A Balance Transfer Could Save You Money

Are you someone who carries a balance on a high interest credit card? If so, you are like many other people in the United States. According to CreditCards.com, a survey conducted by the Federal Reserve found that 38% of all households carry balances on their credit cards. If you are a balance carrier, then a balance transfer may be a good idea for you.

The purpose of a balance transfer is simple. You open a new credit card that has a lower interest rate, and move your balance from your higher rate card over to the new card. Though you can think of it as your new card paying for the debt on your old card, it is important to note that a balance transfer does not mean that you are debt free. You are still obligated to pay off your credit card balance; it will just be at a lower interest rate.

Perks To Transferring Your Balance To A 0% Balance Transfer Fee Credit Card

  • A balance transfer makes your payments simpler.
    If you have maxed out multiple credit cards, or hold a balance on multiple credit cards, transferring your balance to a credit card with no balance transfer fee* can make your life easier. Transferring your balance means that you only have to remember one payment date, thus helping you to eliminate the possibility of accruing late fees. With a credit card Get a balance transfer on a credit card. 0% balance transfer feebalance transfer you will have just one card to keep track of, and only one payment each month.
  • Get out of debt faster.
    Transferring your balance from a high-rate credit card can help you get out of debt faster, as more of your monthly payment will be going towards the principal, not the interest. The money that you are saving in interest can then go towards additional payments on your debt to help you get rid of your credit card debt faster.
  • Save money
    The major reason that most people decide to transfer their balance to a credit card with a zero balance transfer fee is to save money. Transferring your balance to a credit card with a lower interest rate will save you money in the long run.

After reading about the perks of transferring your balance to a lower interest credit card, you may be ready to jump right in. That’s great, but the biggest thing to take into consideration when deciding if a balance transfer is right for you is fees. Ideally you would want to transfer your balance to a credit card with a no balance transfer fee. Launch FCU credit cards offer a 0% balance transfer fee*, which is ideal for the balance carrier. In addition to potentially saving money in interest each month with a credit card balance transfer to Launch FCU, you will soon be able to gain rewards on your credit card purchases! For additional information on Launch FCU credit cards, click here.

If you would like to speak with a loan specialist regarding your options for a 0% balance transfer to a Launch FCU credit card give call us, we would be more than happy to speak with you about your options. To apply online, click here.


APR=Annual Percentage Rate. The rate you pay will be based on your creditworthiness. If your risk profile puts you in a higher risk category your rate maybe higher. Rates shown are subject to change without notice. Foreign transaction fee of 1.00% of each multiple currency transaction in U.S. dollars and a 0.80% of each single currency transaction. For credit card disclosures, rates, and terms, click here.

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