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sara
Joined: 13 Sep 2009
sara's page
Posts: 31
509 Magic Points
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Subject: CREDIT CARD BALANCE.
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Tue Oct 06, 2009 5:47 pm
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[System detected duplicate content and converted into image.] |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4500
8812 Magic Points
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Tue Oct 06, 2009 6:18 pm
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| Sara, I would suggest that it would be a good thing. It would save you alot of money over time. Now avoid closing out the other card if it has a long credit history. When you close older lines of credit your credit score could take a beating. I also would like to see others suggestions on this because this was something I was planning to do since one of my credit card companies recently raised the rates. |
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1298
28935 Magic Points
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Wed Oct 07, 2009 9:59 am
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Hi Sara,
You can do it, provided you know about all the terms and conditions attached to the new credit card. Find out whether or not the interest rate for the new card is introductory only. Sometimes the interest rates rise after a period of time. You should also inquire if there are late fees or annual fees attached to it. Research properly before doing it.
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All the Best 
Justin |
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carol
Joined: 27 Jun 2006
carol's page
Posts: 1362
Location: Los Angeles, California
29592 Magic Points
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Wed Oct 07, 2009 10:31 am
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Yes Sara
Check if these are only introductory offers because most companies usually increase their rates once the introductory period is over. If the rate is fixed then it is a good idea, but I would suggest consider the factors properly. Read through their offer properly to find any hidden costs. Ask them if you don't understand something. Don't be doubtful before signing any agreement with them.
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Keep in touch
Carol |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4500
8812 Magic Points
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Wed Oct 07, 2009 4:39 pm
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| I am personally glad to hear this. Recently with the downturn of the economy my hubby lost a lot of work and I have had almost none. We had made a credit card purchase that was a higher amount and can not have it paid off in time as we had hoped. I was looking to transfer the remaining amount that we do not get paid off come december. I was hoping this would not effect our score. I do see having to be careful with the rates and intro. offers. Does anyone have any idea where a person could go online to check out the different rates and what they offer? I would just like to tide this over until income tax and pay off the remaining so the intro would really only have to be six months. |
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