Credit card debt can be crippling, but there are credit cards that allow you to transfer your balance at 0% interest and help you get out of debt faster. And having almost 2 years to pay off your credit debt with no interest can be huge in helping you improve your financial situation.
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12 comments
My dude!!
No mention of Bank Americard? (18 Mos 0% no fee)
Sounds like you already knew about Amex Everyday & Chase Slate (both 15 Mos 0% no fee), but were aiming for 18 month+ 0% periods.
I've only used balance transfer to delay repayment on startup costs for business. But have never paid a BT fee!
Your videos have been great lately. The problem is that most people that need a balance transfer, have a large balance. I've ran into people that have $10,000+ in debt but can't transfer because they cant get a credit line that large. Good video man!
Wells Fargo will also open various other credit lines without your consent for their own profit…
I got the Amex blue Business plus card so I could pay my taxes and get two points per dollar and not have to pay it in full for 15 months
Amex everyday is also a great option although its 15 months it has a $0 transfer fee in the 1st 60 days. plus the rewards are pretty good as well as a sign up bonus.
Loved this video, family! I posted a similar video so I definitely am invested into this topic! Thanks for educating the people!
Notification Squad!
Now, back to the video!
We regularly use balance transfer offers. I think continually doing balance transfers raises your credit rating, and by maintaining a debt balance, keeps your spending down. When you owe zero on your cards, you are more likely to spend.
Our credit rating for each of us, is usually right at that 850 number,
Nice to get 0% interest for 6 years on an auto loan, with zero down.
However, as the fee has edged up from the 2% BT offers, we are going a slightly different direction.
We took a new card which has 0% on purchases for 15 months Some are for 21 months.
To me, that gave you the benefits of 0% balance transfers, without any fee.
The key to an 850 FICO score is to maintain a constant line of debt, not to be debt free.
We got a Bank of America card a week ago. That’s the one we will use for 0% on purchases, rather than use the BT offer.
If we did 0% on purchases and used the BT, things may get out of control quickly.
BT fees are just interest in disguise. I know you left off the Slate card and Amex because of the 15 months, but I’d rather get 15 months without a fee, then move the balance again without a fee if I couldn’t clear the whole debt. Everybody is different though
Hello, sorry that I am off topic, Can you recommend me a start up business checking account that not require a lot of cash to sign in please
Isn't there an American Express card that has good terms? Scrolling down through the comments I see it. I've used the Capital One Platinum Preferred to balance transfer before a while ago. I believe it was 0% for 21 months with 3% fee. Looking forward to a visit to Kansas City in the future! Take care and happy travels Dustin!
My cat clicked on this video. She says she learned a lot.