However, it is actually possible to so called 'change' your debt from one company to another. And in the process reduce your monthly 2% interest to a one time admin fee ( from 1.5-6.5%) for 6-24months. I.e. you pay less for interest by shifting your debt around, then letting one particular credit card company charge you interest.
Here are the rates.
* Gotten from The Sunday Times on 14 Dec 2008
2 comments:
I am not in the habit to do that, but today I applied for StanChart's offer. It aint really balance transfer. U can take $$ out of your credit card account interest free, for 12/24 months. Put that money to pay other credit cards or just transfer into your bank account. No interest fee but admin fee is 3% for 12 months or 5% for 24m. I think the max is 90% of your available limit i think. Offer ends dec 31st.
charlesming
timetohuat.sillypore.com
i see, its something like a cash advance but with much lower interest rates...thanks!
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