Good or bad credit personal loan and credit card. - http://creditfederal.com/article
Balance Transfer Debt
http://creditfederal.com/article/articles/71/1/Balance-Transfer-Debt
By CreditFederal.com - A good or bad credit personal loan, auto and mortgage financing, and credit card resource.
Published on 11/6/2005
 

Before you balance transfer credit card debt, read this important article. It may be better to consider alternatives!


Balance Transfer

Before you balance transfer credit card debt:
It may not be wise to balance transfer credit card debt to another credit card.

Here are reasons why:

1) If the balance transfer is from a credit card which you had ever made late payments on, the new card issuer may void your introductory rate because of your past credit history.

2) If you were late paying any bills (not just on credit cards), the issuer may void the introductory rate because of your past credit history problems.

3) If the balance transfer plus new charges exceed the card issuer's maximum, in addition to voiding the introductory rate there may also be penalties or fees.

If you were late paying any bills (not just on credit cards) in the past year, it may be wiser to get help with your debt instead of trying to shuffle it to another card.