At some point in time, you are likely to receive an offer in the mail. Transfer an existing credit card balance to a new card and receive a promotional interest rate for a set number of months. Are these offers worth it? It depends on the promotional interest rate, the length of the promotional period, what the standard interest rate is once the promotional period expires and what the fee is to transfer your balance from one card to another. During the promotional period, you might be paying a lower rate, or 0% depending on the offer. Are the interest savings greater than the balance transfer fee? Whether they are a good deal or not also depends on how long it takes you to pay off the card balance once you move it to a new card.
The Institute of Financial Wellness is the first and most comprehensive multi-media network for financial education, resources, and services. In fulfilling our mission to help people “Get There” and live their best life, we deliver the following five unique value propositions:
– The industry’s most engaging, informative, and objective financial education content
– Clarity and confidence to help individuals make informed financial decisions
– Access to the IFW Network of Financial Professionals for everything financial
– Full implementation of effective, custom-tailored solutions for everyone’s unique needs
– Ongoing guidance and support to ensure maximum financial success through every stage of life