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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Balance Transfers - A Silver Bullet? Date:  7/16/2003  6:07 PM
Author:  PeesPorridge Number:  164892 of 312185

Someone on here once asked me why I did not recommend BT's and this was my answer that seemed to be received well:

who looked for that in the last few months and it was 15 MONTHS AGO!

You left out the obvious. If you don't have a balance, you don't need to transfer. If you always pay off the balance in full, the interest rate is immaterial.

My wife's got a cousin who plays the BT game and still hasn't figured out why her debt is not diminishing. It's a matter of behavior, not number crunching. If you don't change the behavior, you'll never get out of debt.


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