Comments on: Credit Card Consolidation & 0% Balance Transfers | Does It Really Help?

By: Derrick

Derrick — Sat, 28 May 2011 22:35:11 +0000

credit card balance transfers, are not usually in the best interest of the consumer though…

By: Carnival of Personal Finance – Gettin’ Hot in Here Edition

Carnival of Personal Finance – Gettin’ Hot in Here Edition — Mon, 19 Jul 2010 06:32:19 +0000

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Mid-Summer Round Up — Sun, 18 Jul 2010 23:27:49 +0000

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House Flip Update / Roundup — Sat, 17 Jul 2010 09:32:06 +0000

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By: Darren

Darren — Thu, 15 Jul 2010 16:24:39 +0000

Hey Craig,

First, thanks for the mention. I appreciate it!

Secondly, I agree that the balance transfers work best when you’re committed to getting rid of all your credit card debt. If you don’t pay off the balance within the promo period or find another 0% balance transfer offer, then as you mentioned, you’re just shuffling around debt and going for a band-aid fix.

These offers usually get thrown at people who have good credit. Ironically, they’re the people who are most likely not in need to use the balance transfer.