 TITLE: 5 Ways to Make the Most of Your Balance Transfer Card CONTENT: 2\\. Make sure you understand the terms and conditions of your new card.\n-----------------------------------------------------------------------\nTerms and conditions can vary from card to card, so dig into the details to make sure you're using your card properly. First, you need to know what your APR is, both for balance transfers and new purchases. These rates may differ, and knowing each could help you save money. Just because a card has a 0% APR on balance transfers doesn't mean it has a 0% APR on purchases. And vice versa.\nAlso, consider not using your card for new purchases. If you dig into the terms, some balance transfer cards actually specify that if you transfer a balance, any new purchases you make will be charged interest unless you have a special 0% APR offer on purchases. Even if you pay your new purchases in full before the end of the month, some cards will still charge you interest unless you pay your entire balance (including the balance transfer) before the end of that pay period.\nFinally, look for any fees associated with transferring balances. Balance transfer cards typically charge a fee of 3% to 5% on the transfer amount, with some stipulating a minimum charge, such as $20.\nYou could lose your introductory rate in certain circumstances, such as paying your bill more than 30 days past the due date, so read the terms and conditions thoroughly before you begin using your new card.\n> Find balance transfer credit cards in Experian CreditMatch™.\n3\\. Establish a repayment plan.\n-------------------------------\nOnce you've transferred balances to your new card, make a plan outlining how you'll get rid of the debt. Try to base your plan on how much time your new card allows you to carry an interest-free balance. If your card offers 12 months of 0% APR, for example, you might want to calculate how much you would have to pay each month to pay off your debt within the 12-month period. Check the details of your card agreement before crafting a plan.\nIf you're strapped for cash, pay what you can afford as long as it satisfies the card's monthly minimum. The bottom line: The more money you can throw at your debt each month, the faster it will go away.\n4\\. Make all your payments on time.\n-----------------------------------\nPayment history is the most important aspect of your credit score, and even one late or missed payment can have an impact on your score. Missing payments can also set back your repayment plan and cause you to incur costly late fees.\nIn addition, missing a payment could actually endanger the APR benefit that led you to get the card in the first place. Depending on the card, a \"penalty APR\" may be assigned, and your reduced APR could disappear. Make all your payments on time and be sure to check the terms of your card agreement so you know what to expect if you miss a payment.\n> Find balance transfer credit cards in Experian CreditMatch™.\n5\\. Don't close your other cards after you've transferred your balances.\n------------------------------------------------------------------------\nOnce you've transferred your balances to the new card, think twice before closing your other credit cards. Closing a credit account can reduce your credit history, which can impact your credit scores. It can also cause your credit utilization ratio to increase because you may be using a higher percentage of your available credit with fewer cards—another factor that might lower your credit scores. Unless you are having trouble affording the annual fees, try keeping your credit accounts open—but not using them.\nBalance transfer credit cards can offer a great way to help you pay off debt while also saving you money, as long as you use them wisely.Balance transfer credit cards can offer a great way to help you pay off debt while also saving you money, as long as you use them wisely. END