Why do consumers continue to carry balances on high interest credit cards, store cards and other loans?
It's because loan products are sticky! Consumers have an insatiable appetite for cards offering points, miles and rewards even when these cards come with high interest rates, high annual fees and high balance transfer fees.
Paying off high rate loans with a lower rate loan should not be any more difficult than using a bill payment service.
But the products in the market today are loaded with transaction fees and balance transfer fees that make it expensive and inconvenient. As a result, many consumers who are eligible for lower rates remain on the sidelines and only use balance transfers as a last resort option to consolidate balances when the cost finally becomes unsustainable.
A modern bank should allow customers to conveniently transfer balances as often as needed to ensure the customer keeps balances on the most favorable loan product.
Balance Mover is a simple personal line of credit:
With Balance Mover you become the sticky account that high-priced lenders fear!
Call now for information about sponsoring BalanceMover.
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