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Have you ever been persuaded into opening a store credit card to get money off your purchase but then realize it has an incredibly high-interest rate? It happens, and sometimes you even end up opening multiple credit cards at different stores. After your balances add up, you’re left wondering what the best way is to pay them off.
This is where a balance transfer comes in handy!
Balance transfers are the process of combining credit card balances onto one card. Putting all your balances into one location makes them easier to pay off by having only one payment with a single lender, generally at a lower interest rate. Below are the steps you need to take to complete a balance transfer:
If you are looking to combine your credit card balances to a card with a low-interest rate, American 1 Credit Union offers free balance transfers! Apply today!