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BALANCE TRANSFER CARDS AND HOW TO USE THEM

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Anonymous
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Re: BALANCE TRANSFER CARDS AND HOW TO USE THEM


@masscredit wrote:

Here's what I use my balance transfer cards for. First, I use my other cards for normal monthly expenses. The due dates are spread throughout the month. Then, at the beginning of the month. Then after I'm done with them for the month, I balance transfer all of the other balances to one card. Sometimes I've only used one or two cards that month, sometimes more. But I transfer everything to that one card and just leave a balance on one card that will be reporting a balance when the statement closes. Then, at the beginning of the month, I pay off the card that I used for the balance transfers then keep that cycle going every month. 

 

This allows me to use most of my cards at the same time and pay them down (off) each month. Credit line increases happen regularly. This month I made the mistake of overpaying one of my cards so they all reported a zero balance. Lost 13 points because of that but gained those points back the follow week when I let a card post a balance. That's one benefit of having the statement closing dates spread out over the course of 4 weeks. 

 

Oh yeah, the cards that I use for BTs have no transfer fee. It wouldn't be worth it if they did. 


CapitalOne i'm sure. Smiley Happy They make a great pit stop.

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