Save hundreds of dollars and avoid these traps when transferring your high credit card balances to lower interest accounts.
Walecia Konrad published these tips to Bankrate.com.
1. Keep track of time as special offers usually expire in 6 or 9 months.
2. Determine what interest rate applies to balance transfers and what rate applies to purchases, often these rates differ.
3. Watch out for fees assessed on the amount transfered.
4. Make sure your account applies the special rate. You may be offered one rate but your credit score may cause you to receive a higher rate than advertised. Read your paperwork before you use the account.
5. Pay on time. One late payment can terminate the special rate.
No related posts.
Comments on this entry are closed.