Comments on: Using Balance Transfers For Credit Card Debt

By: FrugalBabe

FrugalBabe — Tue, 05 Aug 2008 18:29:33 +0000

Wow, Mrs. A – that looks like a great deal! A current offer for no transfer fee and zero percent interest, for more than 12 months. I remember seeing offers like this a few years ago, but this one is current. If you need to do a balance transfer, I’d check into this one. Thanks for the heads up!

By: Mrs. Accountability

Mrs. Accountability — Tue, 05 Aug 2008 18:19:12 +0000

I got a “prescreened offer” in the mail a couple of weeks ago. Try going to http://www.sendmethecard.com or call toll-free 1-800-694-9261. 0% until 11/1/09, $0 transfer fee, 6.99% fixed after the introductory period. Expires 9/12/08.

By: mc

mc — Wed, 30 Jul 2008 14:40:39 +0000

I opened a card just to do a balance transfer a few years ago. I found the best deal through citi card, I think it was a platinum select. It was no fee (no annual fee, no transfer fee), 0% interest for 12 months

I made sure to pay off the whole transfer/balance in the 12 month period, and that is how I got our of debt faster and cheaper.

I only recommend this to people who are really organized and diligent about payments, otherwise you could end up worse off if you forget a payment, etc. For me, it was a great way to get on track. Also, my credit limit has gone way up and my APR has gone way down. Aside from a tiny purchase every now and then to stay active, I don’t use the card at all, but I think it helps my credit rating.

By: Rachel

Rachel — Tue, 29 Jul 2008 20:22:12 +0000

I have two AmEx cards, and I love them. AmEx’s customer service people have always been incredibly helpful and friendly to me. That said, I frequently get offers from them for transfers at 1.99% for a year. With those offers the fee is 3% (min. $5, max. $99). When the transfer is not on a special offer, it’s on the normal spending rate (which is tied to prime, so it varies), but their is no fee. Hope that’s useful.