Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
bakercrum

0 Contributions
0 People Helped
Balance transfer!
I need to know if its possible to transfer my credit card balances onto one card? Would this help me get them paid off quicker or put me in more debt?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
713 Contributions
2573 People Helped
Most Helpful Response

Helpful to 2 out of 2 people

IF your credit is good and IF you have (or can get) a card that offers both a super introductory rate, low transfer fees, and a high enough credit line to allow the transfer you want to make, a balance transfer can be a useful money-saving tool.

If, however, you already have or think you might have trouble managing your credit, then indeed you can end up in more debt by doing this. In that case, you might want to consider the "snowball method" of paying your existing cards down (google it or check it on Wikipedia). It's fast, gratifying, and doesn't create so much temptation.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.