close
So you took advantage of some of those credit repair credit cards with higher interest rates that will help you repair your credit? Or perhaps you missed a payment or two some time back and are now saddled having a fairly large balance on a high interest charge card. Maybe it was your first charge card, and you're still paying the rate of interest offered to those with no standing credit. No matter what the cause, you've got a credit card balance which you're paying interest rates higher compared to average, and you'd like to cut those monthly obligations. Welcome to the world of balance transfer charge cards. Balance transfer credit cards are charge cards that offer a special interest price on accounts transferred from another charge card. Essentially, when you take advantage of balance transfer charge cards, you're borrowing money on your new credit card to repay the balance on your old (higher interest) charge card, then repaying the new credit card company at a lower interest rate. 0% balance transfer rates have been a popular incentive for credit card issuers to attract business for the past many years. Lately, though, many credit card companies have discovered that offering 0% balance transfers is really a losing proposition for them as customers play charge card shuffle, moving their account balances in one card to another whenever the 0% rate of interest ends. In order to combat which practice, credit card companies are getting more creative using their balance transfer credit cards. That's why it's important to compare balance transfer credit cards to be certain you're getting the best possible deal - or a minumum of one that actually will save you money over time. Here are some things to watch out for when comparing balance transfer credit credit cards:
How long does the opening balance transfer rate last?
The 0% balance transfer rate of interest is usually an introductory rate. If you pay off the entire balance inside the introductory period - usually six in order to nine months - you pay no interest whatsoever on the amount that you've moved.
How much is the balance move fee?
Often, there's a charge for transferring balance from one card to another. Make sure to include that fee in your costs when comparing balance transfer credit cards.
What may be the interest rate AFTER the introductory time period ends?
The introductory rate may end eventually. How much will a person be paying in interest after this ends? Will that apply to the whole balance, or just the amount left in your transferred balance?
Are there other limitations?
The newer balance transfer charge cards offer other incentives than 0% rates of interest on your transferred balance, or can sometimes include restrictions to how long the balance must stick to the card. Many of the new balance transfer charge cards offer an interest free second 12 months, or a one-month free payment rather than 0% transfer fee in an effort to get around the credit card stability shufflers. When you compare balance transfer charge cards, be sure to make a note of any restrictions about the balance transfer offers.
So you can see you need to compare balance transfer credit cards to check on the best deal. With credit card comparison sites you will find all the latest no interest balance transfer charge cards, along with details so that you are able to compare balance transfer credit cards to be certain you're getting a deal that could save you money.
Jon Francis has been involved with various areas with the world of finance and it has a keen eye for a bargin! He's an in-depth knowledge of the credit card UK market and today helps others get the best from the credit card. To learn more visit http: //www. moneyeverything. com.
View this post on my blog: http://creditcard.valuegov.com/compare-balance-transfer-credit-cards-to-find-the-best-deal/
How long does the opening balance transfer rate last?
The 0% balance transfer rate of interest is usually an introductory rate. If you pay off the entire balance inside the introductory period - usually six in order to nine months - you pay no interest whatsoever on the amount that you've moved.
How much is the balance move fee?
Often, there's a charge for transferring balance from one card to another. Make sure to include that fee in your costs when comparing balance transfer credit cards.
What may be the interest rate AFTER the introductory time period ends?
The introductory rate may end eventually. How much will a person be paying in interest after this ends? Will that apply to the whole balance, or just the amount left in your transferred balance?
Are there other limitations?
The newer balance transfer charge cards offer other incentives than 0% rates of interest on your transferred balance, or can sometimes include restrictions to how long the balance must stick to the card. Many of the new balance transfer charge cards offer an interest free second 12 months, or a one-month free payment rather than 0% transfer fee in an effort to get around the credit card stability shufflers. When you compare balance transfer charge cards, be sure to make a note of any restrictions about the balance transfer offers.
So you can see you need to compare balance transfer credit cards to check on the best deal. With credit card comparison sites you will find all the latest no interest balance transfer charge cards, along with details so that you are able to compare balance transfer credit cards to be certain you're getting a deal that could save you money.
Jon Francis has been involved with various areas with the world of finance and it has a keen eye for a bargin! He's an in-depth knowledge of the credit card UK market and today helps others get the best from the credit card. To learn more visit http: //www. moneyeverything. com.
View this post on my blog: http://creditcard.valuegov.com/compare-balance-transfer-credit-cards-to-find-the-best-deal/
全站熱搜
留言列表
