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If you have a personal or student loan, you can transfer that debt to a credit card with 0% interest while paying off your original personal or student loan. Before you consider using this strategy, you should have a decent credit score; at least 700 and above.
They can then initiate the pay off and transfer on their end, with the same result of your credit line being drawn upon.
Please be wary of using balance transfer checks as there can be a lot of hoops to jump through.
That might sound a little crazy, but Sandy Smith of Yes I am Cheap has successfully negotiated her balance transfer fee down a few times and highly recommends others do the same. Stephanie from Six Figures Under used this strategy to pay off student loan debt as well, and recommends calling and asking for a better rate if you’re unable to receive a 0% APR offer (some credit card companies offer 1% – 2%).
What happens after you write a balance transfer check?