Paying credit card interest on a huge amount of debt is the last thing you want to deal with at the end of the month. Although credit cards allow you to buy products and pay for services at a future date, the privilege does not come cheap. Often, it happens that you might get carried away and shop for more than what you can afford, ending up in a huge debt trap.
The debt has to be paid back within a stipulated time with interest. Failure to do so will affect your credit score and rating that will further affect your ability to borrow funds. A balance transfer is the only option at such a stage. You can convert your debt from a high-interest credit card to one that has no or minimum interest allowing you both time and opportunity to pay off debts at a future date.
Three key benefits of a balance transfer include a lower rate of interest, better credit terms, and efficient debt consolidation in the short term. However, you must also take into account the downside of a balance transfer as the temptation to consolidate debt time and time will spiral you into financial turmoil in future. A balance transfer is not always the cheapest option and you must keep an open mind to consider alternatives like borrowing from friends and family to pay off debt.
The best balance transfer credit cards to consolidate debt are issued only if you have a high credit score and a favorable rating. Your current credit score reflects your ability to pay off debts on time with all interest and dues.
If you are still keen on option for the best credit cards that transfer the balance of the debt, here are a few popular choices.
Citi® Diamond Preferred® Card
One of the best credit cards that transfer the balance of debt for a favorable period of 21 months at 0% APR. You will also enjoy 0% interest on purchases for the first 12 months. A variable APR will be applicable thereafter that ranges from 14.74% and 24.74% depending on your creditworthiness. There is no annual fee for the credit card but you will have to pay 5% balance transfer fee for each transaction with a $5 minimum mandatory.
Discover it® Balance Transfer Credit Card
An attractive 0% intro APR for a period of 18 months makes Discover it®one of the best credit cards that transfer the balance of debt to consolidate your finances. An ongoing variable APR will be applicable in the range of 13.74% and 24.74% on purchase and all debt. Discover It charges a meager 3% fee for every balance transfer and there are no annual fees for the credit card.
Blue Cash Preferred® Card
American Express comes to your rescue with the Blue Cash Preferred® Card, another option for a balance transfer. Note that in comparison to some of the best credit cards that transfer the balance of your debt for more than 18 months, Blue Cash gives you only 12 months. Blue Cash Preferred® Card entails a variable APR in the range of 14.74% and 25.74% after the introductory period is over. Moreover, a 3% balance transfer fee is applicable to the transaction with a minimum $5 mandatory. One of the major drawbacks of Blue Cash Preferred® Card is a hefty $95 annual fee.
BankAmericard® Credit Card
An affordable alternative as BankAmericard® has low upfront costs in comparison to some of the best credit cards that transfer the balance to consolidate your financials. The introductory 0% balance transfer is applicable only for the first 15 billing cycles thereafter which a variable APR in the range of 14.74% and 24.74% is applicable on the amount. The balance transfer fee on an individual transaction is 3% of the amount with a minimum $10 mandatory, whichever is greater. You don’t have to pay any annual fees for the credit card.
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FAQ’s on Social Security account answered
Read moreCreating a ‘my Social Security’ account not only helps you plan for your retirement, but it also has numerous practical benefits too. Prime among them are requesting for a Social Security card replacement and checking the status of your application/ appeal. Creating ‘my Social Security’ account is the first step in the process of applying for a Social Security card replacement online.
In case you’ve lost the card, a replacement may be needed in few instances where you need to show the card. In most cases, as long as you remember the number and quote it correctly, it’s enough. If you feel a replacement card is a must, ssa.gov website has all the pertinent information on procuring one.
To apply for a replacement card:
- The first step is getting the necessary documents in order. You are required to provide a document that proves your identity (driver’s license, passport or any state issued ID proof). All documents have to be originals or copies certified by the issuing agency.
- Fill the application (SS-5) and along with the original documents, send it by mail to your local office.
- The replacement card is delivered within ten business days.
Pertinent facts on card replacement:
- Your Social Security card can be replaced up to 10 times in your lifetime and up to 3 times in a year.
- These limits do not apply to legal name changes and modifications in immigration status.
- If you can prove that the card is needed to prevent a significant hardship (victim of domestic violence or identity theft), the limit is not applicable.
In growing number of states, a replacement request can be placed online as long as you’re not seeking a name change or any other change in your card. It is a safe and convenient process, and the information you enter is protected. Built in features can confirm your identity and detect fraud. Once the account is set up, just follow the simple steps listed to apply for a replacement card.
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Sjogren’s Syndrome- Causes and Symptoms
Read moreWith the progress in medical science, people are hoping that one day, even the most formidable of the diseases can be cured. When we know what causes that particular disease, only then can an antidote for the same be developed. There are still a plethora of diseases the cause of which is yet to be determined. However, though we are supposed to lead our lives with such long-term diseases, we can definitely take measures to control it.
Sjogren’s syndrome is one such disorder that the affected person has to learn to coexist with for their lifetime.
What is Sjogren’s Syndrome?
Sjogren’s Syndrome is an autoimmune disease that affects an individual when their immune system goes haywire and starts attacking the normal cells in the body instead of the bacteria and viruses that pose as the real threat. It is a lifelong disease, and since there is no proper method to cure Sjogren’s Syndrome completely, people resort to methods to adapt and coexist with the disease. Usually, Sjorgen’s Syndrome accompanies other autoimmune diseases like rheumatoid arthritis or lupus.What are the causes of Sjogren’s Syndrome?
Though the causes of Sjogren’s Syndrome remain a mystery, it has been identified that some bacteria or virus is known to trigger this disorder. It disrupts the functioning of the immune system, causing the white blood cells to attack healthy cells especially in the glands that produce saliva and tears. Even though the cause of Sjogren’s Syndrome remains unknown, the symptoms of the same become more prominent unless they are treated.What are the symptoms of Sjogren’s Syndrome?
- As mentioned earlier, Sjogren’s Syndrome causes the immune system to attack healthy cells and glands that produce saliva. As a consequence of the same, the production of saliva is affected. The individual suffering from Sjogren’s Syndrome experiences dryness in the mouth. The mouth has a chalky feeling, and he may experience trouble chewing and swallowing food. Also, the dryness of the mouth results in yeast infections.
- Sjorgen’s Syndrome also affects the glands that produce tears. This will leave the eyes dry. Dry eyes are more prone to burning and itching sensation. Unless this condition is treated with eye drops and other medications, it will affect the person’s cornea. If left untreated for quite some time, it can have an adverse impact on one’s vision.
- The effect of Sjogren’s Syndrome isn’t limited to the mouth and eyes; it can affect other parts of the body such as throat, skin, lips or nose. Also, since the immune system wages war against the glands in the body, there are chances that the glands in the face and neck might swell up.