If you’re trying to improve your credit after a financial hardship, checking your FICO score every month is a great way to gauge your progress. It’s encouraging to see that your hard work is paying off. It’s also a good way to spot credit mistakes when you make them and adjust your habits accordingly.
Transferring balances from high-interest cards can be a smart move if you choose the right card offering the best balance-transfer benefits. Many cards offer a 0% intro APR for a year or more when you move a balance over. Of these cards, our favorite right now is one that offers the best combination of savings on interest and fees – Chase Slate®.
We at Point Savvy are real advocates for the benefits that can be enjoyed by the responsible use of credit cards and other banking tools. However, there are extraordinary life events that can challenge even the most disciplined individual when it comes to the financial choices we make.
I relocated to a new city a year ago. I had been at my job for five years and was taking that scary risk of being a 20-something and leaving my steady job without having a new one lined up in the new city I would soon be calling home. I can’t say that I wasn’t looking forward to a few months off but I knew the panic of not getting a paycheck twice a month would soon set in.
Taking advantage of a 0% intro APR offer can be a smart move if you find yourself carrying a high balance (or balances) from high-interest cards. It happens to the best of us. Even some staff members here at Point Savvy who have worked in the credit card industry for years have gone against everything they’ve learned about credit card debt and allowed their balances to accrue and revolve month after month.