Credit Card Balance Transfer – Do not Charge more than needed

When playing the credit transfer game there is one important thing to keep in mind, no matter what never, ever charge anything or spend any money on a card you have transferred a balance.
The reason for this is somewhat complex the easiest ways to explain this is many times the cards with the best credit transfer rates have different interest rates for different transactions. Therefore, it could be 0% interest for transfers however charging and cash withdrawals will more often then not are much higher rates. Another thing is when you make your payments you cannot choose which portion of your payment will go towards what portion of your debt. Guaranteed they will apply your payment to the lower interest portion of your account.
This results in the debts you acquire from new purchases ultimately will be trapped, building interest until you have paid the cheaper transferred amount. This is how lenders make most their money. They have attractive balance transfer rates and reel you in with the higher interest rates hoping you will charge other expenses on in it.

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