How to Seek an Unsecured Credit Card to Transfer Credit Card Debt
- 1). Research the balance transfer cards available to you. If you already have an open account with a credit card company, contact the customer service department directly through the phone number printed on your card. Ask for special balance transfer offers. Often, balance transfer cards offer a 0 percent introductory rate for at least the first six months after opening an account. Some have a minimum balance transfer requirement. Many also charge fees, but some waive that charge entirely.
- 2). Shop for attractive balance transfer offers. There are many free credit card comparison websites online (see Resources). Be aware that the advertised interest rates and fee structures for most credit cards will differ from the ones that are actually offered to you. Once you apply for a card, the company will evaluate your credit rating before deciding what to offer you. You'll receive the final offer in the mail if you qualify. Review the card agreement carefully. The company will need to provide at least a 30-day advance warning of any interest rate increases.
- 3). Use the balance transfer card to pay the balance of one or more of your other cards. It doesn't matter what company you have the balance transfer card from---you'll be able to use it to transfer the balance from any other card to that one.
- 4). Try not to carry too much of a balance on your credit cards, even if you can use a balance transfer. In the future, you may not be able to find another 0 percent introductory balance transfer card. If that happens, you may be stuck with high-interest debt that could strain your finances.
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