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Geezzzz

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Why offer credit card transfer options?
New credit cards have higher interest rates! How is a transfer to another credit card going to help? And why does Credit Karma offer info for them?

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Credit Karma receives payment for the credit card companies for advertising and when you apply for a card through them.   This is how they keep the site free for you to use.  The "chance of approval" is based on factors that appear in your report.   This is probably clearly reflected in many of their articles about credit.  This is not a pre-approval, it is based on a factor or two that appear in your report.  IE:  Chase likes low Utilization.  Thus, if you are under 10% and you have a minimum score they indicate then Credit Karma will show the chances are good.  They don't compare your Negatives or other items in your account.     Your other question is why transfer a card balance to a higher interest account?   The only reason for that is the time that the new card is offering 0% interest.   They hope you pay the minimum so in the end you end up paying them the interest instead of the other card.  Lets face it, they make money on interest.  I'd like to get 20% return on my money.    If you take full advantage of the offer, you use the interest you are saving by paying more than the minimum and work to pay off the amount before the end of the 0% entitlement.  You haven't lost, you still have your original card with the lower interest and saved yourself 17-30% of the prior balance.  The problem faced by many is they don't take full advantage.  When they transfer the balance, they continue their spending trends on the original card and now they end up having more debt and the cycle never ends.

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