I have balances on several cards, I want to get rid of debt and build my credit. What do I do?
Answered on Wednesday, November 1st, 2017 by
Amy Miller

The best solution in such a case is to consolidate your debt on one card and to pay it off gradually but in one piece. You may use balance transfer cards for that. It works like that: you transfer your balance on to this card and then pay it off. Such cards often have low intro rate offers or even 0% intro APR offer that will help you pay off most or all of your debt without paying any interest. Note that you need always pay on time or you may lose your 0% intro APR offer. Before you transfer your balance, check that the issuer of your new card is not the issuer of your current cards – mostly it’s not possible to transfer balances within one bank.

Other Popular Balance Transfer Card FAQs

April 19th, 2018
What is a balance transfer?

A balance transfer is moving of your debt from one credit card (or cards) to a different card with a lower interest rate (usually 0% intro APR). When you are struggling to pay off your debts, the balance transfer can be of great help. The most popular type of balance transfers is a credit card […]

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Paying fees won’t make anyone happy. Cards usually charge a fee of 3% for balance transfers, and if your overall balance is hefty, that might be quite considerable. However, if you do the math, you’ll see what you are paying for. If the card of your choice has a 0% intro APR, you will save […]

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