Hey, anyone know about credit card balance transfers?

I guess I could call around on my next day off and find the answer to my question. But maybe someone here could help me now. I need to transfer a balance on my Visa card to another card that offers 0% interest for 12-15 months.

I saw an ad for a Capital One card that has 0% interest on balance transfers for 15 months; I applied and got approved but when I went to transfer funds from my other card, Capital One says, “The balance transfer offer was good when it was emailed to you but it is not available now. You may get an offer 11 days after you opened your account.” WTH? I need to transfer that balance now. Are all new cards going to be like this where you don’t get to immediately use a balance transfer offer? I hadn’t applied for a new card in years and it used to be you could apply for a card and when/if you got approved you could immediately transfer balances. Are things different now?

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I can’t help you unfortunately.

In Belgium you cannot transfer between credit cards.

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Usually once you activate the card, that’s when the window for making the balance transfer begins. But as always, the fine print is what goes.

Also, just a tip: you can find cards that have longer interest-free periods— some are like 21 months, so I would highly suggest checking for those cards (depending on your needs, of course).

Keep this Capital One card around and active— it will help keep your Debt-To-Income and card utilization ratio down as long as you carry a minimal to zero balance on it and keep the credit line open.

—From an ex-banker and person who has done her own balance transfers as well

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Wow you’re a smart tuna :nerd_face: brains and beauty :stuck_out_tongue: maybe you could teach me a few things about financial literacy. I’ve been meaning to learn a bit about it but can’t really find any good YouTube channels. You know any?

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Haha you so funny! :nerd_face:

Full disclosure: I am working on lowering my own credit card debt due to several manic episodes, so it’s not like I have everything figured out! :stuck_out_tongue_winking_eye:. I am going through a credit consolidation agency (for anyone wondering!) and it has been highly beneficial so far, so that is one recommendation from me.

So yea, while I do have some credit card debt, after working in a bank for almost 3 years, I did learn a couple things, and can try to answer your questions as best as possible.

As far as resources for financial literacy goes, I will have to take a look! Never thought to YouTube that sort of stuff (it’s usually just music vids for me haha), but that’s a very proactive step :+1:— I think I might see what YouTube has to offer as well. If you find anything good, please share!

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Will do! I did a search for it a while back and found a few channels but not exactly what I’m looking for. I just wanna get my mind wrapped around finance a bit really… To start soaking in some basic tips and tricks really.

I’m not to horrible with money, I used to want to be an Investor so I think I have the mind for it but. Since becoming religious I’ve taken the attitude of “oh I don’t care about money”. As I’ve gotten more mature tho ive realized that that’s not exactly the right attitude. We should still be careful with what we do with our belongings…not worshiping money but also not being wasteful.

Budgeting I find really interesting… Personal accounting that kind of thing. I don’t want to be a millionaire but I want to make sure I know how to manage my life without being in the poor house.

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Well said! :fist_right: :fist_left:

Yes, budgeting is an awesome skill to have and can be as basic or intricate as you want to make it. It truly helps one assess the bigger picture through the smaller details.

Personally speaking, a lot of the clients I saw at the bank who had healthy accounts used multiple checking accounts to manage their money and help them budget— a savings was an absolute must, but then they would have a separate checking account for purchases and at least another one for stuff like household expenses, etc., and one for like random stuff.

Also, online banking is super easy and helpful to monitor funds with. A quick log-in can keep one up-to-date on the happenings in their accounts. Plus, it beats having to go to the bank to talk to someone, haha.

There was this budgeting app I used to use called Mint— that was super helpful. Showed cash flow and organized it based on categories like shopping, food, rent, bills, etc. so you could see exactly where your money was going, and take action if you wanted. It gets pretty in-depth, depending on your needs. They do ask you for your bank info and stuff, but I remember the app being extremely secure. Actually thinking about reinstalling, since it was a big help back in the day.

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Oh wow having multiple accounts sounds cool! I think that’s a good way to manage money. But probably more for people with multiple revenue streams I imagine.

I always wanted to get an app like that. I just wish there was one that was more automatic. I don’t really want to input everything haha. Maybe I’m just lazy :stuck_out_tongue:

One thing I think is important with finance is being consistent. If you have a good routine… Shopping on the same day. At the same place etc I think it’s possible to get a good routine where you can wrap your mind around how much things are costing. Here’s where having autistic traits of loving routines comes in handy I guess lol

I’m gonna make a finance thread :grinning:

Defos good for that (ie rental properties), but I’ve seen folks earning a single income use this approach as well. Some people even had accounts just for Christmas shopping, haha.

Haha saaaaaaame!

Defos, sticking to a budget helps!

That’s an interesting point for sure, I could see that. Going off on a slight tangent, I will say that some retailers have better deals than others, so depending on what you’re looking for sometimes shopping around can help, but I see what you’re saying :+1:

Haha, it’s your superpower :stuck_out_tongue_winking_eye:

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