Debt Free

Debt Consolidation Reddit – Balance Transfer Cards 101: Everything You Need to Know


Debt Consolidation Reddit – How to Choose

Learn more about Balance Transfer cards: [ Blog Post ]
📈 Get 2 Free Stocks on WeBull when you deposit $100:
Click “Show More” to see Ad Disclosure
Try Plastiq and get $500 in fee-free dollars after you spend $500 (referral link):
💰 Get $10 in Free Stock:
Keep your cards organized: Filmed on this:

Check out Dumb Money LIVE:

Advertiser Disclosure: Some of the card links and other products that appear on this website are from companies which AskSebby will earn an affiliate commission or referral bonus. AskSebby is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies or all available credit card offers.
The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available


📈 Investing Apps:

Get 2 Free Stocks on WeBull when you deposit $100:
💰 Get $10 in Free Stock:
Invest for Free with M1 Finance:

Frequently asked questions about camera:

Camera Gear:
Lav mic:
Bendy Tripod:
You’ll need this for the bendy tripod:
Music I use in videos:

Useful stuff:
🍔 $7 Off your first DoorDash order:
Best headphones for travel:
Card organizer:
Need new luggage? Get $20 off your first Away luggage (referral link):
Promo automatically applied at checkout after you create an account.

Support our channel by shopping on Amazon!


Follow us for updates:
YouTube Subscribe:
Mandy’s YouTube:
Mandy’s Instagram:

Thanks for watching the Debt Consolidation Reddit video!

Watch the Debt Consolidation Reddit video on Youtube



  1. Wolf Pack Gaming
    July 31, 2021 at 12:42 am

    What is the difference between a balance transfer and a cash advance?

  2. sodokoo batsukh
    July 31, 2021 at 12:42 am

    The link for the 2 free stocks?

  3. jack Johnson
    July 31, 2021 at 12:42 am

    So this is for people who don’t pay their balances in full huh?! Don’t make that mistake in the first place. Pay your shit off in FULL. I have 6 CC’s and always keep it paid off. If i can’t buy it in cash, I’m not buying it on credit card either.

  4. Sah
    July 31, 2021 at 12:42 am

    Is this worth it if you’re only 7k in credit debt? For me it’s alot I’m always below 4K 🤨 shout out covid!! But it’s giving me anxiety, I was thinking going with the citi diamond preferred card. CK thinks I have outstanding chances for approval. But is it worth the 3% they charge 😫

  5. Keefe Hurdle
    July 31, 2021 at 12:42 am

    Can you transfer a balance from another person card to yours?

  6. Keefe Hurdle
    July 31, 2021 at 12:42 am

    can you transfer a balance that is over your card limit. ex. can i transfer a $4k balance over to a card with a limit of $1k?

  7. Lynox Royal
    July 31, 2021 at 12:42 am

    Can I spend $200 with a credit card, then use another card to pay that credit card to get my initial limit back? Is this still considered a balance transfer?

  8. Mitchell Waldrep
    July 31, 2021 at 12:42 am

    Citi Diamond Preferred is now $5 or 3%, so they reduced the percentage by 2%.

  9. Nol Sova
    July 31, 2021 at 12:42 am

    I was going to do this but my credit utilization is over 50%😭😭

  10. Arlett Benitez
    July 31, 2021 at 12:42 am

    I need help I want to open a credit card to maintain my credit score high due to some of my accounts being closed “those accounts that are closing are my student loans” help thanks !

  11. wha-where yo mama stay at Vlad?
    July 31, 2021 at 12:42 am

    "I don't think wells Fargo is doing anything shady" 😆😆😆 wells Fargo creates 2million fake accounts

  12. Mr. ME
    July 31, 2021 at 12:42 am

    Would a personal loan or card balance transfer be better overall? I have found that personal loans are better and quicker to get approved if needed. What are your thoughts?

  13. Rose Rose
    July 31, 2021 at 12:42 am

    I had been in pain ever since, but when I came to know about klaxonstools. They have been getting me money

  14. Lea
    July 31, 2021 at 12:42 am

    Definitely should have looked into Apple credit to see if they offer balance transfer. It’s a learning lesson to read every word in the damn terms of service because it’s hard for me to pay it off.

  15. Yvonne Castillo
    July 31, 2021 at 12:42 am

    Thank you this was very helpful.

  16. Kevin Edwards
    July 31, 2021 at 12:42 am

    If I missed my introductory rate, can I request 0% on a balance transfer?

  17. MPS9
    July 31, 2021 at 12:42 am

    Just got a balance transfer card as I have 3 credit cards. I clicked ur video first and very happy with the understanding I’ve just received. So thank you. P.s. my apr is above 35 lol (dammm) I’m sure I can stay on top of it tho.

  18. I755o
    July 31, 2021 at 12:42 am

    LOL 7:33

  19. Calinava
    July 31, 2021 at 12:42 am

    My balance transfer card had a limit of $3,000, do I leave room for the transfer fee or do I just transfer the whole $3000? Or transfer $2700 and wait for them to add the 3% fee

  20. MoneywithMoni
    July 31, 2021 at 12:42 am

    I recently posted how I used $25k in balance transfers to pay down my mortgage. I'm almost done paying them and can't wait to redo the process. Great video

  21. Kevin Lafayette
    July 31, 2021 at 12:42 am

    What are the specific rules? Interest free for 10 months; why is there still a minimum payment every month? CIBC (Canadian Imperial Bank) Do I need to pay that? Up front fee is easy to understand. What about interest going back to the beginning, if you miss that end date? Do banks do that?

  22. Max Alaska
    July 31, 2021 at 12:42 am

    It’s crazy how the 3 credit cards on the thumbnail are the exact same ones i own lol,

  23. Crystal White
    July 31, 2021 at 12:42 am

    Thank you for the very knowledgeable information.

  24. Dawn V
    July 31, 2021 at 12:42 am

    Thanks for the info, very helpful! What do you recommend for students?

  25. Amber Masloski
    July 31, 2021 at 12:42 am

    Thank you for the warning of utilization. Although I would love to transfer my balance to a card with 0% apr I am at 47% between my cards. Even though I have a great credit score I’m thinking I should pay down the balance before having them even run my credit for another card.

  26. Ally Celebrates
    July 31, 2021 at 12:42 am

    HA HA, I like this video but it's free to do that!

  27. Kevin Edwards
    July 31, 2021 at 12:42 am

    Can you do balance transfer on business credit cards?

  28. B G
    July 31, 2021 at 12:42 am

    let say we transfer $10,000 to a new card that has 0% transfer for 18 months…if our payments is $300 a month and we miss the payment that month there is no interest charge just late fee correct?

  29. PG Plays Video Games
    July 31, 2021 at 12:42 am

    One thing not mentioned is that you should NOT use your balance transfer card for any purchases. Because you will be paying off your balance transfer for the period the low interest rate is active, you won't be paying off the higher interest payment

    So for example you balance transfer 5000$ and make a 1000$ purchase. In a year when you pay off your 5000$ you will owe the 1000$ plus a year's interest which could be as high as 25+%

  30. Jack Attaya
    July 31, 2021 at 12:42 am

    Does a balance transfer into your bank account, count as a cash advance typically?

  31. hieu le
    July 31, 2021 at 12:42 am

    I’m doing balance transfer and will continue doing this. However, there are some well-hidden terms you should know to avoid excessive interests.
    “The problem is that transferring a balance means carrying a monthly balance, and carrying a monthly balance—even one with a 0% interest rate—can mean losing the credit card’s grace period and paying surprise interest charges on new purchases. Here’s what you need to know about this potential situation and how to avoid it.” – from Investopedia

  32. john elton
    July 31, 2021 at 12:42 am

    it would nice to see a pay table to show how the balance goes down in increments, to show it practical terms , rather than in theory

  33. Don Sken
    July 31, 2021 at 12:42 am

    Great material.

  34. erin davitt
    July 31, 2021 at 12:42 am


  35. Josh Cruz
    July 31, 2021 at 12:42 am

    Which cards allow me to do a balance transfer into my checking account/ offer a balance transfer check? I notice most card mostly allow only to transfer from card to card.

  36. Rinyotsu
    July 31, 2021 at 12:42 am

    I'm planning on using a card I've already received to knock out my debt on my largest 2 cards interest free.

  37. John Macco
    July 31, 2021 at 12:42 am

    I've had a variety of cards for many years and they all use to fill my mailbox full of balance transfer offers monthly. They have stopped as of February 2020 maybe you could shed some light on this development. Or am i the only one. No change to my great credit.

  38. Colin
    July 31, 2021 at 12:42 am

    Good video. Thanks!

  39. Alejandro Gallego
    July 31, 2021 at 12:42 am

    Can you talk about that you should not use more than 30% of your credit limit for this balance transfer because you will take a big hit on your credit score.

  40. M0DFATH3R
    July 31, 2021 at 12:42 am

    I have a chase card with 24 percent interest ! So this makes sense for me

  41. Sarah Wilson
    July 31, 2021 at 12:42 am

    Credit unions often have zero fees for balance transfers.

  42. Aphrodite Aphrodite
    July 31, 2021 at 12:42 am

    My discovery doesn’t transfer my balance. Shitti bank. They tell me I have to wait for the promotion even thou I fully paid my $3000 balance at once. It’s been months i haven’t received the promotion for transfer

  43. coo3disk1
    July 31, 2021 at 12:42 am

    Thank You, I asked for this months ago.

  44. S Wise
    July 31, 2021 at 12:42 am

    So I got approved for a new card, and now I’m trying to figure out do I pay off the 0% interest balance transfer first & continue to transfer & pay down as quick as I can or do I let the 0% balance sit (pay minimum) because I have 20 months of 0% to spare and pay down the balance on the old card with interest??? 😩

  45. Dave The Serious
    July 31, 2021 at 12:42 am

    Citi can be a weird one. I've had a simplicity card for about 3 years now. Done multiple balance transfers on special offers. But it's the one card they would never let me product change. However about 2 months ago I got an email allowing me a special offer to product change into a citi double cash, which is the card I wanted anyways because the simplicity offers no rewards. It worked out for me but definitely try not to get locked into a useless card after the balance transfer period. Chase slate may also be like this.

  46. kingleo16
    July 31, 2021 at 12:42 am

    Question? I have a card which was my very first credit card when I started this. 10+ years. Should I cancel it? I'm asking because it is charging an annual fee now. After that long, never an annual fee til last year. I bearly use it nor does it provides any perks like points or balance transfer promos. Should I go ahead cut it or keep it active? I hate paying this fee, and it sucks to cut it due to what it means to my debt-to-credit ratio.

  47. Hans M
    July 31, 2021 at 12:42 am

    Capital One has a great offer that charges 2% fee and no interest for 12 months for balance transfers for current card holders. I usually wait for those when I need to make a major purchase like buying a computer or something expensive. I’ll make the purchase with another card that gives great points like any AmeX card then transfer it over to the CapitalOne. It’s important to only have the item as the only balance on the card. I also keep the Capital One card at $0 balance since they’ll constantly email you with these offers. I also get them from Discover/ Barclays/ Citi BUT Capital One is the best with the 2% fee.

  48. Anthony R
    July 31, 2021 at 12:42 am

    I have an odd question, I don't think I am actually going to do this, but I was hypothesizing. Could you use a balance transfer to for Auto lease/purchase to minimize interest paid? So, my car lease is coming to an end at the end of the year. It will be roughly $14k to purchase the car which is lower than some of my Credit Card limits. I was contemplating getting a Chase Slate to balance transfer lease to the car and keep making payments like I have been, and then as the 12 month 0% period comes to an end balance transfer to another card like the Citi Double Cash. The result is the $14k would be 0% fee and 0% interest for 12 months and then 3% fee on the remaining balance with an additional 18 months 0% interest. Like I said, I don't think I will actually do this, but it was fun to think about, and I was curious on your thoughts.