Credit card debt can really feel like you are chasing your tail. Interest builds and builds making it hard to keep up with payments. There are a hundred reasons why someone has managed to accumulate a large balance on a credit card. Whatever the reasons are behind the issue matter less than our plan to help fix your situation. Rocky Mountain Law Enforcement Federal Credit Union wants to help our members by offering a credit card balance transfer** with 0% APR for 6 months and then a low 12.25% APR* after that! There are no fees, zero fraud liability, and credit limits up to $20,000. Our RMLEFCU Visa Platinum Card offers great rewards for merchandise, travel, and even cash back.***
Use this opportunity to get out of debt and/or save some money. Here is some information on balance transfers to help you understand and prepare for transferring your credit card balance to a RMLEFCU Visa.
What is a balance transfer? A balance transfer is when you use a credit card to pay off the balance of another credit card. This moves the debt from one credit card to another.
Why transfer a balance? Transferring a balance is helpful when you are paying a high interest rate on a credit card balance. By moving your debt to a new RMLEFCU credit card with 0% interest for 6 months and a lower 12.25% APR* interest rate you can pay down your debts faster saving you a lot of money and give you time to recover and get your spending under control.
Why wouldn’t I want to transfer a balance? You do not want to transfer balances continually from one credit card to another solely to avoid paying interest. This can hurt your credit score in the long run and can perpetuate the cycle of debt. If you have questions or concerns about performing a credit card balance transfer please contact one of our helpful representatives for advice.
If you are ready to take advantage of our great credit card balance transfer promotion please read the steps below to help you prepare.
- Keep up with your current payments. This is very important. If you keep up with current payments you can maintain a higher credit score, which will allow you to receive a better rate with the new card.
- Understand all terms and conditions. Please make sure you understand all the terms and conditions of our offer. The goal is not to get into further financial trouble but to help you pay down your debts. Please call 303-458-6660 to learn more.
- Make a plan. Determine a safe repayment plan and do not increase your spending. Moving to a RMLEFCU credit card during this promotion can be a huge help. We strongly recommend taking advantage of it to help your financial future.
Once you have made the balance transfer be sure to make at least the minimum payments on all your credit cards.
We hope this article has helped you understand credit card balance transfers. Quit chasing your tail and please contact us with any questions you may have. Credit card debt is a very serious problem. We have experienced staff that can help get you on the right track. Please don’t hesitate to contact us today.
* APR = Annual Percentage Yield
**With approved credit. Some restrictions may apply.
***Some restrictions apply, offer extends to Visa Platinum Cards only, and offer expires September 30, 2014