If You Need a Balance Transfer, Watch This First
Вставка
- Опубліковано 1 лип 2024
- In this video, I wanted to go over everything you should know about getting balance transfer, whether it is a good idea for you, and then how to actually complete the process.
And hopefully this video can answer some of the questions you might have
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www.luggageguru.com/if-you-ne...
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TIMESTAMPS
00:00 Intro
0:46 What is a balance transfer?
3:16 When should you get a balance transfer?
4:07 When you should NOT get a balance transfer
5:33 How to Transfer Your Credit Card Balance
7:29 Final thoughts
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►First Tech Federal Credit Union:
www.firsttechfed.com/borrow/c...
►The 3 Best Balance Transfer Credit Cards:
• The 3 Best Balance Tra...
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Nasa federal credit union doesn't have a balance transfer fee either, has preapproval option too
One more question. If you have a credit card with a balance on it and you accept a balance transfer of 0% from that card.
Is it true that they will take your payments off of the 0% that you transferred and you will continue to pay the full interest amount on any balances you had on the card to start with until you pay off the transfer amount.
Other words will they hold on to that balance that they can charge you interest on
and you will continue to pay interest until you pay off the full 0% transfer amount.
Looking for answers to a question I can't seem to find on UA-cam. What about balance transfers between cards you already have. I am thinking of charging a larger amount to a credit card that I have nothing on at the time because the rate is one of my higher cards and then doing a balance transfer to another one of my credit cards offering 0% interest with just a 3% initial transfer charge. Is this smart or dumb.
If you end up paying less in interest charges over time it makes sense, but make sure you go over the numbers to make sure it's actually worth it.
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Hi, I have a question, I got a promotional rate of 0% for year balance transfer.
So when it comes to paying back do I have to pay minimum balance every month and settle the rest of the amount within the promotional period?
Same question if i owed 6000 and have 18 mons to pay it all off thats 333 every month to pay it all off but the question is there a minimum payment every month of 333 or 200? Or i can just pay a big lump sum of like 666 every 2 months ?
I have $13k of debt and was accepted for a credit line of $7000 for the discover it. Should I max out that $7000 with the 0% interest for 18 months?
Assuming the interest rate is a lot lower it could be beneficial to do so.
However, I would always advise talking to an accountant to get the best professional advice regarding your money.
@@dannyshep what I ended up doing between my spouse and I, is getting three 0% interest for 15-18 months balance transfer cards. We are currently spending around $200/mo on interest alone with $13k debt on our Amex.
Isnt it never good to use your max credit limit is it different for balance transfer cards cause they have a 0% fee