Take Control of Your Credit Card Debt

Friday, March 22 at 12:00 AM
Category: Personal Finance

Whether you have a high credit card balance or feel like you’re barely chipping away at the interest, debt can be overwhelming. One way to manage credit card debt is by transferring your balance to a different card with a lower interest rate. Over time, this could reduce the amount of interest accrued on the account as you continue to pay off the principal balance. 

What is a balance transfer? Simply put, a balance transfer is when you move the balance from one credit card to another in order to reduce the amount of interest accumulated on the account each month. While the best way to avoid interest is to pay off the full balance of your credit card each month, balance transfers are helpful when you’re unable to pay off the entire amount owed.

Do Your Homework. When considering a balance transfer, make sure you research the following:

  • Introductory APR periods
  • Applicable fees
  • Transfer amount limitations

Most importantly, you’ll want to establish a firm plan to make regular payments on the balance once it’s transferred.

Take Advantage of this Balance Transfer Opportunity. The Arvest Personal Credit Card provides new cardholders with a 0% Introductory APR* on purchases and balance transfers for 12 billing cycles. After that, rate will be based on credit worthiness - 14.65% to 21.00%*.

Existing cardholder? Call us at (800) 356-8085 to learn more about balance transfers today! 

Disclosure:

*Introductory Rate: 0% introductory Annual Percentage Rate (APR) is valid on purchases and balance transfers for 12 billing cycles from date of account opening. After that, the APR for purchases, and balance transfers will be based on your creditworthiness (between 14.65% and 21.00% APR) and will vary based on the prime rate. The APR for cash advances will vary based on your creditworthiness (between 14.65% and 21.00% APR) and will vary based on the prime rate. The transaction fee for cash advances and cash equivalent transactions is the greater of $4 or 4% of the transaction. Foreign transaction fee is 1% of each transaction in U.S. dollars. Rates apply to new accounts only and are accurate as of January 8, 2019. Subject to credit approval. Additional limitations, terms and conditions may apply.

Tags: Financial Education
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