Carrying credit card debt at an average 22% APR can cost over $1,300 annually in interest. Using a balance transfer card with a 0% introductory APR for up to 21 months, like the Citi® Diamond Preferred® Card, allows payments to go directly to the principal, saving roughly $1,375 and shortening payoff time by about four months. This strategy is best for disciplined payers with good credit and can significantly reduce the cost and duration of debt repayment. Balance transfer fees apply but are outweighed by the interest savings.
Wells Fargo and Citigroup are the only U.S. megabanks with room under the 10% national deposit cap to acquire large regional banks, though neither has made a move yet. Wells Fargo's CEO is open to transformative deals, while Citigroup focuses on orga...
After paying off credit card debt with a balance transfer card, it's advised not to close the card. Closing cards can lower your credit score by reducing your total available credit and increasing your credit utilization ratio, as well as shortening ...
