I've always paid off my credit cards in full every month, but will almost totally wipe my savings account if I pay this month in full due to some unusual extra expenses. So, I'm considering paying half of the full amount and transferring the rest to a new credit card I recently got, but am wondering about the ramifications of doing so. (I've never done a balance transfer before.) My understanding is that transferring the balance would pay off the old one and then I'd have at least another month (without interest) to pay the rest of this month's expenses. Am I correct on all this? And more importantly, how would this affect my credit rating? Thanks
2007-06-24
04:59:30
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6 answers
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asked by
Anonymous
in
Personal Finance