Balance Transfers
Date: Sun, 06/04/2006 - 14:46
I am considering a balance transfer but i don't know the best way to go about it. My thought was to swap the balances but i assume that this won't be allowed. One card is offering 2.99% for the life of the transfer balance and the other is offering %0 thru April 2007 and then %8.99 there after.
The last thing to consider is that I am considering buying a house very soon and don't want to get dinged by my creditor running a credit report - first, do they check credit before a balance transfer? second, what is my best bet for transfers. Any help would be appreciated!!
most cards want to you transfer balances,, will you be able to p
most cards want to you transfer balances,, will you be able to pay of the total balance by April 2007? If yes, then put both balances on the 0% interest cards. If not, then go for the 2.99% if it truly for the life of the transfer (until the transfered balances are paid off) then just don't use that card for anything else, and make sure you are never late, because that interest rate will certainly go up if you are.
Instead of doing a balance transfer, try to pay it on your own.
Instead of doing a balance transfer, try to pay it on your own. As you are looking forward to purchase a house, you must give your credit a clean look. While doing a balance transfer, a majority of people default on their payments. Moreover, you will be paying interests on two different occasions instead of paying it only for once. Don't opt for it unless you can manage your finances fairly well.
Look out for some other options if you can't pay on your own. A debt management program might sound helpful than doing a balance transfer with a credit company. The overall expenses will be comparatively lower.
Yes, creditors check your file before lending new credit. While you are on the process of repairing your credit, do not incur new debt. You will realize that the problems will come under control after applying good financial management. Save money as much as possible so that you can use it during emergencies.
Read this page to get the perfect debt solution for you.
I suggested rolling overto a low intereste card in order take ad
I suggested rolling overto a low intereste card in order take advantage of the lower interest rate. Why continue to pay 16-18% interest when you could pay 0-3% and have more of your payment apply towards the principle?