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Learn more about how to transfer credit card balances »Once you find a balance transfer card that fits your needs, apply for the card.
You will need to authorize the credit card company to run a credit check.
You won’t know the exact length of the 0% APR period until you apply for a card, but for now, you can at least check what monthly payments you’d need to make for with different teaser rate periods.
To do this, divide your total balance by the three most common teaser rate periods to see what your monthly payments would be.
However, again, if you have lots of cash flow, you might be able to consolidate more with a loan. Still the first step is to total up your existing credit card debts.
List the current balance, current monthly payment and APR for each balance you owe.
There are two things that you want to look for when shopping around for balance transfer credit cards: Another thing to consider is whether the card will allow you to transfer all your existing balances.
Most credit card companies won’t let you transfer existing balances from other cards you have with them.
Still, do-it-yourself debt consolidation doesn’t work in every situation.If you have multiple credit card balances that you need to pay off, debt consolidation can help you get out of debt faster.You find a way to roll all your balances into one monthly payment.How much debt you need to pay off will play a big role in determining your best option for consolidation.A balance transfer is the ideal solution if you owe less than ,000.