Balance Transfer

Posts Tagged ‘balance transfer’

Is it better to transfer credit card balances to 0% card or get personal loan to pay them off?

I have about ,000 in credit card debt and was wondering if it would be better for my credit to get a 0% transfer card and transfer my balances or get a personal loan to pay off the cards. I am a recent law school graduate and will be able to pay off the credit card or loan within the next 6 months. Thanks
Thanks for the responses! The 0% balance transfer option seemed the better choice to me but for some reason I feel like I’ve always heard that it can really hurt your credit rating if you pay off cards by getting a new card (which is why I considered the personal loan option).

The reason I feel forced to choose one or the other is that I was recently late in making one of my card payments (with the majority of debt on it) and my interest rate was increased to 22%. As I am still searching for a job and have student loan payments coming up, I just can’t afford to make the high minimum payments right now.

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How to combine 3 Credit Cards Onto 1 Credit Card?

Want to combine 3 credit cards into 1 credit card (less than 2700 total) Anyone know of a credit card with 0 Balance transfer at 0% interest? Also who charges the balance transfer fee? The credit card im payin off or the new cc? tryin to save money Please help….thanks for input.
I was planning on opening another card with a better interest rate….like 0 for 6 months….will this hurt my credit score….like to keep it where its at…above 750

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Is it better to take out a personal loan or apply for another credit card?

I am trying to pay off credit card bills (,000 in credit card debt), get a new laptop and set aside ,000 for a deposit on an apartment for next year. Is it better to take out a personal loan or apply for another credit card and do a balance transfer on it. Thanks!

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High interest credit card?

I have a credit card with an introductory interest rate of 0%, but after the first of the year, it goes to 24.75 %. I want to do a balance transfer of whatever I can’t get paid off by then, but I’m starting a new job this week. The new job is at a major bank, and they do have their own credit card. Is it possible to get approved with a new job? My balance is 40 as of now, I can probabally get it down to ,200 or so by the end of the year.
I just got my credit back into pretty darn good standing, and this is my only credit card. Any suggestions?

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Does anyone know of any credit cards that have $0 Annual fee and $0 Balance Transfer fees?

most i have found have {content} annual fee, but upto 3% balance transfer fee (max charge of )… any help is appreciated … thanks

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0% interest rate, transfer money into bank account from it, they consider that a balance transfer correct?

I had a 0% interest rate on my credit card and if I remember right they counted it as a balance transfer and didn’t have to pay it back for 6 months. Am I right? They don’t charge it as a cash advance right? I have some stuff i have to pay at the end of the year and was thinking about getting the 0% again

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Anyone know of a credit card accepting balance transfers w/0% interest for 12-months and no transfer fees?

NOTE: There are a lot of cards that do this…but MOST charge a balance transfer fee.

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Paying off credit cards?

I just paid down 3 of my credit cards and now the balance on 2 are 0 and the other is 0, my question is should I pay them off all the way? Will it hurt my fico if I have a zero balance? I wont close them I know that is bad to do(according to suze orman)Should I transfer those 2 0 balances to my 0%interest card and pay them off on that card that way I dont accumuliate any %finance charges on the 0 balance.
wow thanks everyone, i did forget about the balance transfer fee(3%) i will just pay them off soon and then tackle the rest of the credit cards i have, 6 more! (btw, all but 2 of these are my husbands of which i am a auth. user)I would like to pay them all off to improve the debt to income ratio so hopefully within the next 2 years we can get a house! And once i pay off the credit cards I will use the extra money im saving from not having those monthly payments to pay extra towards my car loan!

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Will increasing the amount of store credit cards increase my credit score?

So…,I if get 2 more store cards.. make a couple of small purchases and pay them off right away and not use them again.. Will this help my score or hurt it..or not effect it?

I’m trying to jump over the hump of having Fair Credit. to Good Credit.
I paid off my 4runner…never late.. always payed a bit more.. I have a couple of store cards that I am always on time with.. but ‘it seems’ since the credit collapse, it’s really hard to increase one’s score.
My end goal is land one of those 0% interest cards on balance transfer, so I can pay down the store cards and escape the ridiculous interest of my store cards.. asap. Though it seems those offers are only offered to those with a Good Credit score.
( btw, my store cards are almost maxed.. i did not know to keep them below 33%..opps too late )

I’m not sure if my time is running out for any of these offers??.. as Obama’s Credit reform measures kick in sometime early in Feb or not..( ??? )anyone know what will happen?

I’ve read that if I do manage to get a balance transfer card, to only use it for these transferred accounts and get it all paid off asap. That’s cool. that’s what I want the card for.., but if I apply for a card.. and get turned down.. well then I have a derogatory mark on my credit.. and my score goes down… hmmmm?

So any advice from those ‘in the know’ would be appreciated..

Cheers~

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Paying a college loan with a credit card?

I have recently graduated from college and am thinking about paying my college loans with a credit card. My loans will start accruing interest in October so I want to pay them off with a 0% interest credit card that I have. My main question is that if a college loan is considered a balance transfer I have to pay a fee but if it is considered a purchase it is free. Thanks for your help.