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Do balance transfers affect credit ratings?
Posted on September 1st, 2010 No commentsBalance transfers can be an effective way of lowering credit card debts, through lowering the interest charged on the balances. However, some people are concerned that their credit rating will be aversely affected by the balance transfer. This does not need to be the case.
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Balance transfers to consolidate debt
Posted on August 2nd, 2010 No commentsConsolidating debt can be seen as part of the solution for many people who have debt problems. One part of this solution is to consolidate debt. Credit card balance transfers can play a big part of this strategy.
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Balance transfers as part of a strategy to pay off credit cards
Posted on July 13th, 2010 No commentsPaying off a high credit card debt is something that most people who have one often want to do. Balance transfers can play a large part in this.
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Can I transfer a balance on to an existing credit card?
Posted on June 15th, 2010 No commentsAlthough balance transfers are often thought of being for new cards only, it is also possible to transfer a balance to an existing credit card that is already held by the credit card holder. This can be a powerful technique when looking to pay off credit card debts quickly, or simply to lower the overall interest that is being paid on a credit card.
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The Best Time of Year to Take up A Balance Transfer Offer
Posted on June 4th, 2010 No commentsIf you think about it, taking up a 0% balance transfer offer is like getting a bonus in your paypacket, staggered monthly over 6 months, and dependent on the size of your credit card debt. Given that many balance transfer credit cards revert to the cash advance rate (over 20%) after the initial honeymoon period, you should time your take-up of a balance transfer offer very carefully to get the maximum benefit. You’ll want to make sure you can pay off as much as possible within that initial period, and that you’ll have no extra bills coming up in those 6 months. Today we check out some of the best times of year for different people to switch to a 0% balance transfer credit card. Read the rest of this entry »
Balance transfers can be an effective way of lowering credit card debts, through lowering the interest charged on the balances. However, some people are concerned that their credit rating will be aversely affected by the balance transfer. This does not need to be the case.