With 2017 coming to an end, now’s the right time to turn your attention to the new year.
Once 2018 arrives, you’ll be faced with many questions in regards to your finances. For example, you may need to figure things out in regards to your credit card debt (such as how to pay it down as quickly as possible).
If you’ve avoided a balance transfer in the past – regardless of the reason – you won’t want to go down the same path in the future. This isn’t the right decision for everyone, but it’s something you should at least consider. Here’s why:
- You can bring all your credit card debt under one roof. Not only can this save you money on interest, but it can also help organize your debt. Forget about paying multiple credit card bills every month. Once you make a transfer, you’re left with one balance and one payment.
- A lower interest rate. Are you currently bogged down by credit cards with a high interest rate? Are you ready to do something about this? A balance transfer credit card will provide a period of zero interest, often up to 18 months. During this time, you can focus all your effort on paying down (or hopefully paying off) your debt.
- You can search for an offer with better terms. Let’s face it: the terms and conditions of your current credit card(s) may leave a lot to be desired. Search for a balance transfer credit card with a lower interest rate, fewer fees, and better customer service.
These may not be the only reasons to consider a balance transfer in 2018, but there’s a good chance that one or more will pique your interest.
Credit card debt may have posed a problem for you this year, but you don’t have to carry it over into 2018. It’s time for a change!
Do you have any experience with a balance transfer credit card? Were you able to take full advantage of the benefits? Did it help you pay down your credit card debt in a timely manner?