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Erik J. Martin. November 27, 2024 at 3:01 PM ... A balance transfer credit card can help you pay off your debt faster and save money on interest, but it may not be the right move for everyone ...
Starting balance. Monthly payments. Months to pay off card. Interest paid. Regular credit card. $5,000. $300. 20. $949. Balance transfer card with fee applied. $5,150
In this example, you would pay a total of $5,946 over 20 months in order to pay off the card at its regular rate. On the other hand, transferring your debt to the balance transfer card allows you ...
MoneySavingExpert.com is a British consumer finance information and discussion website, founded by financial journalist Martin Lewis in February 2003. The website's focus is to provide people with information on saving money in the form of deals, tips and journalistic articles, as well as techniques and strategies for exploiting loyalty schemes and incentive-based credit cards.
Martin Steven Lewis CBE (born 9 May 1972) is an English financial journalist and broadcaster. Lewis founded the website MoneySavingExpert.com. He sold the website in 2012 to the Moneysupermarket.com group for up to £87 million. Lewis is currently a presenter for ITV, on the morning shows Good Morning Britain and This Morning since 2007.
A balance transfer credit card is one that provides a 0 percent introductory APR on balance transfers, allowing you to move your existing credit card debt from a high-interest card to the balance ...
MoneySavingExpert.com, established by financial journalist Martin Lewis in 2003 to provide financial information to consumers, was bought by Moneysupermarket in 2012. [29] The subsidiary also operates a Cheap Energy Club which monitors users' energy tariffs to help them find the cheapest available.
Then, consider it if your credit score is north of 700, and your overall credit card debt is less than $5,000, as balance transfer cards generally have a limit of $5,000-$6,000 or less, he said.