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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





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.



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