Be Responsible:

While a credit card makes it easy to buy something now and pay for it later, you can lose track of how much you've spent by the time the bill arrives if you're not careful. And if you don't pay your bill in full, you'll probably have to pay finance charges on the unpaid balance. More importantly, if you continue to charge while carrying an outstanding balance, your debt can grow quickly, and before you know it, your minimum payment is only covering your interest. (Consider a 0% balance transfer at this point.) If you start having trouble repaying the debt, you could tarnish your credit report. This situation can have a sizable impact on your life. A negative report can make it more difficult to finance a car or home, to get insurance and even obtain employment.

Next up - 3 Types of Credit

Return to the Transfer Tips Main Page

Return to the Balance Transfers Cafe Home Page