Consalidating credit cards
Use the no-interest period to pay off as much debt as you possibly can.
Cut your budget, pick up overtime at work, and look for additional ways to put more money toward your debts each month.
If you don’t have good credit, you may want to consider other ways to consolidate debt.
Next, make sure you look closely at the balance transfer card’s “go-to” interest rate — the APR that’s charged once the promotional period is over.
When deciding on a card, remember that you cannot transfer balances from one card to another card from the same issuer.
You’ll need to go with a different bank for your balance transfer card.
The Bank Americard® credit card not only offers a 0% intro APR for 15 billing cycles on purchases and balance transfers (balance transfers have to be made within the first 60 days of account opening), but its APR after the intro period is a low 13.24%-23.24% variable.So this is a good card to consider even if you don’t think you’ll be able to pay off the entire balance within the intro period.Its APR is likely lower than what you currently have.These offers can be a godsend if you’re ready for a change, but they only work if you make the debt repayment plan and follow through.With that in mind, we’ve chosen some of the best cards for consolidating your debt.
Often these rates are higher than regular credit cards.