But only if it is a good deal. How to use a balance transfer. So, I recently learned about balance transfers when I received an offer from my Aviator Red Barclay card. The terms were, 0% APR (annual percentage rate) for 14 months, with a 1% one-time transfer fee or $5 whichever is greater. Normally, I see these deals and throw them out because they are rip offs, usually with a 5% transfer fee and 22% APR. But I noticed that occasionally, a good offer comes through and I should start paying attention. I started calling all my credit card companies to see what this balance transfer is all about. …
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How Credit Cards Can Backfire On You
Ok, in many of these articles there are explanations on how to manipulate your credit score and interest rates to save and make you money. Here is the very slippery downside to this…its called human error. Also known as lust, gluttony, greed, sloth, wrath, envy, and most of all pride. Most credit card debt is accrued from individuals living higher on the hog than they really are. There are different motiviations for this, some listed in the previsous sentence. Credit cards give people access to living high on the hog without neccesarily havin ghte means to do so. Basically what I am saying is, with great credit comes great responsibility.…
