Tips for More Effective Credit Card Balance Transfers

Conduct a thorough internet research on the various cards available and make sure you comparison shop before settling on one card.

Always remember the expiration date of the “teaser” rate so you can apply for a new credit card balance transfer before it expires.

Choose a flexible and interest free credit card balance transfer.

Close your accounts and cut-up you old credit cards as soon as you have confirmed the transfer over the phone and received your billing statement with a zero balance.

If your new credit card does not allow you to transfer all the amounts from your old cards, then transfer the amounts from the cards with the highest interest rates.

Take advantage of the lower monthly payments to reduce your debt even further. Use the difference between your old payments and your new lower payments to pay down your debt.

Create a simple budget (if you don’t already have one) and try to find expenses that could possibly be reduced.  By spending less money you will pay-off your debt faster.

Read the terms and conditions and the fine print very carefully and make sure you understand and are comfortable with everything.

Ask a lot of questions and make sure you clarify everything that is vague or unclear.