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Jenny Credit Preferred Card from American Express –

If you have a reward card and you have accumulated a huge debt, you may find the repayment difficult. Even if now, you are concerned about the refund of your balance, in the future you can go back to a reward credit card. The Jenny Credit Preferred Card from American Express is the solution for you.

The Jenny Credit card offers optional balance transfers

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If you want to transfer your balance when you apply online, you will enjoy a 0% interest rate on balance transfers for the first six months. You can transfer up to half of your credit limit or $ 7,500. The trap here is that there is a 1% charge on all balance transfers. On the other hand, it is a fraction of what you would pay if you have not settled your balance on a card that has a high interest rate.

Let’s look at an example that shows how to take advantage of this credit card with an APR of 0%. We will assume that you currently have a balance of $ 5,000 on a card with an interest rate of 19.99% and you make monthly payments of a minimum of $ 100. During the next six months, you will earn $ 495 in interest. However, if you need to transfer the balance to the Jenny Credit card, you must pay a 1% fee ($ 50) but you will not be charged interest for the first six months.

If you want to get a balance transfer credit card, you must have one goal in mind

If you want to get a balance transfer credit card, you must have one goal in mind

Pay off your balance by the end of the introductory period. This requires you to make six monthly payments of $ 841.67 ($ 5.050 ÷ 6). However, if you can not make these payments, it is always a good opportunity to pay as much as possible before you have to pay a higher interest rate.

The balance transfer option is not the only excellent feature of the Jenny Credit Preferred Card from American Express. This card is actually one of our favorite cash back credit cards. If the balance transfer option is not important to you, this card has a second introductory offer. You can accumulate a 5% discount (up to $ 400) on all your purchases for the first six months.

If you are focused on paying your balance for the first six months

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You will still be able to accumulate a 1.5% discount up to $ 100,000 on your expenses after the six month period. In addition, you will earn a 1.25% discount when you exceed $ 100,000 in annual expenses. There is no limit on the amount of rebate you can accumulate after the introductory period.

Ultimately, it is an excellent card for not only balance transfers but also for its discount rate. Pay off your balance now and receive a nice reward later. Note that this card has an annual fee of $ 79. If you are looking for a no annual fee card, there is also the Jenny Credit Card from American Express

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