Balance transfer credit card?

Credit and mortgage advice Forums Consumer Credit Credit Cards Balance transfer credit card?

This topic contains 4 replies, has 5 voices, and was last updated by  Anonymous 7 years, 9 months ago.



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  • #214928

    Anonymous

    0% interest for 12 months, 3% fee. I would love to get myself out of the little bit of debt I have leftover. which is about 3,100. Would my minimum payment jump drastically? I plan on paying more than my minimum and at the end of the 12 months, the interest is not retroactive. Would this be a good idea?



  • #278697

    Anonymous

    If you can pay the balance off before the 0% interest promotion ends its a great idea.

  • #283709

    Anonymous

    Ithink it’s a great as long as you can pay off the full amount within the year if you don’t it immediately turns ito a very high interest rate. Everyone was right about the vital importance of making sure your payment is received by the cc Company before the due date. Allow extra time for mailing. If you are late by one day all the original conditions are null and void and you’re stuck with the high interest rate.Your payments won’t go up they’ll go down because you won’t be paying interest. Pay as much each month as you possibly can and you’ll be out of debt in no time. Good for you for using your head in handling your finances

  • #284036

    Anonymous

    Make one late payment and those terms disappear.
    I hope others answer about that min payment – but you want it as high as possible, so you can have it paid off in the 12 months.
    You DO NOT want to face paying 3,000 by next christmas.
    /

  • #284437

    Anonymous

    Yes, if you can pay the balance off within the year. Otherwise, their high interest rates will come into play.

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