Can You Close Your Credit Card After a Balance Transfer?

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?

Balance Transfers Won’t Affect Credit Card Rewards Payout

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

How to Avoid the Credit Card Balance Transfer Trap

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

Can You Balance Transfer a Cash Advance?

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?