Tip of the Day

Call your creditors and try and negotiate a lower rate. Assuming you have a good payment history, many credit card companies (and other lenders) will lower your rate if you ask. Just tell them you are planning on transferring the balance to a lower rate card. And would they like to match the lower rate. Research rates on Bankrate.com first so you are prepared, and not lying. There are plenty of low rate cards out there. If they won't match the rate, apply for a card at the new company and do a balance transfer.

Warning-some credit card issuers charge a fee to transfer the balance over, avoid them.