Credit Card Offers- Should you Transfer your Balance

It doesn’t seem to matter how good or bad your credit is, credit card offers come to you and will keep coming in the mail on an ongoing basis. This is especially true of credit cards that are chiefly designed to help people transfer their balances from one credit card to another. These credit card offers give low or 0% intro APR interest rates, and can be a good thing for you, if you are interested in transferring your balance.

When you get these credit card offers, you have to ask yourself whether you intend to follow up on any of them. Don’t forget, you can get a credit card offer, and therefore a credit card, no matter what your credit is like. Don’t forget to ask not only whether you want a newer or better credit card, but whether it would benefit your personal finances if you were to transfer your balance from one of your older cards to the new one in the credit card offer.
If you get credit card offers and you do want a new credit card, either to replace an old one or toe transfer your balance, here are some steps to take:
  • Don’t take the first one that comes your way. You’re likely to get credit card offers through the mail and in your email box, so look carefully through all of them. Figure out how much lower your payments will be if you transfer an old balance to a new card, and accept the credit card offer based on what benefits you the most.
  • Get off the list. Once you get your new credit card, or you have transferred your balance to the lower interest card, you don’t need any new credit card offers. Don’t hesitate to stop them coming.
If you get credit card offers and you do not want a new credit card, here are some steps to take:
  • Double check your figures. Are you sure you don’t want to transfer the balances of old credit cards to a new credit card? In most cases, this is an extremely beneficial thing to do. These credit card offers are tailor-made for people who want to manage their credit card debt more intelligently, paying out less in interest payments than before. Do the math so you are sure you’re making the best decision for your finances.
  • Get off the list. For email spam credit card offers, it’s easy to unsubscribe from the offer simply by clicking the unsubscribe link at the bottom of the email. For mail credit card offers, there is a website called the Opt-Out Prescreen website, where you can register as someone not wanting credit card offers for five years at a time. 
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