Escape Holiday Debt with a Balance Transfer

We’ve got some good news if you’re overwhelmed with holiday debt! With the holiday season in the rear-view mirror, it’s time to confront those credit card balances and plan how to pay them off.

A balance transfer might be just what you need to get back on track. Here’s why:

Lower interest rates:

The biggest perk of a balance transfer is that it can lower the interest rate on your holiday debt, which means you’ll save money in the long run.


Transferring multiple credit card balances to one card can make it easier to keep track of your payments and avoid missed payments. Plus, you’ll only have to worry about making one monthly payment!

Improved credit score:

Paying off your holiday debt may improve your credit score, making it easier to get approved for future loans.

More control:

By transferring your holiday debt to a balance transfer card, you can choose the amount you want to pay each month, giving you more control over your debt repayment.

A fresh start:

A balance transfer can give you a fresh start to help you get out of holiday debt and get your finances back on track.

Now that you know why a balance transfer might be the perfect solution for your holiday debt, let’s discuss how to avoid common pitfalls.

Read the small stuff:

Make sure you understand the terms and conditions of your balance transfer card, including the introductory rate, any balance transfer fees, and the rate after the introductory period.

Don’t overspend:

Just because you have a lower interest rate doesn’t mean you should go on a spending spree. Use the balance transfer card only for debt repayment and avoid taking on more debt.

Pay on time:

Late payments can result in higher interest rates and damage your credit score, so make sure you pay your balance transfer card on time each month.

Keep track of the introductory period:

Know when the introductory rate is set to expire and make a plan to pay off the debt before that date, or you may be hit with higher interest rates.

Don’t close your old credit card accounts:

Keeping your old credit card accounts open can improve your credit utilization ratio and help improve your credit score.

Prospera Credit Union is here to help you with your holiday debt! We offer personalized service, great interest rates as low as 1.99%*, and balance transfer options to help you get out of debt and back on track. Book an appointment with a Branch Partner today, and we’ll help you get started!

Don’t let holiday debt stress you out any longer. Take control of your finances today with a balance transfer, and start the year off right!

Ready to escape your holiday debt?

*For first 12 months from opening account.