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Credit Card Balance Transfers Can Save You Money

Friday, February 22, 2013 - 8:23 AM
Card Hub, a credit card comparison site, has conducted a balance transfer study compares the balance transfer policies of each major credit card issuer and identifies the best balance credit cards on the market. The study found that six of the 11 issuers surveyed –  Barclaycard US, Capital One, Pentagon Federal Credit Union, USAA, U.S. Bank, and Wells Fargo – allow you to transfer most common types of consumer debt, including mortgages, auto loans, small business loans, and student loans.

Credit card balance transfers can save you money

 

 
5
ShorebreakShorebreak2,622 posts since
Apr 6, 2010
Rep Points: 14,212
1. Friday, May 17, 2013 - 5:45 AM
Yes it would. It works when people get a new line of credit which offers a 12 month introductory interest rate. Even if there is a balance transfer free, the interest rate and the transfer fee would still be significantly lower than the APR of a current credit card which helps people save on interest rates. If you are thinking of transferring your balances, check your credit reports and review your credit cards’ terms first so you can transfer the balance on credit cards which have the lowest APRs.
1
joymalijoymali16 posts since
Apr 6, 2013
Rep Points: 23
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