653 - Should You Transfer Balances to No-Interest Credit Cards Multiple Times?

Money Girl

Macmillan Holdings, LLC

Investing, Education, Business, Entrepreneurship, How To

4.6 • 1.8K Ratings

🗓️ 23 September 2020

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

Considering a no-interest balance transfer offer? Find out how they work and can make paying off high-interest debt easier. Laura covers the pros and cons of balance transfers and whether moving debt multiple times can help or hurt you. Read the transcript. Check out all the Quick and Dirty Tips shows. Subscribe to the newsletter for regular updates. Join the conversation on Facebook and Twitter. Links: https://www.quickanddirtytips.com/money-finance/credit/transfer-balances-no-interest-credit-cards https://www.quickanddirtytips.com/podcasts https://www.quickanddirtytips.com/subscribe https://www.facebook.com/MoneyGirlQDT https://twitter.com/LauraAdams

Transcript

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0:00.0	Hey everyone. This is the Money Girl Podcast and I'm Laura Adams.
0:09.8	I've been hosting the show since 2008 and I'm also the proud author of a new book.
0:15.5	Money Smart Solopreneur, a personal finance system for freelancers,
0:19.7	entrepreneurs, and side hustlers.
0:21.7	It officially goes on sale everywhere books are sold on
0:25.1	September 22nd. I'm really excited about this book because I truly believe it can
0:30.9	help a lot of people who are thinking about creating a business,
0:35.2	whether it's to earn more income, create a better or different lifestyle, or just stretch
0:40.4	their entrepreneurial muscles on the side of a day job or full time.
0:45.6	So I hope you'll check it out.
0:48.3	There is a small but mighty team that runs this podcast and the entire quick and dirty tips network of
0:54.9	podcasts and one of the key players is Karen Hertzburg. She's the editor and
1:00.6	content strategist for the network.
1:03.9	Karen sent me an email.
1:05.6	She's got a friend named Heather who listens to the podcast
1:09.8	and has a question.
1:11.4	She thought it would be a great podcast topic and sent it to me of course.
1:16.4	And here's what Heather says. She says I had a financial crisis and ended up with
1:22.0	$2,500 on my new credit card, which had a no-interest
1:27.7	promotion for 18 months when I got it. That promotional rate is going to expire in a couple of months. I have good credit and I keep
1:36.7	getting offers from other card companies for zero interest balance transfer promotions.
1:43.0	Would it be a good idea to apply for another card and transfer my balance
	...

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