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Balance Transfer to Blue Sky Blue Sky®


Blue Sky
Intro APR: 0%

 Issuer: American Express
The Sky's the Limit with Blue Sky
Blue Sky from American Express is a credit card designed to unlock the world of travel rewards. Blue Sky gives you the freedom to save on any flight, hotel, rental car, or cruise-at any time, without blackout dates or travel restrictions.

You earn 1 point for every dollar you spend, and you can use the points for cash savings up to the full cost of your travel purchases, even after you make your best deal.
  • Save $100 with 7,500 points
  • Save $200 with 15,000 points
  • Save $400 with 30,000 points, and on and on
Of course, Blue Sky gives you flexibility and independence, too. You can pay for your purchases in full or over time. There's no annual fee, a grace period of up to 20 days, and you'll get a 0.00% Intro APR for the first six months.

Your charges are covered by American Express' Fraud Protection Guarantee.
Use the American Express® Card online or off, and you won′t be held responsible for any fraudulent charges. Period. No fine print, no deductible – just pure protection, so you can shop with confidence.




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Your home can serve as a source of cash. You never know when time comes when you will need cash to pay off a personal debt, to improve your home, to pay for college tuition or to pay medical bills.

There are different ways to go about getting the cash. You could use your home for a home equity loan where you use your home as collateral to borrow money and pay a steady amount with consistent interest rates at a predetermined time span. You may also use lines of credit and pay varying amounts depending on what you have already paid off your outstanding balance.

Both home equity loans and lines of credit offer lower interest rates than first mortgages and are tax-deductible. That is why these have been the preferred modes of borrowing cash.

Another way is through refinancing, which is discussed here more comprehensively, as it turns out to be more advantageous for a lot of people. This is similar to home equity loans because you also use your equity to obtain cash. The difference is that with refinancing, you totally pay off your first mortgage and you get cash as well, while in home equity loans, you remain in the same debt payment terms as before.

Refinancing has been the best option for others where the client refinances the first mortgage by making another loan and receives an amount equivalent to the difference between his old debt and new debt before it is foreclosed.

“Cash-out refinancing” is applicable when there is a drop in mortgage rates and a surge in the value of properties.

As an example, your house cost $150,000 when you bought it a few years ago and have paid of $40,000, you now owe only $110,000. However, the value of your home has doubled to $300,000 since then. You can now go for cash-out refinancing for $200,000 and pay-off the $110,000 that you owe and have $90,000 in cash. This is only advantageous for you if you could afford paying off a $200,000-loan.

This is highly beneficial when mortgage rates have fallen since your first mortgage and now you will get a lower rate for refinancing. Interest rates will be lower accompanied by lower monthly payments.

Using home equity rates or refinance for various plans and investments is always considered a low risk loan for the loan companies and this is why you will face relatively low interest rates and many tax benefits, this is also a reason for you to consider taking a home equity loan or home equity refinancing plan.


  • Transfer your balance to Blue Sky®

  • What is a second mortgage?

    More commonly known as a home-equity loan, a second mortgage is a secured loan that allows homeowners to borrow against the equity of their property. These loans are very useful if you need to do any major repairs to the home or if you need to make add-ons to your home.

    How much am I allowed to borrow?

    The amount of money you are allowed to borrow is based on the market value of your property minus the balance of your previous mortgage. For example, if your property has a market value of $300,000 and you still owe $200,000 on your first mortgage, you will have a $100,000 equity credit line. You would then be able to borrow up to this amount.

    Why would you borrow from your equity?

    There will be times when you would need a large amount of money, whether it is for home improvement reasons, buying new appliances or maybe even for medical bills. Getting a home-equity loan is far better than using your credit cards to pay for these things.

    Since this type of loan is secured, the interest rates will be much lower than those of credit cards. The interest rates you pay on a second mortgage can also be tax deductible for some people.

    What are the payment schedules of the loan?

    There are two types of home-equity loans. They differ in terms of payment schedule. The first type is called an open-end loan. This type of loan has a payment schedule of up to 30 years with a variable interest rate. The minimum monthly payment can be as low as the interest due that month.

    The other type of loan is called a closed-end loan. This type of loan has a fixed interest rate, and can have an amortized payment schedule of up to 15 years with a three- or five-year balloon payment. When the balloon payment is due, you will then be able to either pay off the balance or refinance.


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  • Tired of high charges? Find the best database for credit cards! Read the fine print and find the Annual Percentage Rate (APR). This is the interest rate the companies charge you if you carry a balance. You want the lowest rate possible; as each percentage point drop will save you money on the months you have an outstanding balance.