Avoiding Partial Balance Transfers

All or Nothing

If you are applying for a balance transfer, it is very important to tell the credit card company not to transfer any of your balance unless the entire balance can be transferred. There is very good logic behind this request. If you apply for a balance transfer and you are not approved for a credit limit high enough to accommodate your entire balance, you will end up with two credit card bills instead of just one. Your desire to get a balance transfer was probably to simplify your life and save some money in the process. If you apply for a balance transfer but only qualify to get part of your balance transferred, you have still not accomplished your initial goal of simplifying your financial situation and you may even have made it worse.

While making this request to your credit card company certainly won’t guarantee that you will qualify for a credit limit high enough to transfer your pre-existing balance, you will certainly make sure that you don’t further complicate your financial situation. Keeping up with two or more credit cards can be time-consuming and difficult. A balance transfer on just part of your existing balance is not worth it. Aim for getting your entire balance transferred. If that can’t be done, simply decline the offer. You could also wait six months for your credit situation to change, and then reapply. Perhaps at that time you will qualify for a credit limit high enough to transfer your entire balance.

To find a low-interest balance transfer credit card, visit the following balance transfer credit cards website and find the one that fits your needs.