Not quite ready yet to open a credit card due to some credit card debt you already have? If you are paying high interest on credit cards, your first step is to pay this off. The best way to do this would be to open a 0% introductory APR Credit Card for Balance Transfers. We want to ensure that you are paying down ANY and ALL debt before you jump into Basic Travel Strategies.
This is a VERY Important Step!
If you start spending money on credit cards and you are not paying them off each month, the plan will derail quickly. You will not have ANY cost savings on travel and it could hurt you in the long run. Check out our Top Balance Transfer Card Options. This will provide relief from the 15-25% Credit Card Interest Rates you may currently be paying!
Don’t quite need Airline or Hotel credit cards just yet? If you are looking for a Cash Back Credit Card, 0% intro APR or a Balance Transfer Card, we’ve got you covered with our Top Credit Card Offers.
Calculating your Balance Transfer
We suggest doing a balance transfer and then calculating how much you have to pay off and how much time you have. For example, say you have $5,000 in credit card debt and you got a balance transfer for 18 months. You would divide the 5,000 by 18 months to determine a monthly rate of $277.78 to pay off. I would probably round up to $300 a month and ensure you pay this EVERY month to get out of the debt. If you can afford more, pay off more.
If you are looking for additional guidance or individualized support, please reach out to us HERE. We are willing to help get you back on track first before moving forward with Basic Travel Strategies.
We have the best offers for 0% Balance Transfers for our readers through our affiliate above. Please review them and let us know if you have any questions about the specific terms & conditions. While you work on improving your credit score, be sure to check out our other articles to learn how to utilize credit card strategies. This way when you are ready to move forward, you’ll have some basic knowledge of the game.