Man Juggling to Illustrate the Challenge of Multiple Credit Cards - Balance Transfer Can Simplify

5 Great Times for a Balance Transfer

With the holiday gifting in the books, you may have already peeked at your credit card bills. If Santa was a little too generous this year, or you want to consolidate other debt, a balance transfer may be the best option.
Here are five times to ditch your card with a balance transfer:

1. Things aren’t like they used to be.

Rates, fees and limits can seemingly change overnight with some credit cards. When promotional periods end, or there is a missed payment, you may be left with a less-than-desirable account. Move to a low-rate, low-fee card to protect yourself from unwanted surprises.

2. Your rewards program is not so rewarding.

We’ve all fallen for airfare or in-store discount offers. But we soon realize high fees and finance charges aren’t worth the bonuses. A balance transfer to a no-nonsense card will quickly reward you with interest savings.

3. Juggling isn’t your thing.

There’s an art to juggling, including juggling multiple credit card accounts. Different due dates, payments and rates can leave you feeling like you can’t manage it all. Consolidate balances to one card to lower monthly payments and prevent missed payments.

4. Life happened.

Unexpected events disrupt budgets as much as they disrupt lives. Car trouble or an illness can require some serious moola. Many times these expenses wind up as overwhelming balances on high-interest accounts. A lower-interest rate balance transfer can ease the financial burden while you deal with, well, life.

5. You are serious about getting out of debt.

You have committed to getting out of credit-card debt. But high finance charges and fees seem to undercut any progress. Switch to a low-rate card for an easier path to financial freedom.
Do you think a balance transfer may make sense for you? Apply for a Platinum Visa account with Utah First Credit Union, now with an promotional, introductory APR of a low 4.95% on all purchases and balance transfers for 12 months. Apply now.

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