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Low Transfer Credit Cards

If you already have a credit card - you may be paying sky high interest rates.

So simply by transferring this debt onto another credit card you will reduce your fees. You will still have fees but if you've done your calculations properly they should be overall lower - if not then there is no point in transferring your fees.

There are usually two methods of transfer:

  1. A one off fee of the balance you wish to transfer across.
  2. A percentage cost of the balance you wish to transfer across.

You'll have to do some maths for the cards which are available to you to do this to see which card is most effective for your circumstance.

Another thing you need to think about when doing this is your credit score. You can get a worse credit score if you continually transfer your debt around without actually paying it off. This is fine if you have small debt but when you want to purchase that big ticket item such as a house or car - you may find that you will struggle to get the loan you are after.


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