Today I went to the credit union at work to follow-up on previous blog that credit unions had better interest rate than do banks. Amazingly the articles that I've been reading are extremely accurate. Also, no penalties, and their rates are without regard to your BAD credit rating.
A friend of ours has Discover Card and their rate is 29.99 % not including penalties and other charges. Imagine having to pay only 11.9 % even on balance transfers up to $10,000. That's about 2/3 less. One could continue to pay what they were paying on that bank card (a.k.a. bad debit) and pay off that balance transferred in no time.
Discipline and consistency is the key though.
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