Why is it worth making a Balance Transfer?

If you have a large outstanding balance on one or more credit and store cards – you will undoubtedly be able to save money by transferring your balance to another credit card.

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Why is it worth making a Balance Transfer?: If you have a large outstanding balance on one or more credit and store cards – you will undoubtedly be able to save money by transferring your balance to another credit card.
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This is because many credit card companies offer excellent introductory rates on balance transfers in order to get your business. There are many companies which offer this introductory rate for 6 months, and a few that offer 0% on balance transfers for 9 months. This gives you a chance to pay off your balance without worrying about the interest charges, which could potentially be very high.

If you are very organised, you can make the most of this system by opening a new credit card account every 6 months, and transferring your balance on to it. If you cannot pay your balance off in full before the introductory rate ends, this is the next step in avoiding paying interest on your credit card debts.