, but In my case I had to transfer to quite a few cards with 0% for 6-9 months. A $500 balance at 0% interest for a 9 month intro period lets me make 8 payments of $62.50 and then that $500 of my debt is gone forever. Maybe balance transfers are just what you need to pay down your debt.