As the year winds down, those Christmas credit card bills start rolling in, and many of us wonder how we’ll ever get them all paid off, especially with interest rates running as high as 29% or more on some cards.
If you’re like most people, you probably spent way more than you planned to over the holidays, and those monthly payments are going to eat up most of your budget for the next few months. But, there are some options out there, especially if your credit score is fairly good.
Now, I know over the past couple of months, you were probably inundated with credit card offers, but more than likely, with the holidays gone, so are the offers. Relax. You can still find some really excellent rates on both personal loans and balance transfers.
Balance transfers are especially good if you’re trying to pay off your credit cards – you just transfer the balance on an old higher interest rate card to a new card with an introductory, interest free period. And, honestly, if you can pay the new balance off within the allotted time frame, a balance transfer may just be your best option to pay off Christmas debt. Not only will you not have ANY interest charges during the promotional period, but most offers give you at least 12 months (and usually even longer) to pay off the balance – just make sure that you have a plan to pay the balance transfer off so that you’re not stuck with a big interest payment down the road.
But where can you find balance transfer offers for your credit range?
Here’s a good place to start: