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Taking advantage of low introductory rates is the primary reason for credit card balance transfers. Not only will you save on interest but you’ll also be able to pay off the principle at a faster pace, thus eliminating your credit card debt faster.

Step 1

The first step involves doing your research to see whether or not the new credit card will allow balance transfers. The information should be easy to find using one of these three methods:

1. Call one of the credit cards customer service reps
2. Find it on the credit card’s user agreement
3. Find it on the credit card’s website

Step 2

If the credit card company allows you to transfer balances, you’ll most likely be able to make a transfer online. If your new credit card company doesn’t have an online option, you will have to do it by phone or mail.

Step 3

If you have access to an online form, you will have the option of transferring a partial balance or the total balance of your card(s) onto your new card.

Step 4

So now you’ve looked for a credit card with a low introductory rate and you’ve done your research to find out that they do transfers. Your new card company has the online form option and you complete it and all goes planned. Now what? Well now you have to work hard, save lots and pay off as much debt as possible before that introductory rate expires.

Step 5

Do not get into the habit of doing this often. Transferring your balance from card to card is not the solution. Paying off your debt is the only way to solve your credit card debt issues.

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