Credit Card Transfer Fees
Date: Thu, 10/20/2005 - 09:17
Just wanted to share with the forum about an experience. If anyone is in credit card debt it is very tempting to transfer balances from one credit card to another to basically wave the payment for that month. BAD IDEA. Although it may be a quick solution to a sticky situation, the fees add up really quickly.
I also heard, and if anyone could back me up that would be great, that it is really bad for your credit score if balances are transferred back and for all the time. Anyway, those fees added to my debt along with cash advance fees and apr's.
I also heard, and if anyone could back me up that would be great, that it is really bad for your credit score if balances are transferred back and for all the time. Anyway, those fees added to my debt along with cash advance fees and apr's.
Unfortunately, we realize it after going through it practically.
Unfortunately, we realize it after going through it practically. Balance transfers are shown beneficial by the bankers but if you, as a consumer are not able to manage it, then it is the profit of the banks for the services given to you.
It's our responsibility to pay the bills rather than taking help from outside sources. They want to be paid for the services provided to you. Here comes our lesson to learn better financial management.
Credit Card bills are just craziness...I wish I never got one at
Credit Card bills are just craziness...I wish I never got one at the age of 18 when I was young and foolish. Some people just have to learn the hard way. But its good in a way because now we can advise others not to make the mistakes we did.