Transfer this (balance)

I’m always eager to share articles written elsewhere that are useful to Beyond Paycheck to Paycheck readers.  That’s one reason I read the Carnival of Personal Finance every week. This week’s version, hosted by fellow New Englander David from Money Under 30, includes my post Should I Repair My Car or Buy Another One?

Of the more than 100 articles at the carnival, one immediately caught my eye: The Digerati’s Balance Transfer Credit Card Tips, Facts and Traps.  While much has been written on this topic, few writers have tackled the balance transfer “opportunity” as succinctly.  More importantly, Silicon Valley Blogger includes a little table summarizing where the current opportunities. Alongside, the accompanying text highlights your key personal considerations. Like most other personal finance considerations during a downturn, opportunities abound – just not in the same place nor in the same way as a few years ago.

For anyone with existing credit card debt, his article should be considered required reading.  Note: your individual conclusion may be to do absolutely nothing.  And that’s okay too.

Tags: balance transfer, credit card, credit card debt