Balance Transfer Advice

No Balance Transfer Fee Doesn’t Mean Best Deal

October 4, 2010 No Comments »

Consumers looking to execute balance transfers typically look for offers with no fee. But nowadays those usually aren’t the best deals, considering it’s near impossible to find a 0% APR balance transfer with no fee. If the balance transfer doesn’t ... Read More »

Don’t Use a Balance Transfer to Pay Off the Mortgage!

September 23, 2010 No Comments »

For some reason, certain people out there seem to think it’s okay to make their mortgage payments with a credit card. While there are (possibly were) a few services out there that allow you to pay your mortgage with a ... Read More »

Don’t Balance Transfer Disputed Charges

August 20, 2010 No Comments »

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

August 13, 2010 No Comments »

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

August 12, 2010 No Comments »

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

August 5, 2010 No Comments »

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 »

Compare Balance Transfer Fees

July 29, 2010 No Comments »

When comparing balance transfer offers, be sure to compare balance transfer fees as well. Ultimately, a balance transfer fee can be likened to the balance transfer APR, as you’ll be charged a certain percentage of your credit card balance for ... Read More »

Use Balance Transfers to Pay Off High Interest Rate Store Credit Cards

July 16, 2010 No Comments »

Let’s face it, we’ve all made a purchase at a department store or an electronics store, opting to put it on a store credit card instead of actually paying for it. And while it may have come with promotional APR, ... Read More »

Chase Balance Transfers for Existing Customers

April 26, 2010 2 Comments »

If you’re an existing Chase credit card customer, you can access personalized Chase balance transfer offers instantly online by going to their website. Simply log-on to their website and click on the “transfer balances” link next to your available credit ... Read More »

No Maximum Fee on Balance Transfers

April 16, 2010 No Comments »

Nowadays, a lot of credit card issuers have removed balance transfer fee caps, so there is no maximum fee they can charge. This is certainly something to pay attention to, given the fact that balance transfer fees can be sky-high ... Read More »