Can't Pay Your Credit Card? WATCH THIS! #creditcards #credithacks #balancetransfer

Jorge Contreras | Airbnb Arbitrage May 9, 20230m 58s562 viewsScore 75
Pricing & Profitability
beginner
Expenses
Profitability
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Summary

AI-generated

Jorge Contreras shares a strategy called balance transfers to overcome high-interest credit card debt. Balance transfers involve moving high-interest debt to a credit card with a 0% promotional interest rate, which can be interest-free for up to 21 months. With balance transfers, hosts only have to pay 1% of the principle to stay in good standing.

Key insights

  • With a balance transfer, you may only need to pay 1% towards the principal balance monthly to maintain the 0% interest rate.

Tools & resources

  • Bank of America Cash Rewards Mastercardtool

    This card may offer promotional rates suitable for balance transfers.

Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial