FinanceMarlin.com Explores Credit Card Transfers and Offers Three Important Guidelines
New York, NY (PRWEB) July 24, 2013 -- Credit card transfers aren’t an inherently complicated process; however, credit and credit ratings are very important in today’s society. Finance Marlin knows that senior citizens have been on the planet a long time. Procedures and technologies have changed drastically. FinanceMarlin.com wants to help keep seniors in the know and thus, FM offers seniors guidelines to keep in mind when completing credit card transfers.
The value can be high when transferring high interest rate credit card debt to a lower interest or no interest rate credit card. Managing debt can be difficult, particularly for seniors. Following the ABC News article "What to Know Before and After a Credit Card Balance Transfer" (published 7/6), FinanceMarlin.com offers three credit card "must knows" for before, during, and after initiating a balance transfer.
1. Most importantly, maintain the credit profile. Don’t allow accounts to fall behind or become delinquent. Have a plan for decreasing the debt load. That may include a balance transfer, but a full, comprehensive plan is key.
2. When considering a balance transfer, compare rates, balance transfer fees (yes, there may be fees), and all of the details. Incidentals like how long the transfer option is open for, and how long the reduced or zero interest rate lasts, is a good way to actually determine whether or not the transfer is a good idea.
3. Make at least the minimum payment on the account. The better option is to pay more and reduce the debt quicker, but at the very least, make sure the minimum is paid each month.
FinanceMarlin.com believes that it is important to maintain a healthy bill of credit. FM offers important information for seniors looking to initiate a credit card balance transfer and provides three key guidelines.
About FinanceMarlin.com
Finance Marlin provides value-rich information and advice for seniors.
Finance Marlin, financemarlin.com, (602)730-1109, [email protected]
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