Latest Posts
Don’t Use a Balance Transfer to Pay Off the Mortgage!
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
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 »
Compare Balance Transfer Fees
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
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 »
Capital One No Fee Balance Transfers Aren’t Free
Capital One has been sending out no fee balance transfer offers to existing customers, but from what I’ve seen, the offers aren’t 0% APR. Talk about deceiving, right? If you visit the balance transfers page when logged in, you can ... Read More »
0% APR for 18 Months on Balance Transfers
Citi has released a new credit card balance transfer that offers 0% APR for up to 18 months. Yep, 18 months. But remember, the key phrase is “up to.” If your credit isn’t where they want it to be, you ... Read More »
Chase Balance Transfers for Existing Customers
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 »