is transfering a cc balance to a new card still a good idea?

we're working hard on paying down consumer debt. we have three credit cards left. one of the three is really killing us. is it still a smart move to get a new card to transfer the funds??

i've never done it before.

tia

Re: is transfering a cc balance to a new card still a good idea?

DEFINITELY!!!!!!!

Re: is transfering a cc balance to a new card still a good idea?

of course!
I dont see why there would be a problem.
There are a lot of 0% APR and balance transfer offers around.
It could save you a bundle

Re: is transfering a cc balance to a new card still a good idea?

DH and I have bought done this in the past and it worked out great. We where able to pay them off alot quicker. That 0% APR is a wonderful thing!!

Message edited 2/24/2008 11:13:46 AM.

Re: is transfering a cc balance to a new card still a good idea?

absolutely! Why pay a finance charge every month, when you can put that towards your payment???

usually there is a one time transfer fee.

Re: is transfering a cc balance to a new card still a good idea?

Definetly.....

Re: is transfering a cc balance to a new card still a good idea?

yup!

Re: is transfering a cc balance to a new card still a good idea?

generally 0% transfers are a good idea. definitely check the fee and make sure you will save at least that much in interest. and also check the APR of the new card after the promotion ends. you don't want to transfer onto a new card that will have a higher APR after 6 months or so.

Re: is transfering a cc balance to a new card still a good idea?

I do this all the time.. and it has actually raised my credit score. Be sure to keep up with your payments and when possible pay MORE than the minimum...

I use CC balance tranfer offers from different cards with low aprs...