As the year draws to a close, many people take a long, hard look at their finances, looking for ways to save money on anything and everything. Personally, I like to take a look at my credit card balances because that’s one of the best places to find savings. If you can cut out just a fraction of the monthly interest on any one credit card, you can save money, but what if you could cut out all of the interest on all of your credit cards? How much would those savings amount to?
If you’ve got good credit, cutting out all of the interest on one or more of your credit cards is actually fairly easy if you transfer the balances to a new credit card with a balance transfer incentive. Right now, many credit card companies are offering up to 18 months interest free with balance transfers, and that gives you the opportunity to lower your monthly payments AND pay off the balance if you plan your monthly payments to coincide with the expiration of the interest free period.
Does a balance transfer card make sense for you? Truthfully, a balance transfer card makes sense for most people. After all, who wouldn’t want to save money on credit card interest over the course of the next year or so?
Not sure how much you could save? Check out these balance transfer options: