What is the best credit card to transfer my Citi balance to?

I have $3,000 on my credit card. The interest rate is 18% which is rediculous. It is the same rate that I had when I got the card at 18 years old, and I’ve made every payment on time. I am 24 now. I have no bad marks on my credit. Shouldn’t I be able to lower my interest rate and get out of the freaking student interest rate? Thanks!

By | 2013-08-27T01:21:07+00:00 August 27th, 2013|Mortgages Home Loans Interest Rate|3 Comments

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3 Comments

  1. bdancer222 August 27, 2013 at 2:34 AM - Reply

    Pay off the balance. Credit cards are not long term financing. They are short term conveniences. If you only charge what you can pay in full each month, you don’t have to be concerned with the interest rate.

    If you do open another credit card account, don’t close the Citi account. Closing it would close your history and lower your score. Keep the account open and use it for a small purchase every 4 months or so to keep the account active.

    Be aware that when you transfer balances, there’s a fee of about 3%. Low interest special offer deals are probably few and far between but beware that it takes very little to default to a higher rate.

  2. Frank Fitton August 27, 2013 at 2:30 AM - Reply

    There are plenty out there that will give you a 0% interest rate on balance transfers at the beginning as a teaser rate. I’d look for one of them.

  3. siva August 27, 2013 at 2:03 AM - Reply

    I have choosed HSBC for the same in India. Pl check it for USD

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