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Abound Investment Services logo

Jeffrey Schriner

Financial Advisor

 

Abound Investment Services

Located at Abound Credit Union

1650 Ring Road, Elizabethtown, KY 42701

 

Phone:  270-765-8659

Cell:      502-376-0383

 

 

Email: jeffrey.schriner@cunamutual.com

Website: AboundCU.com

Spring 2021

Balance Transfers and Your Credit Score

Eliminating credit card debt is not always easy. But consolidating credit card balances on a new card with a low promotional rate could save you money.


Here are some tips for consolidating credit card debt that will potentially boost your score.

  • Calculate the monthly payment you’ll need to make to pay off the balance before the introductory rate ends.

  • Don’t cancel your old cards. In addition to eliminating your credit history, closing accounts reduces your available credit. Both can have a negative impact on your credit score.

  • Avoid charging purchases to your old cards unless you can pay off the balance each month. People often fail at debt consolidation because they run up new debt.

CBSI-3425538.1-0121-0223


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Representatives are registered, securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, which is not an affiliate of the credit union. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. Abound Credit Union and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

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