http://www.visioncredit.org Your Nonprofit Credit Counseling Organization Sat, 04 Feb 2012 20:07:52 +0000 hourly 1 http://wordpress.org/?v=3.1.2 http://www.visioncredit.org/debt-counseling/self-directed-repayment-strategies/comment-page-1/#comment-4433 Does Paying Off One Card Create Balance Transfer Opportunities?-Credit and Debt Blog Wed, 20 May 2009 14:40:16 +0000 http://www.visioncredit.org/?page_id=634#comment-4433 [...] It is probably worth it to take advantage of attractive balance transfer offers if it substantially reduces your overall interest and repayment period. However, if you do not get the offer you need or are denied any request, make sure you hold off on new requests for 3-6 months. You can target one of your other high interest accounts with the extra money you have left over each month now that your one card is paid off. If you do target one account, make sure that you periodically make higher than minimum payments on each one of your other accounts. An extra $20 every 4 months is a good way to keep those in good standing. You may want to follow this example of a repayment strategy. [...] [...] It is probably worth it to take advantage of attractive balance transfer offers if it substantially reduces your overall interest and repayment period. However, if you do not get the offer you need or are denied any request, make sure you hold off on new requests for 3-6 months. You can target one of your other high interest accounts with the extra money you have left over each month now that your one card is paid off. If you do target one account, make sure that you periodically make higher than minimum payments on each one of your other accounts. An extra $20 every 4 months is a good way to keep those in good standing. You may want to follow this example of a repayment strategy. [...]

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