Am I Transferring a Balance?

I am looking to get my first "real" CC (right now, I have a check card that works to a degree like a cc) in order to consolidate some of my debts and pay off the remainder of my main line of credit (auto loan).
My question is; Is the transfer of my auto loan and another line of credit I received from a retailer considered a balance transfer? If not, then what kind of credit card should I look at getting in order to best consolidate my debt? Thanks in advance.

Most credit cards will transfer the money to your checking account and after it's up to you what you like to do with it, pay auto loan, or party out. Be careful on the balance transfer terms, because that could very well may spell a disaster if not understood the terms properly.

Try to get the card with no time limit to pay back the balance transfer and be very mindful of the transaction fees, usually they are 3-4% but some companies have a cap on this fee.

Good luch with your Credit Card Shopping !!

[Jeanie]

Yes, I agree, shop wisely!

Quote:

Originally Posted by Stllearnin

Is the transfer of my auto loan and another line of credit I received from a retailer considered a balance transfer?

What are they offering? Is it a Visa or MC? If it is, it could be a BT. If it's not, it's just a store card. BEWARE.

Read the T&Cs first to see if they have a BT fee.

i agree with Plastic-Lover.