All VyStar Offices will be Closed on January 21, 2019, Martin Luther King, Jr. Day
If you have accumulated substantial debt on a credit card with a high interest rate, a balance transfer may help you save money and bring you one step closer to paying off your obligations. A balance transfer occurs when you pay off the balance on your existing credit card or loan by transferring it to another credit card account, perhaps with a lower interest rate. That way, you can potentially save money on interest as you pay back the original amount you owe.
Another benefit of a balance transfer is it simplifies your payments. Rather than juggling multiple maxed-out credit cards and their payment due dates, minimum payments, and late fees, transferring your balances to one card means that you only have one monthly payment to track. You can also transfer other types of debts to your low-interest credit card, such as furniture and appliance loans.
At VyStar, you can complete a balance transfer by visiting any branch location or contacting the Call Center at (904) 777-6000 or 1 (800) 445-6289, option 9. You can also complete balance transfers on our website, www.vystarcu.org, by following these simple steps on your laptop or mobile device:
(Note: If you do not have a VyStar credit card, you will first have to apply for one before following the instructions above.)
There are a couple of things to consider before switching to a different credit card using a balance transfer. When considering your credit card options, carefully compare their rates and fees to ensure the card you select makes sense financially. Just because a particular card may offer a lower rate, that doesn’t necessarily mean it’s the best deal: You also need to factor in any applicable fees. For example, in some cases you may be charged a transfer fee, which is typically a percentage of the transfer balance—a potentially large amount. Nowadays, many cards don’t cap their transfer fees, so the more money you transfer, the more you have to pay in fees. At VyStar, our members don’t just have access to great interest rates; you also don’t have to pay any transfer fees.
To find out if a balance transfer is the right financial solution for you, stop by any VyStar branch for a financial assessment or get the help of an experienced VyStar representative by contacting our Call Center at (904) 777-6000 or 1 (800) 445-6289, option 9