My wife and I are looking to do a balance transfer and I was looking for some advice about how they work, where to find the cards with the best rates etc. Any info would be appreciated
2007-07-08 06:33:28 · 3 answers · asked by jesse_freiburger 1 in Business & Finance ➔ Personal Finance
BEAR IN MIND.
If you have or carry an existing balance on a card, all payments will be applied to the balance with the lowest interest rate, usually applied to a balance transfer.
This means that any charges or current balance will have no payments applied until the transfer is paid in full.
Can you see interest compounding on new charges or current balance?
Be careful. Read the terms throughly.
2007-07-08 06:40:30 · answer #1 · answered by ed 7 · 1⤊ 0⤋
i would start by going to bankrate.com. you can compare the rates on various cards. I did a balance transfer about 5 years ago or so with my credit union and it was very simple. I just provided them with copies of my statements and they took care of paying off the balance.
good luck!
2007-07-08 14:00:33 · answer #2 · answered by PhillyFilly 3 · 1⤊ 0⤋
your best bet is to research the company you want to use...they're several good ones out there but I think you want to look at the cards that offer you free stuff (air miles, gift certificates, etc.) Get one that you would use the freebies frequently...also the get the best rates available.
Research them...best way
2007-07-08 14:29:33 · answer #3 · answered by chicagoavonlady 3 · 0⤊ 0⤋