Balance transfer Q&A: “Can you close your credit card after a balance transfer?” First things first, let’s do a quick refresher on how a balance transfer works to provide some background for this question. Put simply, when you execute a credit card balance transfer, you move existing debt from one credit card to another credit… Continue reading Can You Close Your Credit Card After a Balance Transfer?
Here’s an issue I’ve been seeing a lot of lately. Nowadays, credit card issuers are offering some pretty enticing deals to get customers in the door. In fact, it’s not entirely uncommon to see cash back bonuses of $500 or more, for spending say $3,000 during the first three months of card membership. Unfortunately, these… Continue reading Balance Transfers Won’t Affect Credit Card Rewards Payout
If you’re looking to save some money and balance your budget, the first place you should look is at unnecessary outflows of cash. You know, the $4 Starbucks coffee you buy each morning, or the expensive lunches you treat yourself to on a daily basis. But if you’re like me, or most Americans for that… Continue reading The Simplest Way to Lower Your Credit Card APR
I’ve written more than I ever thought I would about credit card balance transfers, but it seems most people are still in the dark when it comes to these money-saving tools. I would venture to say that most credit cardholders see balance transfer offers packaged among their monthly credit card billing statements, and do little… Continue reading How to Avoid the Credit Card Balance Transfer Trap
Most of the time I highlight the good qualities of credit card balance transfers. After all, they are designed to save credit cardholders money, so there is plenty of good to speak of. But there are some balance transfer drawbacks, which I’ve highlighted on this blog as well. One thing I haven’t mentioned specifically or… Continue reading Balance Transfers Do Not Have Grace Periods
Balance transfer Q%A: “Can you balance transfer a cash advance?” In an earlier post, I compared and contrasted balance transfers and cash advances, which are very different financial instruments. Put simply, credit card cash advances are an absolute last resort. Why? Well, for one they have sky-high interest rates. Don’t believe me? Look at any… Continue reading Can You Balance Transfer a Cash Advance?
A new balance transfer deal popped up on the Internet today, offered by the Pentagon Federal Credit Union. What makes this offer somewhat unique is that it’s a no fee balance transfer that offers a low fixed rate for life. In other words, the balance transfer APR will never change – it’s locked in at… Continue reading PenFed Life of the Balance Transfer With No Fee
There’s word of a new no fee balance transfer offer, this time from USAA. If you weren’t already aware, USAA, which stands for United Services Automobile Association, provides a slew of financial services to United States military and their families. So clearly this offer is limited to a select group of people, but if you… Continue reading USAA Balance Transfer, 0% No Fee
By now, you’ve probably heard about Bank Transfer Day, which was an initiative that called for consumers to move their money from large commercial banks to non-profit credit unions. Call it the 99% using their numbers to do one over on the 1%, if you catch my drift. The event took place on November 5,… Continue reading Balance Transfer Day: A Marketing Gimmick?
Chase Slate Balance Transfer Offer Is Hard to Beat Finally, an out-and-out no fee balance transfer offer with no costs whatsoever! That’s right, for a limited time (well, it’s been a few years now but I wouldn’t look a gift horse in the mouth), the Chase Slate credit card is a 0% APR no fee… Continue reading Chase Slate Balance Transfer: 0% APR and No Fees!