 TITLE: How to Do a Balance Transfer CONTENT: What to Do After You Make a Balance Transfer\n--------------------------------------------\nOnce your balance transfer is complete, follow these steps to help pay off your debt and improve your credit score.\n*   **Keep your old card open.** It's best not to close your old credit card, even if there's a zero balance and you don't plan to use it in the future. Closing an existing card will reduce the amount of credit available to you, which could cause your credit utilization to climb and result in credit score damage. Instead, put the card away somewhere safe so you won't be tempted to use it.\n*   **Make a payment plan.** Commit to paying off the transferred balance before the introductory period ends. The easiest approach to this is dividing your balance by the number of months in your introductory period and pay that amount each month. Treat this payment as non-negotiable, like a car loan, and before you know it, that balance will be gone.\n*   **Make all your payments on time.** To prevent credit score damage and other penalties, do not miss a payment on your new credit card. It may help to set up monthly automatic payments so you never have to think about it and never miss a payment—especially if a late payment will cost you that 0% APR.\n*   **Refrain from using your new credit card.** It can be tempting to start buying stuff with that shiny new card, especially if you can earn perks like cash back or a sign-up bonus for doing so. But piling more debt onto a card that you're trying to pay off will require bigger monthly payments in order to get out of debt.\nOnce your balance transfer is paid off, you can keep credit card debt from creeping up again by reviewing your budget for ways to spend less and save more. If you have other debts after your balance transfer is paid off, take the amount you were putting toward your balance transfer card each month and use it to pay them down. END