Are balance transfers worth it?
With low interest rates, balance transfer offers are tempting. Are they a good idea?
If you tend to carry a balance on your credit cards 每个月，你可能都会在邮箱里收到很多余额转账的建议. 由于利率极低，低至零，这些提议当然是诱人的. But are balance transfers a good idea? And are some actually better than others?
To get you to open the envelope, 大多数优惠的特点是吸引人的促销年百分比在巨大的字体在信封的前面, sometimes as low as 0%. 但一旦你进入信封，当你阅读那些小字时，事情就开始变得有趣了. Learn more before you decide to apply for a balance transfer.
What is a balance transfer?
余额转移是一种金融行为，你将信用卡债务(从一张或多张信用卡)转移到另一张信用卡上，在特定的时间内为你提供更低的利率甚至零利率(取决于某些因素). 这里有一些事情要考虑，这样你就可以弄清楚信用卡余额转账是否对你有好处:
- A zero interest rate is not available for everyone. You may not know if it's an option until after you've applied. 所以要做好准备，零利率可能不是你真正得到的.
- 考虑新信用卡的介绍性利率的长度. Look closely at how long that low rate will last. 几个月后，或者如果你逾期付款，介绍性利率可能会迅速上升.
- Confirm if there is a balance transfer fee. 这是一笔一次性付款，作为交易成本加到你的余额中. 这个数额是根据你转帐总额的一定百分比计算的，通常是3%到5%. 所以如果你转账2万美元，手续费是3%的600美元或5%的1000美元. That's pretty significant. In fact, 找一个没有费用但年利率略高的余额转账可能是值得的, often in the range of 1.9% to 2.9%. 如果您计划在促销期间还清部分或全部余额, your cost may drop significantly. Either way, 你每个月仍然要付更少的钱来支付当前高息信用卡的余额. Use this calculator 帮助你计算出基于利率和期望偿还债务的时间.
- Understand how new charges apply. 请记住，如果你在你的新卡上购物除了余额转账, 你可能没有资格享受典型的免息宽限期，你通常会得到当你全额支付你的账单. Be sure to read the conditions and the fine print of your offer.
- Compare balance transfer offers. Different credit cards might offer you different rates, transfer fees and length of introductory rates, among other things. In addition, some credit cards might offer rewards, zero annual fees, travel miles or fewer penalties for late fees. 拿起笔和纸，看看所有这些东西，看看哪一张信用卡可能是最符合你需求的.
How does a balance transfer work?
在你做了功课并决定余额转账之后, here are some steps to keep in mind to get the process going:
- Apply for the balance transfer credit card you have chosen.
- 收集所有关于你将要转移的债务的信息，包括账户信息, exact amounts of the balances and the credit card issuers.
- Begin the transfer with the new credit card issuer. 这可以在网上完成，在电话上，在某些情况下，发行人可能有其他方法来做到这一点.
- After the transfer is complete, 您的新账户将反映现有余额，以及您可能因转账而产生的任何费用.
- 通常的做法是，新的发行人将直接支付旧账户, but confirm their process.
- Begin to pay your credit card balance.
Consolidation loan
In some cases, and depending on the amount of debt owed, a balance transfer might not be the best way to address paying off your credit card debt. 你所欠的和你计划的月供可能无法在优惠价消失之前完全还清债务. 在这种情况下，你也可以考虑用合并贷款来偿还你的债务.
通过将所有的债务合并为一个，你可以减少你的月供，腾出一些资金. This debt consolidation calculator is a helpful tool.
Getting out of debt is sometimes a big task. 余额转账可以帮助你利用较低的利率，这样你就可以集中精力还清债务，同时产生较少的利息费用. Learning about budgeting and how to spend less might also help you in achieving some of your financial goals. In addition, a financial advisor might help you set up steps to keep your finances in order.
