Consolidating Credit Card Debt with a Balance Transfer

If most of your debt is on credit cards, a balance transfer may be the key to a brighter financial future. A balance transfer involves moving the balances of one or more credit cards to another card with a better interest rate.

If you choose a UW Credit Union credit card as the new home of these debts, you can transfer balances anytime. Most financial institutions charge a fee for these transfers.

To see if a balance transfer is the right choice for you, research this fee as and the interest rate of each card you’re considering. Also see if there are any special offers—for example, a rate discount—that could save you even more money.

As you think through your debt consolidation options, consider meeting with one of UW Credit Union’s financial specialists or scheduling a free credit consultation. Our friendly experts can help you determine which method—balance transfer, personal loan or refinancing —is the best fit for your life.