Does consolidating your credit cards affect your credit Phonechatforfree
The idea was simple in that all you needed to do was apply for a few credit cards offering 0% balance transfers, send the money to a high yield savings account and pocket the difference in interest. It just wasn’t me and subsequently, I never talked about it here.
The 0% balance transfer tactic worked well, with each card earning a couple hundred dollars before taxes with minimal effort. Now that the credit card companies are offering these 0% balance transfer offers in full force again, a reader took the plunge and wrote me an email that really changed my perception of these 0% balance transfer cards.
Once the new account has been opened, customers will usually find the telephone operators with their new credit card company more than willing to assist them in transferring the balances to their new account.
This is to be expected, of course, because they want as much of that money transferred into that account as possible – right up to the limit.
They also can provide budgeting and financial management training and advice to help you along the road to recovery.
This posts lists a bunch of the 0% balance transfer credit cards on the market today, and having the list in the first place was motivated by a reader who managed to pay off her debt with these 0% balance transfer offers.
0% balance transfer credit cards are promotional offer that creditors extent to attract customers.The offer permits you to transfer balances from other credit cards onto the new card at an amount up to your credit limit.You will pay 0% interest on the money transferred for a set period of time, usually between six months and one year.Below is her story along with the different choices out there on the market today, including a couple options with no balance transfer fees.
During the 0% balance transfer credit cards craze of recent years, many of my friends were calling me ignorant for not taking advantage of these balance transfer offers.
Sure, this may seem like a foolish exercise in futility at first glance – taking out a new credit card account to get rid of credit card debt – but nevertheless, the fact remains that this can be a remarkably effective tool in your arsenal when you want to save money and diminish credit card debt.