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Credit Card Balance Transfer Tips

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A person on an iPad typing in credit card information.

If you’re looking for ways to save money, transferring a high rate credit card balance to a lower rate card could make a big difference. Many lenders send promotional balance transfer offers, but it pays to be alert.

Tips for evaluating a balance transfer offer:

  • Make sure the balance transfer rate for the new card is much lower than your current rate.
  • Determine the length of the special rate offer and whether or not you can make a significant difference in paying down the balance during that time.
  • Be sure the card also offers a good rate for new purchases and that there are no annual fees.
  • Don’t run up additional balances on old cards once you have transferred those balances. You may want to consider closing some of them.

At VACU, you can choose from three great credit cards - each with competitive rates, awesome features, and no annual fees.

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