Money Management : Credit Card Balance Transfers With Poor Credit
When you have poor credit and you do transfer your balance to the last known credit card that you had with good credit, such process is called consolidation.
What’s it all about? Watch this video and be enlightened.
Categories: Loan Videos Tags: balance, Card., Credit, last, Management, money, poor, poor credit, transfer, transfers
Will the credit cards that charge no interest for transfers pay off installment notes too?
Question by mydoghatesme: Will the credit cards that charge no interest for transfers pay off installment notes too?
I have an installment loan that I pay. The payment is$ 239/mo. Is there a credit card or another loan I can get with no interest or low interest if I have great credit? My current rate is 10%.
Best answer:
Answer by bdancer222
If you find a credit card offering 0$ or low interest with no transfer fee, you could use it to pay off an installment loan. However, such credit card offers are pretty much non-existent now. If you have stellar credit, you may get an offer for a low interest rate for a limited period (a year or less), but there will probably be a transfer fee of about 3%.
You also have to be very careful with those special offers. Any little slip up will result in a rate increase.
What do you think? Answer below!
Categories: Loan Questions Tags: Cards, charge, Credit, Installment, interest, notes, transfers