One of the first things that you need to do when trying to find out how to transfer credit card balances with bad credit is to try to get all your credit card balances on one credit card so that interest does not cut into your payments. 

The step outlined above is even more important if you find yourself struggling to keep up the minimum payments on your various cards.

When asking the question ‘How to transfer credit card balances with bad credit?’, one of the questions within that question is ‘What type of credit card accepts bad credit balances?’.  The answer to that is a balance transfer credit card.

With a balance transfer card you can transfer your various debts onto one account and reduce your monthly credit card payments.  The benefit of this is that more of your money would be used to pay off your capital and there would be less chance of you missing a payment. 

When choosing a new balance transfer card you need to know the following:

Your credit score

You can apply to one of the credit bureaus to get this information and when you receive it check the credit bureau information to find out the estimated interest rate levels to expect based on your credit score.

List of Balance Transfer Credit Cards

Select a list of balance transfer credit cards and compare the balance transfer period and the reversionary APR rate after the introductory period.  An example of this is listed below.

Ideally a 0% APR on balance transfers would be best, to avoid unnecessary charges at this point.  If there is a balance transfer fee, be sure to factor this into your monthly payment and see if you would be better off despite the extra charge.

Required Credit Score

One you compiled a list of the most attractive credit cards; you would need to find out what credit scores these credit card providers accept.  This would save you time as you would not apply for balance transfer credit cards for which you would not be accepted based on your credit score.

Websites such as financeglobe.com have a useful tool that allows you to enter your Fico credit score and a list of cards that accepts that score would be produced. It also gives you the acceptance rate as a guide.

Once you decide on the card that matches your credit score, proceed to application, but ensure you read the fine print when it comes to balance transfers.  Some credit card companies would transfer balances automatically for you once you provide the required details, others send you out a balance transfer pack after three weeks. 

It is important to know exactly what to expect to avoid any surprises.

Depending on how bad your credit history is you should search out a credit card for bad credit that allows balance transfers such as the New Millennium Bank Platinum Visa® or MasterCard®

Armed with this information, you should now have everything you need to know, in order to determine how to transfer credit card balances with bad credit.