Making The Most Use Of Your Multiple Accounts

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Balance Transfer Cards » Making The Most Use Of Your Multiple Accounts

Making The Most Use Of Your Multiple Accounts

The content is accurate at the time of publication and is subject to change.
People often wrongly regard the option of balance transfers to be something of a bane when it comes to their accounts. Hence, they feel that having such an option might severely hinder their ability to get loans or successfully maintain a positive balance. But, when used correctly, this feature can actually help in significantly reducing the debt that you might have to face. Therefore, it is highly recommended that you do give this a try before you can actually disregard it altogether. People have been able to maintain their credit scores solely because of this particular feature. Transferring money from credit cards Everyone knows how problematic credit cards can be, especially when the due date is fast approaching and you have no money to clear the credit account. Hence, if you have managed to use the credit card more than you should have, it might be feasible to try and transfer this huge balance to another account which doesn`t have to be reimbursed right away. Hence, in this manner, you can successfully cut down on the costs involved in terms of late payments and increased interest rates. With balance transfers, this is very much a possibility. Shifting money between accounts Sometimes, it might so happen that you need to have a greater amount of money in one account compared to the others. In such cases, you might need to have some way in which you might be able to transfer or shift money between accounts. Unless you are able to do so, it can be quite tough to manually draw money and deposit it in time for the check to not bounce. With balance transfers, money can be instantly shifted from one account to another without much problem. You can easily have the desired amount of balance without having to worry about your checks not getting cleared in time. Security If for some reason you feel that your account has been exploited by some scrupulous entity, you might need a place to transfer the money right away. Thankfully, balance transfers have the feature of transferring money when you feel like, which should provide you an option during emergency times to send your money to. Hence, rather than wait around like a sitting duck, you can actually do something about it and take necessary steps to safeguard your money. As you might have imagined, this is definitely a valuable feature to have, especially during emergency times. Therefore, it is safe to say that having the feature of balance transfers is not really such a bad thing. In fact, you can be in a better position to make use of your own money when you can shift it between accounts that you own. In this way, you will always have control of it no matter what the situation might be. Hence, the next time you are planning on opening a new account, it is highly advisable to get one which will provide you with the option of balance transfers.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

Autumn 2018: Best Rewards Credit Cards for Thanksgiving Shopping

Autumn 2018: Best Rewards Credit Cards for Thanksgiving Shopping

Posted: November 8, 2018

Thanksgiving is coming, and whether you are hosting a meal or coming as a guest, your spendings are going to accumulate faster than you can notice. A holiday feast is a costly matter – each year Americans spend around $50 on a Thanksgiving ... Continue reading
The Best Credit Card for Earning Cash: Discover it® Cash Back

The Best Credit Card for Earning Cash: Discover it® Cash Back

Posted: November 2, 2018

You’ll have hundreds of dollars in your pocket in no time because you’ll earn money back on every purchase you make with this card. There are no restrictions on the amount of cash back you can get, and Discover even matches every penny you ... Continue reading
Top 5 Cards for Travel from Our Partners: Autumn 2018 – Expert’s Choice

Top 5 Cards for Travel from Our Partners: Autumn 2018 – Expert’s Choice

Posted: October 10, 2018

Nights are drawing out, the wind is colder every day and you already feel the lightest breath of winter on your face - autumn is here. Holidays are over, kids are back to school and all you are left with are hefty holiday bills that you ... Continue reading
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!