Moving money from credit card to credit card to take advantage of interest free
balance transfers and effectively borrowing money for free. It's level possible to make
money by borrowing money, transferring the debt to an interest free card and
investment the cash in a high interest nest egg account until the interest free time period
However, if you be after on being a series card surfer, there are a number of things you
need to do.
Firstly. Brand certain you read the terms and statuses of the card to which you're
transferring your balance and are aware of exactly what you're signing up for. Some
cards, for illustration take a firm stand that you pass a certain amount per calendar month on the card in
order to measure up for the interest free balance transfer.
Secondly. Never, never, never pass any money on the card to which you transfer a
balance. This is because, your monthly payment is always set towards paying off the
transferred balance. This agency that you will pay interest on everything you spend,
even if you pay off as much as you pass every month.
Finally, do certain you cognize and compose down the day of the month that the balance transfer time period
ends. Better still, put an dismay on your mobile phone or PDA for seven workings years
before the termination date. That volition give you enough clip to pay off the balance before the
interest free time period ends.
Follow these simple guidelines and you can breaker from credit card to credit card and
never pay any interest on transferred balances.