I have a $3000 credit card with 18% APR, and I receive many letters in the mail for new credit cards offering 3-4% low balance transfers... waht is the process???
2007-01-24 10:51:56 · 7 answers · asked by Thomas G 2 in Business & Finance ➔ Credit
Choose a new card you would like to apply for. Then, fill out the application. On the bottom of the application, there should be a space that says Transfer Balances Here or something like that. You put in your current credit card and the amount you want transferred. Then you submit your application. Assuming the new credit card accepts you, and your limit is high enough, you will start out with the balance you transferred on your new card. That company will pay your old card company the amount you specified. My suggestion: Get rid of the old card once you get your new one.
2007-01-24 10:59:20 · answer #1 · answered by Pooky 4 · 0⤊ 0⤋
also keep in mind when transferring balances there is usually a fee. It is usually anywhere from 5% (depending on the amount) up to 75 dollars. When I do transfers in that $3,000 amount I get charged the 75 bucks BUT have the APR lowered is worth what they charge you. Also make sure how long that 3-4% is good for. It usually will say on the application. If you are given a choice such as 0% until September of 2007 (example) OR 3-4% for the balance until it is paid off.
2007-01-24 11:03:43 · answer #2 · answered by deflepster 2 · 0⤊ 0⤋
3000 is not large in the eyes of credit companies. Lowering your APR is a common thing. Simply call one of the companies, apply and ask about transferring. They are more than happy to do so. Sure you might get a fee but 18 percent as opposed to 3 or 4? You will save in the long run. The companies love people who are willing to not take this step and pay the ridiculous 18%. People who have messed up don't think of this and they are more than happy to take your money. Bottom line..... switch as you can do no worse.
2007-01-24 11:38:50 · answer #3 · answered by jackson 7 · 0⤊ 0⤋
It all depends when you transfers this and if you were still a Joint user. The credit company should of told you, that he removed you from the account. I would contact your lawyer immediately and get this resolved. If you didn't know you were removed that not your fault. That is the credit card fauilt. Credit card company won't do nothing.
2016-05-24 05:39:35 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Sign up for the card and if you get approved then you can transfer balances to the lower APR. Its pretty simple actually.
2007-01-24 10:56:24 · answer #5 · answered by tchem75 5 · 0⤊ 0⤋
Fill out the application, apply for the card. In the application just give them the credit card number, institution and how much you want transferred. They take care of all of it if and when they approve your application and issue a card.
2007-01-24 10:55:59 · answer #6 · answered by Uncle Pennybags 7 · 0⤊ 0⤋
You can actually apply for 0% transferring rate for 18 month
try here to found them
http://www.bestcreditrates.net
2007-01-24 15:55:51 · answer #7 · answered by Anonymous · 0⤊ 0⤋