Just off the phone with my niece. She is in a tough situation. Her husband was in charge of finances and he allowed credit card balance to reach a high (but reasonable) balance. She caught it before it got too far out of control.
She asked for advise. Can she transfer the balance to another cc and avoid interest payments for a certain period of time? I couldnt answer as CC balance has never been an issue for me. Promised her i would check on it and advise.
So...is that legit? She figures the balance can be paid off in about 12 months, perhaps 15. The elimination of interest would help.
Sounds too good to be true? Is it?
We had a very good discussion on elimination of such debt and how to say "NO!" to unneeded expenses. I believe she can do it. She trusted her husband but is now focused. No moral lessons needed here, just advise.
Thanks,
Ed
She asked for advise. Can she transfer the balance to another cc and avoid interest payments for a certain period of time? I couldnt answer as CC balance has never been an issue for me. Promised her i would check on it and advise.
So...is that legit? She figures the balance can be paid off in about 12 months, perhaps 15. The elimination of interest would help.
Sounds too good to be true? Is it?
We had a very good discussion on elimination of such debt and how to say "NO!" to unneeded expenses. I believe she can do it. She trusted her husband but is now focused. No moral lessons needed here, just advise.
Thanks,
Ed
Statistics: Posted by MP173 — Tue Aug 06, 2024 2:38 pm — Replies 0 — Views 18