Credit Card Consolidation refers to combining your various credit card debt into one monthly payment. Consolidation can simplify your multiple credit card account payments but does not erase your debt. Many credit card companies offer balance transfers with their credit card and usually offer an introductory zero percent or low interest for them as well. For that reason, it is important you understand how balance transfers function.

Small business checking. We offer services that maximize the value of your business.

Why you could consider a Balance Transfer to help consolidate credit card debt:

Consolidate to ONE Payment

Combining multiple credit card balances can help you focus on one payment with one due date instead of various dates and payments to track. Be disciplined and do not use that newly available credit. If you transfer your balance to a new card, then you now have more credit available to you. Try to not make any new purchases with your old credit card or you may end up with more debt.

Save Money on Interest

Changing the debt to a different credit card can potentially save you money on interest by choosing a card with a zero to low percent introductory APR. To avoid paying a higher interest rate on your balance transfer, understand the card’s qualifications to receive the promotional interest rate before you apply and know what the regular rate will be if you do not qualify.

Find Better and More Valuable Terms

Moving your balance to a new credit card with better and more valuable terms such as lower fees or credit card rewards could be another benefit for considering a balance transfer. Look for cards that offer low balance transfer fees and no annual fees. It is also recommended that you consider the full cost of moving your balance. You may end up paying less in the long run by staying with your old credit card.

Before you consider credit card consolidation, seek a card that offers low APR even after the promotional period ends and low balance transfer fees. Make sure you understand how a balance transfer could affect your credit score. By following these tips and understanding what the best options for your finances are, balance transfers could be a great tool to help you save money on interest payments, simplify your monthly payments, and help to pay off your credit card debt faster. Learn more about debt consolidation here. For more information on the Arvest True Rate Credit Card, please visit