I paid off another credit card today, and I split a large balance from one card to two. A lot of people don't realize this can actually help when you're trying to control your debt and raise your credit score. It actually hurts your credit score to have one card with a very high debt amount that is close to your limit, and it can help raise your score a bit if you separate that large amount into two smaller ones that are not so close to your card limit. When looking for a card to transfer part of your debt to, you've got to pay attention to the features and benefits you will receive. Don't just fill out the next credit card offer you find in your mailbox.
It's always good to look for a card that offers you 0% APR for 6 months or a year on balance transfers. Most companies will charge you a fee for transferring the balance, but you won't accrue any interest on it for so many months. If you do plan on purchasing anything extra with your card, look for one that also offers 0% on purchases for a set amount of months. Also check out the benefits offered to you such as discounts on products and services, cash back on purchases, and fees waved for booking vacations through your card. If you want to see an example of some of these offers, check out Mint credit cards.
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