credit card shuffle is a very smart way to place your credit card debts under your thumb so that they are most manageable. “Manageable” in this context means you get to have the most effective ways of paying them off at the best interest rates in the most feasible pay-off time frames.

Is this even possible? The answer is, of course, it is.

What exactly is a Credit Card Shuffle?

Basically, then a credit card shuffle is the act of enrolling to a new credit card company and transferring your outstanding balance into that new credit card in order to benefit from lower interest rates and more manageable repayment “grace periods.”

The aforementioned interest rates and pay-off benefits of credit card shuffle comes in, basically, by “shuffling” credit cards.

This debt repayment resort is done by applying for a new credit card and transferring some or all of your balance into that new credit card.

In the event that your enrollment for a new credit card is successful, the new credit card company will “pay-off” the balance you owe to your previous credit card company. This time instead of owing the money to the previous company you will now repay the debt to your new credit card company.

Things to Consider when doing Credit Card Shuffle

The factors to count in to effectively get that foresight of your shuffling success mainly revolve around three things. These three things are…

1. How much balance you will transfer from your existing credit card to the new one? Eye on the areas which you are most likely to lose repayment control such as those with rising APR and/or those with sky-rocketing effective APR. Also, consider leveraging free balance transfer fees by applying for a long-term credit deal. However, get around a repayment plan so that you can pay-off the balance as soon as possible.

2. Your new credit card’s APR. Most companies offer their new clients the benefit of zero APR for the first 6 months. See if these 6 months of 0% APR will actually save you a significant amount in comparison to how much you will be paying for this portion of the dues in the existing credit card.

3. How much will you be able to pay your new credit company for the balance you have transferred? The length of time it will take for you to repay the balance you have transferred will greatly increase your chances of breaking free from your exiting and your new credit card’s interest rates. Also, being able to repay the credit faster, as in being able to settle the balance before the zero APR period expires, will enable you to slash a huge amount off of repayments and interests.

The secret behind the success in getting the most out of a credit card shuffle lies in getting your repayment priorities straight and having the patience to look around for that credit card company who will help you maximize your credit card shuffle benefits.

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54 thoughts on “What is a Credit Card Shuffle?”
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