Moving Debt Between Cards Can Save You Money

If you're like most people, you have plenty of credit cards, and you have stacks of offers for more. The credit card industry is so competitive that, whatever card you have, the chances are that somewhere out there is one that would be cheaper or better for you - and you can change as often as you want!

Take Up Teaser Offers.

To try and get customers, credit cards are still offering massive discount rates when you transfer balances over to them. These 'teaser' rates will only last for a set period (check the terms and conditions), but they can still save you a lot of money - especially if you switch to another card's teaser rate each time one ends.

Yes, this does mean applying for a new card relatively often - but if you do it online, you'll find it's quite painless. Is it really worth hundreds of dollars to save the trouble of applying for a new card?

Extend Your Offers.

You might not even need to move to another card to get a teaser offer for longer. If you phone and ask, many lenders will extend the preferential rate for longer, in an effort to get you to stick around.

Check the Small Print.

You might find that the 'low, low rate' only lasts a few months, and you might also find that it only applies to balance transfers, not new purchases. A common trap is for a card to allow you to transfer your balance of thousands at 0% APR, only to charge you 20% or more on anything new you buy with it. Of course, as soon as you ditch that card and move to the next, the new purchases become a balance transfer again.

A more nasty thing you might find is that you're signing up to a minimum term to get the teaser offer - they won't let you transfer your balance away again for a year, or even more. Avoid these cards like the plague.

Keep Track of Time.

Your card issuer isn't going to go out of their way to alert you when your teaser rate is over. Make sure you keep track: make a mark on the calendar. Months can go by far more quickly than you'd think, and missing the end of the teaser period by even a day will mean that you'll end up paying interest at the normal rate.

Moving Around and Your Credit Rating.

Moving debt around between cards often affects your credit rating in an odd way. On the one hand, it shows that you could be an unprofitable customer - after all, you change cards before they can make a profit from you. On the other hand, it also shows that you're likely to take up offers that you're sent, and companies tend to believe that they have a great strategy to keep you with them where others have failed.

In other words, some companies will hate you for it, and some will love you. Bear in mind, though, that the longer you do it for, the fewer companies will want to send you their very best teaser rates.

Cassandra Stinchcombe - Don't let credit cards control you. Take control of your finances. Understanding credit card debit information is the first step. For more articles on this topic visit http://www.envisionopportunit y.com/creditcards/creditcards.html

---

The Burden of Debt

Over recent years personal debt in the UK has exploded.... Read More

Get Out of Debt

It is said that a pet tiger cub can become... Read More

Debt and New Spirituality

Overcoming the stigma of being in dept, grow in self-confidence... Read More

Debt Consolidation Confusion

Learning about debt consolidation can be quite a confusing venture... Read More

Debt Management - How a Debt Consolidator Can Reduce Your Debt

A Debt consolidation program starts with evaluating your financial situation.... Read More

Debt Management - Debt Management Fees

Debt management fees can vary vastly from one company to... Read More

Debt Consolidation Benefits

If you've ever been in a situation where you needed... Read More

Shake off the Chains: Credit Card Debt Elimination is Easier Than You Think!

Feeling like you're on the brink of financial disaster? You're... Read More

Pay Off Debt Now: 5 Steps To Getting Your Finances in Order

In our world of dizzying change, nothing is more true... Read More

No-Cost Student Loan Consolidation

No-Cost Student Loan ConsolidationA no-cost student loan consolidation ? doesn't... Read More

Debt Consolidation when You Find Yourself Overwhelmed with Bills, Bills, and More Bills

Many of us find ourselves overwhelmed with bills, bills, bills.... Read More

How To Get Rid Of Debt Problems Step 3 -- How To Negotiate Reduced Payments With Creditors

First, make a list of your creditors (NOTE: you should... Read More

Use Caution When Entering Into Debt-Consolidation Loan

To the person drowning in debt, a debt-consolidation loan looks... Read More

Debt Consolidation ? Be Careful When Trading in Your Car

The automobile has long been recognized as the classic American... Read More

Benefits of a Debt Consolidation Loan

There are many benefits in choosing a Debt Consolidation Loan,... Read More

Debt Consolidation Makes Sense Only with Low Interest Rates

Credit that cannot be managed or is not being repaid... Read More

What You Need to Know About Debt Consolidation Loans UK

Should you find yourself over your head in debt, you... Read More

The Pros and Cons of Debt Consolidation Loans

You are swimming in debt. You have 4 credit cards... Read More

Debt consolidation ? Options for Reducing Credit Card Costs

Americans are using credit cards more than at any time... Read More

Open the Cash Vault Inside Your Home

Believe it or not, many people do not understand equity... Read More

Credit Cards Debt Consolidation

Consolidating credit card debt is never easy. Too often people... Read More

Avoid Bankruptcy

The first but definitely not the easiest thought that comes... Read More

Debt Consolidation Company and Companies

Debt consolidation companies have dotted the debt solution landscape as... Read More

Credit Counseling ? Congress Offers No Details in New Law

The recently passed Bankruptcy Abuse and Consumer Protection Act was... Read More

Debt Consolidation

Sometimes life can get on top of you and out... Read More

Re-Mortgages ? There?s Help For Bad Credit Ratings On The Way

As any report on the subject will reveal, million of... Read More

Debt Consolidation Loans: Thousands Now Out Of Debt, Who Never Thought They Would Be!

A Debt consolidation loan: Is a personal loan you use... Read More

10 Pointers on College Loan Consolidation

Should I consolidate my college loans or not?1. Still in... Read More

Private Student Loans ? Dispelling The Myths

Private Student Loans ? dispelling the mythsIf savings, grants, scholarships,... Read More

Finding a Reputable Debt Consolidation Company

If you are looking for a company that will help... Read More

Overwhelmed By Student Loan Debt? Consider a Consolidate Student Loan

A consolidate student loan is the perfect solution for people... Read More

What is a Debt Consolidation Loan?

If your objective is to reduce interest rates and lower... Read More

Does Working With a Credit Counseling Organization Hurt Your Credit Score?

Credit counseling organizations do not lower your credit score when... Read More