Reducing Your Credit Card Bill Really can be This Easy.

All it takes is a little balance transfer...

A balance transfer is a way to move an existing balance from one credit card, usually a high interest one, to another that features a lower interest rate. This not only saves cuts down on your monthly payments but can equal big savings in the long run, by reducing the amount that this debt costs you.  And the best part? It's not even that difficult!

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How to Complete a Balance Transfer:

  1. Find a New Card-   Research no- and low-interest credit cards that have low or no balance transfer fees. Make sure you understand the interest rate and transfer fees of the new card
  2. Transfer These First-  Locate your highest-interest credit card. Transfer these first; the higher the interest rate the more it costs you. Then decide how much you want to transfer.
  3. Assemble Your Paperwork-  You will need credit card statements for all accounts you are transferring, as well as credit card numbers and mailing addresses for balances you're transferring.
  4. Transfer That Balance- To start the final step, contact the financial institution you're transferring to, to make the balance transfer. The exact procedure will vary, but if you have your paperwork together you should have anything you need!
  5. Don't use Credit Card Checks-  Do not use the checks supplied by a credit card to make a transfer. This will be processed as a cash advance and will incur a high interest rate.
  6. Make Payments on Time-  Make timely payments to your new, lower rate card and enjoy your savings! If you did not transfer the entire balance from your existing card, don't forget to finish paying it off!