Interest Free Balance Transfers

A credit card is a big financial tool for the modern urban life. It is in simple terms a kind of cash which is more convenient to use and carry than providing consumer protections under federal law. As the economic pace is slackening and slowing down, a number of card holders are looking to make way for lowering their monthly expenses. Credit card balance transfers facilitate transfer of all the credit card balance to a single account of credit card. But the main factor that plays a very important role in making such decisions of transfer of balance to and from credit cards is the rate of interest that it charges.

An article published in Credit Cards Magazine says that the profits for the credit card companies were the highest in 2004. However, it is quite understandable that that the credit card market has reached a point of saturation. Therefore, it can be very well assumed that an account often gets closed for the opening of another one. So for the credit card companies it is always desirable to open a new account on almost every occasion and every opportunity. Most of these companies offer free interest balance transfer facilities for those interested to transfer their balance. Many of these are called 0% APR. But most of the time the zero percent interest does not last for a long time; these offers are generally put forward to attract the potential customers to transfer their balances to the new credit account.

But in the earlier days it was not so. Usually the rate of interest for such cases was at least 18%. Low interest rates and 0% introductory rates for balance transfers have been in process for not much time, but thanks to the competition of various companies, they all have set such interest free schemes.

Balance Transfers provides detailed information on Balance Transfers, Credit Card Balance Transfers, Card Credit Interest Balance Transfers, Interest Free Balance Transfers and more. Balance Transfers is affliated with Guaranteed UK Credit Cards.