Balance Transfers

Unless you have an iron will it is best not to play the balance transfer game. Balance transfers can save you money but they are only for the folks that can keep good records and are very committed to reducing their credit card debt.

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I am sure that three or four times a week you get a pre approved credit card application in the mail.

Balance transfers are always a tempting offers and promises that you will save buckets of money. Credit card companies depend on the fact that you will not merely transfer a balance and pay it off but will charge something on their credit card. After all, tires go flat and micro waves quit. There is always an emergency coming along.

From now on it will hold you in good stead if you think of an emergency as something that involves blood. Unless some one is bleeding there is no emergency and no reason to use a credit card.

But, if you do have an iron will and are willing to plunge into a little de consolodation then a balance transfer will work for you.

Remember. It does you NO good if you just pay the minimum payment.

You only have a certain amout of time before the balance transfer introductory rate ends.

Always take the offer that will give you the most time, even if their interest rate is slightly higher. Before you sign up for the balance transfer crunch your numbers hard. Make sure that you will be able to pay it off in the time alotted and make sure that you will be able to service your other credit card debt with higher than minimum payments.

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