Subject: Advice on transferring balances on credit cards
Sun Oct 18, 2009 6:49 am
I have two credit cards. I charge stuff on one credit card to get the rewards. Every other month or so I get "convenience checks" from my other card for a transfer rate of 2.9%. If I transfer from the "rewards" card to the 2.9% card using the checks, does that hurt my credit score?
I think a lot of people actually do this. Good antured is right a s long as you do not close the card you shoudl be fine. Any card that has a good credit history (esp. the older they are) will be best left open/ We found a good rate on a discover card and are getting ready to transfer our Sears over to it. Since the Sears card has been opened for so long we will not lose it but will not charge on ti until the other is paid off.
Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.