Transferring a credit card – when do you pay?

Posted: August 18th, 2013 | Author: | Money

Some banks offer to transfer your current credit card in exchange for a variety of discounts and promotional benefits. In general, in the form of reduced interest rates.

Robert Scoble / photo on flickr

Robert Scoble / photo on flickr

Credit card is for some important financial product that has become an integral part of the household budget. Sometimes it also happens that we are not able to pay in the interest-free repayment period. Interest ahead of us small even exceed 20%, and this is a large, very large value. If the conditions under which we have our credit card are unfavorable, you might want to consider moving it somewhereelse. However, keep in mind one little “but”. The Point Is That when you move lower interest rate will not last more. You Should very carefully check and find out how long it takes and Whether it will be counted in months or maybe billing periods. In the latter case, you might inquire about the exact duration in days, months or weeks.

Even more important thing is the interest rate at the end of the promotion. The transfer of debt elsewhere to the three months is a  relief, but the fact is that it can have its advantages. Please also note that await us further formalities for the transfer of the card itself. They resemble small the procedure when we set up a new card, with a small addition in the form of documents If the purpose is the transfer of the debt, there will be considered the documentation mainly concerning the time in the regulation of debt and the like.

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