Monthly Archives: August 2010
Don’t Balance Transfer Disputed Charges
More in my series of balance transfer pitfalls… The credit card issuers warn you themselves about this common problem if you read the fine print. I dug down into Citibank’s disclosures, and found the following line: “You should not transfer ... Read More »
Continue Making Payments During a Balance Transfer
While I believe credit card balance transfers are a great tool to manage debt and get rid of finance charges, it’s still important to point out all the possible drawbacks. One such issue is missing a payment on your old ... Read More »
Watch Out for the Default Rate on Balance Transfer Credit Cards
I’ve already spoken about the benefits of balance transfers in depth, along with the problems and pitfalls. But one thing I forgot to mention was the default rate on balance transfer credit cards. By default rate, I mean the interest ... Read More »
Balance Transfer Minimum Payment
How Much Are You Required to Pay Each Month? One downside to a credit card balance transfer is that the minimum payment may be higher than that on a standard credit card balance tied to purchases. For example, Discover calculates ... Read More »