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never use that card for anything else ,if you do your doomed. interest is charged on your new purchases that you think your paying off in 30 days because any payments only go for the amount you transfered.
its a trap. once you charge anything else the only way to stop the interest on everything but the balance transfer is pay off the entire card.
This is also very useful advice. In the fine print, it usually says that any payments will be applied to the lowest interest rate charges first.
This is also very useful advice. In the fine print, it usually says that any payments will be applied to the lowest interest rate charges first.
yknow it sounds like "what it all boils down to" is simply one company stealing away another's company's customer without anything stellar given to the consumer
never use that card for anything else ,if you do your doomed. interest is charged on your new purchases that you think your paying off in 30 days because any payments only go for the amount you transfered.
its a trap. once you charge anything else the only way to stop the interest on everything but the balance transfer is pay off the entire card.
jonathan - any credit card will be this way. That is really, really sound advice.
Balance transfers are a tricky thing. First you have to make sure the fees they will charge for the transfer are worth it - look into what the interest rate will be once the initial "0%" period is over with (if it goes up a lot, it might not be worth it if you don't have the balance paid off in full), and as mentioned, never, never charge anything else on it once you make that transfer.
Also, try calling... I had a small amount of credit card debt that I wanted to transfer to an old Citibank card I have that was offering a 0% 12 month APR, but it had a 3% fee. I called and got them to only charge me 1% and they upped my 0% for an additional 6 months!
Also, try calling... I had a small amount of credit card debt that I wanted to transfer to an old Citibank card I have that was offering a 0% 12 month APR, but it had a 3% fee. I called and got them to only charge me 1% and they upped my 0% for an additional 6 months!
impressive. you likely have a good fico score. ...i will call tomorrow.
never use that card for anything else ,if you do your doomed. interest is charged on your new purchases that you think your paying off in 30 days because any payments only go for the amount you transfered.
its a trap. once you charge anything else the only way to stop the interest on everything but the balance transfer is pay off the entire card.
Actually that's not the case anymore. There are new laws on the books. Payments are applied to interest first, then the highest-interest balance, then the next-highest interest balance, and so on. But I wouldn't recommend taking too much advantage of that!!!
I'm not disagreeing with your advice, which is good, but technically freecreditreport.com is not a scam. It is a for profit business. You CAN get a report for free there, you just have to sign up for a service to get it, which you can then cancel afterwards. They count on people either not reading what they are signing up for, or forgetting to cancel. But technically, it is a legitimate business.
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without anything stellar given to the consumer
