Balance Transfers

[David H]

I've been reading about loans, credit cards and the like. In one of the sites I read, an advice in paying off your loan is to have balance transfers to a zero-percent credit card. What does this mean?

[Ted]

I've been reading about loans, credit cards and the like. In one of the sites I read, an advice in paying off your loan is to have balance transfers to a zero-percent credit card. What does this mean?

How I start? Say you currently carry a credit card from company A. In order for you to transfer to another company, company B will offer to get all of your current balances and put it on your new card which carries 0% interest.

[Sir Andrew]

I've been reading about loans, credit cards and the like. In one of the sites I read, an advice in paying off your loan is to have balance transfers to a zero-percent credit card. What does this mean?

You would do this only if you are having trouble paying your current balances. It still amazes me why people get credit cards only to have problems paying them later on.

[Emma Roberts]

When should you apply for a balance transfer?

[Stinson]

When should you apply for a balance transfer?

If you think you are already unable to pay the balances on your card or if the other company has lower interest.

[David H]

Thanks for the help everyone!