Get the Best Balance Transfer Offer

You will probably feel that you will never get your debt paid off if your credit card balance is near the limit, and your interest rate has risen significantly. The number of credit card debts in the United States has increased because many families have problems with their credit cards.

A lot of families end up searching for solutions that can get them out from under the burden of owing a lot of money. You may have found a part of the solution to credit cards debt if you find a balance transfer offer that gives you a great deal on your interest rate. However, you need to be careful about how you go about the balance transfer solution.

You can transfer the balance from one of your credit cards to another through a balance transfer offer. Credit card companies often use this offer to convince consumers to sign up for their services. You will usually receive a balance transfer offer with an interest rate of 0%. You can benefit from this offer because you can use a balance transfer to get one card paid off, and to lower your payments on the balance.

However, jumping from card to card can also cause problems. For instance, you may be required to pay hidden fees. You need to find out if you must pay for the initial balance transfer offer before you sign up for one. Remember that the low interest rate may only last a few months before it jumps up to where it was on your last card.

You have to make sure that you look over any balance transfer offer as it comes in. You should not hesitate to contact the company to get specific information about the terms and conditions of their offer. If you can?t understand them completely, then you should ask them to speak in language you can comprehend. It would be wise to skip that balance transfer offer and move on to the next one if they seem unwilling, or seem to be giving you conflicting information.

Always keep in mind that a balance transfer offer may only be a temporary fix for your credit card problems. You may need to change your spending habits in order to clean up your debt. You debt may be caused by other factors other than your credit cards. Do not be afraid of looking into consumer debt help if you seem to be in a lot of trouble.

Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Balance Transfer Offer. Visit our site for more helpful information about Balance Transfer Offer and other similar topics.

Understanding 'Balance Transfer'

Balance transfer is shifting of the loan amount from one financier to another. You can do balance transfer to save money in paying interest as many balance transfer credit card companies offer loan for the first six or 12 months without any interest or fees. But if you are planning balance transfer, you should understand some fundamentals of the business. The annual percentage rates or APRs and the fees charged for such transactions matter most to your debt.

APR is the rate of interest you will pay to the lender for the balance transfer and for the amount you will owe him/her. APR is also charged to the user of the credit card for purchases and cash advance. You should understand the APRs if you are applying for a card or a loan. Most balance transfer card offer 0% APRs for 6 to 12 months with no transfer fees. After the introductory period, the card companies will charge the normal rate of interest on the debt amount. So it is advisable to transfer the debt to another loan or a new card that will help you save the interest money you pay to the loan. At the same time, you should know the APRs on purchases and the cash advance. If the card companies charging more for purchases and cash advance than what is prevailing at the market, you should not consider taking that card.

If you are applying for a credit card for balance transfer, you have to check the fees and other benefits the card companies provide to the users. Most card companies charge no annual fee for the credit card. But they will charge you if you are late in paying the amount you owe for purchases or cash advance. Besides, the card companies offer various benefits like cash back and discount in purchases made with card. So even if you are applying for a credit card for balance transfer, you should know what the benefits and incentives being offered with the card. There are insurance covers in each credit card. Some credit card companies offer travel benefits like concession in air ticket, rebates in hotels, restaurants, etc. So check and understand what they are before applying for the balance transfer credit cards.

The methods of calculating your balance also matter most in your debt and financial transactions. Even if the card is for balance transfer, check the card company?s method of calculating the balance. They use various methods to calculate the outstanding balance. The method can make a big difference in the debt you will pay back to the financier. Also get a card that will be accepted everywhere. Some credit cards have tie-ups with other companies and they facilitate purchases and cash advance anywhere in the country. Besides balance transfer, there will be a variety of use you can make with a credit card. So choose a card best suited to your needs along with the balance transfer.

There are hundreds of credit card companies providing balance transfer card. Some top companies are American Express, HSBC, Chase Bank, Discover Financial Services and Citibank of America. Card companies also offer standard credit cards, student credit cards, business credit cards, gas cards, airlines mile card, entertainment cards, store cards. Decide for what purpose you want to have a credit card and then apply as per the need. Bust almost all the credit cards have balance transfer facility but they charge different rate of interest so understand how they charge for balance transfer go for the one which will serve your purpose.

Before applying for the balance transfer credit card do some research in the website. Understand the terms and conditions of the cards. There are also finance magazines and newspapers where you can get the information on the balance transfer credit cards. The Federal Reserve System also provides information on the credit cards for balance transfer.

CreditMe.com is a free online credit cards review and application website. We offer credit cards selection from visa, master cards, discover, American express and many others. We have quite some categories and hundreds of credit cards selection to fit your need. Apply for a balance transfer credit card at CreditMe.com.

A Guide to 0% Interest Balance Transfer Credit Cards

Introduction

There are hundreds of different of credit card companies now offering the same old deal: Transfer your existing credit card balances to us and you will not have to pay a penny of interest e.g. 0% interest for 3, 6, 6, 9, 12 months or sometimes even longer. This was and still is a very good deal, however as long as you are aware that after this introductory period you will go onto a higher rate of interest typically from 10% upwards.

Consumer and Market Trends

Many consumers got wise to these introductory offers and just before they were due to begin paying their higher rate of interest would transfer their balance to another credit card which would offer them a similar deal, e.g. 0% APR on balance transfers for another 12 months. While a lot of people do this, a lot of people can?t be bothered with the hassle and just keep their balance where they are and pay the higher interest on the card they have always been with.

Balance Transfer Fees

Over the last 2 to 3 years, the credit card companies have grouped together and tried to come up with ways of preventing consumers from transferring from their credit cards and to remain with them and pay the higher rate of interest after the introductory period. This is typically called the balance transfer fee and can range between 2 and 3%. This means that should you decide to transfer your balance to a new card with a new introductory offer, then you will be charged between 2 and 3% of the amount you wish to transfer. Although this is an additional charge was non existent on the market several years ago, it is still probably well worth paying compared to keeping your balance with your existing credit card company and paying a high interest rate each month.

Conclusion

Also, bear in mind, the introductory rate for any purchases you make on your credit card is normally much shorter, so you will probably pay interest here too, however it all depends how much you spend on purchases and how quickly you pay it off what you have spent on purchases.

The only real way to get credit and pay limited amount of interest would be to take out a card with a descent introductory offer, try to limit how often you use it for purchases and pay it off within the introductory period.

It can be easy to run up debt with a credit card if you just look on it as you would your bank account, however if you try to look on a credit card as you would a loan, then you will find it to be a good value for money financial product.

Graeme Dick is an Editor for Credit Cards 365 further UK Credit Card advice is available.

Credit Card Balance Transfer Tips

Eliminating high interest credit cards by transferring to a card with a lower rate can help you save a great deal of money, allowing you to regain control of your finances. However, it is important that you understand all of the terms and conditions of your new credit card before committing enrollment. You want to make certain that the card offer is fair and that you are truly going to benefit from it. Featured are tips that will help you choose and use the right credit card for transferring balances.

Pre-determining interest rates

Most balance transfer offers are good for only the first 6-9 months of enrollment. At the conclusion of the introductory rate, the card will convert to a more standard rate, typically between 14-20%. It is important that you determine what the interest rate is going to be once the intro rate is over. If you are not sure what interest rate the card is going to be charging at the conclusion of the intro offer, call the issuer and find out.

New purchase interest rates don't equal the balance transfer rates

The intent of transferring credit card balances is to obtain a lower interest rate and eliminate your debt quicker. It is important to note that the balance transfer interest rate is not going to be the same for new purchases made with the credit card. In fact, new purchase rates are going to be higher. Also, payments that you make towards your credit card bill are going to be applied towards the balance transfer debt first, until they are eliminated. As a result, you are going to end paying a lot of money in interest costs for new purchases. It would be wise for you to pay off all of your balance transfers prior to making any new purchases with your credit card.

You should also be aware that many issuers will apply the introductory rate to new charges only. Therefore, you will end up paying the full standard interest rate on your balance transfers, defeating the purpose of saving money while eliminating your debt. Obviously these type of card offers are not ideal for balance transfers and should be avoided.

Know what fees are associated with transferring balances

It is very likely that you are going to be charged a percentage when transferring credit card balances. This fee is usually 4-5%, with a $35-50 cap. Unfortunately, many credit card issuers have decided to eliminate the cap; resulting in consumers having to pay hundreds of dollars when transferring $1500 or more. Even worse, this fee is often considered a new purchase, meaning you pay a high interest rate for this portion of your card's balance. Therefore, you should look to apply for a credit card that offers caps on balance transfer fees and costs.

Be alert of bait-and-switch schemes

Offers are not always what they seem. Suppose your credit score is 550. It is likely that when you submit a request for a particular card offer, that the issuer presents you with an offer that is geared more towards people with bad credit. Specifically having a higher interest rate and no introductory offer. You can get approved, and not even be informed that the approval is for a different credit card. You probably won't even realize until after you receive your first statement. Therefore, it is crucial that you read the terms and conditions of the card you are approved for before you transfer any of your balances, or make any new charges.

Don't be late on your payment

It does not matter if you are one day late or ten days late. Being delinquent on your payment will result in you losing your introductory offer!

Jacob Joseph is a financial expert for http://www.starloanservices.com. At Star Loan Services you can apply for credit cards for people with bad credit

How To Compare Different Balance Transfer Credit Cards

A few years back when the credit card companies realised that they'd reached market saturation point - that is to say, nearly everyone who was going to get a credit card had one - they turned to a new tactic to increase their business prospects. In order to continue to grow, they realized, they'd have to lure business from each other. This was easier said than done - years of market research told them that customers tend to be fiercely loyal to their first credit card. In general, whichever credit card was the first in their wallet was the one that they'd continue to use. In order to overcome the inertia of 'I've already got a credit card, ta!', they devised balance transfer schemes to entice customers to swap out their accounts for a new one with their own company. Thus was born the 0% Balance Transfer Credit Card.

And it worked a treat. By offering people the chance to move their current account balance to a new card with no interest incurred until it was paid off, the credit card companies started a whole new game and spawned a whole new class of customers - rate tarts. Rate tarts would transfer an outstanding balance from one card to another that offered no interest charges, and leave it sit there until the 0% interest period ran out - then move their balance to a new 0% balance transfer card. It didn't take long for the companies to tick to what was going on - and to change their balance transfer deals. Of course, each time they change their schemes, the rate tarts figure a new way to turn the changes to their advantage, and there are more changes. All this has led to an entire range of balance transfer credit cards with differing advantages, terms and disadvantages.

Balance transfer is still an excellent way to cut down on how much it will cost you to use your credit cards, but with all the variations on balance transfer in existences, it's vital to compare credit cards with each other to make sure you're opting into the best scheme for your needs. Below are the major points to consider when you compare credit cards online to choose the best balance transfer credit card scheme.

- Compare credit cards by balance transfer rate While there are still a few 0% balance transfer card schemes floating about, most companies now offer LOW APRs on balance transfers for the life of the transferred amount. The card with the lowest transfer rate isn't always the best card, but it is one comparison point.

- Compare credit cards by life of low transfer rate Many balance transfer cards offer their low balance transfer rate for the 'life of the transfer' - that means as long as it takes you to pay it off. The trick here is that every payment you make to that account will go to pay off your transferred balance. If you charge other purchases on your new balance transfer card, they'll be accruing interest at a higher rate.

- Compare credit cards by typical rate for purchases Since many balance transfer credit cards now require that you make a certain amount of purchases using the card each month in order to keep the low balance transfer rate, it's also important to compare the interest rate charged for new purchases on the card. Keep in mind that your payments won't make a dent in any new purchases to your card until the balance transfer is completely paid down, so you'll also want a card that requires the least amount of spending to maintain your low transfer rate.

You can compare credit cards online at "airaid.co.uk", a leading UK site to compare credit cards.

Rachael Gallant has worked for the UK financial services market for a number of years specialising in credit card applications. She's a busy mum and understands how time consuming it can be to sort through the hundreds of different offers whilst trying to interpret the associated jargon. That's why she writes clear, easy to understand guides exclusively for "airaid.co.uk" to help UK residents find credit cards that best suit their personal circumstances.

Things to Consider When Taking Advantage of 0% Intro APR Credit Card Balance Transfer Offers

All across the United States, consumers who are smart with their finances are taking advantage of zero percent credit card offers, and for good reason. By signing up for a 0% intro APR credit card deal, consumers with credit card debt and a good credit score can literally pay no interest on their lingering credit card debt for 12 months or more.

Here are some important things to remember when taking advantage of zero percent intro APR offers:

1. Many credit card companies will offer you an interest free period as a way of introducing you to their credit card. It is very important that you know and understand what the interest rate will be once that free period is over. If you are forced to pay a significantly higher interest rate after the free period you will likely wind up with a much worse deal than you had intended. If at all possible try to pay off your total credit card balance before the interest free period comes to an end. Try to find a balance transfer deal that gives you at least 6 months 0% introductory APR so that you don't wind up making balance transfers too often.

2. Be sure that you read through all the fine print very carefully. A lot of the 0% balance transfer credit card offers include a catch: if you use the new card to make a purchase while you are in the interest free period, the APR or Annual Percentage Rate can often be quite high, even as high as 25%! Additionally, payments that you make on your new credit card with a low or zero percent intro APR will be applied to the transferred balance first, which often means you?ll get hammered with high interest charges for purchases and cash advances. A balance transfer can be a really good way to help you save money over the long term, but if you need to make new purchases you will be much better served by using cash, a pre-paid credit card, or your bank debit card.

3. Try to avoid using the convenience checks. Many credit cards will include convenience checks along with your regular credit card statements. A convenience checks is usually equivalent to a cash advance, and cash advances almost always carry the highest interest rate. Sometimes a credit card will give you a good interest rate if you use their convenience checks for making balance transfers. Just be sure that you read the fine print thoroughly so that you fully understand the terms before using their convenience checks.

   There is good news about convenience checks. Some credit card companies will provide you with blank checks that are covered under their 0% intro APR balance transfer offer. These blank checks can be very useful as you can use them for whatever you want. A lot of consumers use these blank checks as a method of obtaining an interest free loan, but they can also be used to open a high-yield savings account or to purchase a certificate of deposit. Keep in mind that once the 0% introductory APR period is over interest charges will begin to accrue so it is recommended that you pay off the balance before, or as soon as, the interest-free period ends.

   If you are not absolutely certain as to whether the checks you receive are included in the 0% introductory APR offer then take a few minutes and call the credit card company to ask. Whenever you call your credit card company, be sure to jot down the name of the person you speak to in case the representative makes a mistake.

4. Don't get carried away with your credit card applications. Regardless of whether or not you are approved or rejected, if you file too many credit card applications within a short time period your credit rating could suffer a downgrade.

5. Many credit card companies own multiple credit card brands. Before submitting an application for a balance transfer, be sure that you are dealing with a credit card company that is different from the one you want to transfer a balance from. If you try to transfer a balance from one account to another, and one bank controls both credit card brands, then your application will almost certainly be rejected. Remember that inquiries into your credit report may have a negative effect on your credit rating; this is especially true if the inquiry results in an application being rejected.

   If you already have two different credit cards that have been issued by the same bank or credit card company, you can usually consolidate the balances into one credit card account. If you have questions about this call your credit card company to discuss consolidating your credit cards.

6. It is very important that the account to which you?ll be transferring your balance has a high enough credit limit so as to avoid getting into trouble with fees. Some credit cards charge a fee for transferring balances, and if your new account?s credit limit isn?t high enough, you may get hit with an over-the-limit fee after e.g. the balance transfer transaction fee is added in. When shopping for a zero APR offer, try to find one that doesn?t charge a fee for transferring balances. If you go with an offer that does charge a balance transfer fee, then do your best to find out what your new account?s credit limit will be.

7. Always pay all of your bills on time. This may sound obvious, but it is very important. Credit card companies will offer the best terms to applicants with the best credit rating scores. Having a high credit score will also minimize the chances of having your application for a credit card rejected.

   All the best 0% APR credit card offers can be found at http://www.BalanceTransfer.cc. Information about new business credit cards can be found at http://www.BusinessCreditCards.cc

The Facts About Balance Transfer Credit Cards

Credit card debt is one of the hardest financial burdens to overcome, but there are ways to pay down your debt and lower your fees and interest rate charges. Balance transfer credit cards are one such way to consolidate your debt and pay off those high balances. It will take some time and research on your part, but the end results will be worth the effort.

Balance transfer offers used to arrive frequently in the mailbox, but credit card companies are reducing the amount of offers they send because of the current interest rate increases. Interest rate hikes are also responsible for higher fees and charges on your credit cards. However, there are still companies trying to entice customers with lower or 0% credit card balance transfer interest rates for consumers who transfer their credit card balances to them. Before you decide on one particular card to transfer your balance to, you should be aware of the terms, fees, and restrictions tied to that card.

Consumers looking to save money on fees and interest charges should research which company is offering the best deal. A 0% or low APR on balance transfers is one thing you want in a card. Another key item that saves you money are fixed APRs as opposed to variable interest APRs. Fixed APRs will save you money because the rate is guaranteed for a determined amount of time, and is not affected by interest rate increases. Variable interest rates are connected to the current or prime interest rate and will usually result in higher interest rates, which in turn costs you more money in finance charges.

Banks and credit card issuers are in business to make money, and the increase in interest rates has led to record profits from fees and interest charges for these institutions. To avoid being their cash cow, you must choose a card that has low fees and finance charges. As a bonus, look for credit cards that offer rewards programs or cash back, so that you can earn rebates while paying off that balance transfer.

Once you decide on a credit card to transfer your balance to, there are some rules to follow. Don?t respond to every offer you get or apply for several cards, because every inquiry into your credit goes on your file and will affect your credit score. Multiple inquiries make you look desperate for money, and lenders are less likely to see you in a positive light. Also, you may want to keep those old accounts open if you have a good record of paying on time as this shows you have a long credit relationship with that issuer. Finally, don?t be tempted to spend money again now that you have lower rates. Have a game plan to pay off your balance and stick to it. In the end, the goal is to be debt free.

Aubrey Clark

Aubrey Clark is an editor on staff with Credit Card Direct Where you can apply for credit cards instantly.

To reach Aubrey you may email her here

The Awful Truth About Credit Card Balance Transfers

This article aims to tell you the awful truth about how banks apportion the month's repayment of interest by allocating various levels predicated on the different rates of interest that they charge, so that users of credit card balance transfers will invariably be punished for borrowing, whatever they do. It also shows why it is essential to replace that credit card once the introductory credit card balance transfers period ends.

A premier finance supplier lately launched a television advertising campaign that focussed on the fact that most banks designate peoples' usage of their cards into particular groups then allocated a particular interest rate to each group. These hierarchies were based on the spending of typical card users. Such people include holders of credit card balance transfers.

If you go by what the advert is saying, most credit card companies accept the credit card user will begin usage of the new credit card by transferring a previous balance for an average period of 39 weeks. The deal will be at 0 per cent interest for that time. The credit card user will make a new purchase with this new credit card that will on average draw a rate of around fifteen per cent.

The credit card holder may then use this credit card balance transfers procedure for getting hold of some quick cash with the same card (never a good strategy!). Your interest rate for taking out cash is higher than the rate for purchases, and this is on average between 17 per cent and nineteen percent but can be as much as 23 percent or even more than that.

Now here's where the financial trickery starts. When it comes to the monthly payment, the credit card balance transfers card lender will put the least expensive transactions at the top of the queue when the time comes to pay the minimum, or whichever level of repayment has been chosen.

Therefore the costlier aspects of your credit card account - usually the cash borrowing - is effectively ignored where it will rack up greater and greater amounts of interest, and where all that interest will be further compounded and carried forward when interest is charged to the existing debt (we all know how it works, don't we?)

Your average user of credit card balance transfers may believe that they are paying off the debt in a uniform way, and that if one type of cash attracts a higher interest rate then that will be balanced out by the goods purchase which will be charged out at a lower interest rate. But of course that is not what is happening. The fact is that the credit card company will always put the less costly portion first in the paying hierarchy, and allow the costlier elements to burn your money away.

These costlier elements will be last to be paid, and you are not in control of this. To take a typical example, for the nine month usage of an average credit card balance transfer's interest-free period all the payments will be used to pay the interest-free part while the more expensive purchase (or cash) borrowing clocks up the interest.

Crucially, the more expensive part of the borrowing will be at the back of the queue, clocking up the interest, and this is paid off last, if ever. Last of all to go will be the cash advance, with its massive 23 percent or whatever it is. The bitter irony here is that the longer the so-called interest free period of grace, the longer the length of time this amount is allowed to rack up the interest! Then when you add on the percentage charge that most credit card balance transfers nowadays charge for making that balance transfer, then you know why the banks are making so much money out of us.

The only answer to this is to get rid of the credit card balance transfers at the end of the zero interest period by transferring the entire balance to a new card. That is the only way to do it. To do otherwise is to invite a cycle of endless debt.

Gordon Goodfellow is an Internet marketer and technologist. His credit card sites automatically alert customers when their interest free period is about to end. See credit card balance transfers; the UK site is credit card balance transfers

4 Things You Need To Know About The Best Balance Transfer Credit Cards

The best balance transfer credit cards aren't really as hard to find as the proverbial needle in the haystack. It's just a matter of understanding what makes certain cards the best of the best.

If you're interested in finding the best balance transfer credit cards for your financial needs, these four tips will help you do just that.

1. Don't Judge a Card By It's Initial Interest Rate

If you're looking for the best balance transfer credit cards available, you are most likely carrying a balance on your current credit card accounts. Because of this, the interest rate of the credit cards you're interested in should be factor number one in your balance transfer decision.

Many consumers make the mistake of jumping at balance transfer credit cards that offer low introductory rates without really considering what those rates will be going up to once the introductory period is over. Don't follow in their footsteps.

When deciding which companies offer the best balance transfer credit cards, look at the long-term interest rates, not just the introductory rates. A 0-percent rate that only lasts six months and then jumps up to 19 or 20 percent isn't really a good balance transfer credit card. The best balance transfer credit cards will have an interest rate that stays low when the introductory period is over.

2. Interest Rates Aren't Set In Stone

When dealing with credit cards, you have to understand that interest rates aren't set in stone. They can (and will) go up if you default on your credit card agreement in any way. Make a late payment or go over your credit limit and that low interest rate can really take a hike.

Even the best balance transfer credit cards will up your interest rate if you make a late payment or abuse your account privileges in any other way. To make matters worse, if you pay any of your credit card statements late all of your credit card companies can up your interest rate. This ugly credit card phenomena is referred to as the Universal Default Agreement.

Remember, when you finally get yourself set up with the best balance transfer credit cards you can find, make sure you do your part to keep the favorable terms you've been presented with.

3. They're Not a License To Pay Less

So you transfer your credit card balances to the best balance transfer credit cards and suddenly you realize that your minimum monthly payments have gone down. Don't get too excited. It doesn't mean you should pay less each month than you have been.

When you transfer your credit card balances to a lower-interest credit card, your minimum monthly payment will go down because you're paying less towards interest. What this means is that you're going to get your balances paid off faster because more money is going to be going towards the actual balance each month (especially if you pay the same amount you had been on the higher-interest card).

Do yourself a favor and pay as much as you possibly can towards your credit cards each month, even if you do have the best balance transfer credit cards out there. When you pay them off faster (saving hundreds or even thousands of dollars in interest charges), you'll thank yourself.

4. The Best Balance Transfer Credit Cards Aren't Used For Purchases

When you transfer your existing credit card balances to a credit card with a lower interest rate, don't be tempted to charge more. The purpose of getting the best balance transfer credit cards is to pay your debt off faster -- not to accumulate more debt in the process.

As tempting as it may be to buy that new laptop at 0 percent interest for six months, don't do it. Wait until your current balances are paid off and then consider making the big purchase.

By following these four credit card tips you'll be able to find (and manage) the best balance transfer credit cards on the market, enabling yourself to get out of debt faster and for less money.

For more tips on getting the best deal on credit cards, saving money and avoiding getting taken, check out CreditCardTipsEtc.com, a website that specializes in providing credit card tips, advice and resources.

Balance Transfers for 0% Interest

So you have received a credit card offer that allows you to transfer your current balances from other credit cards to this new credit card at an interest rate of 0%. Sounds good, right? Maybe, but there are some definite pros and cons to the idea.

The most important part of the offer is how long does the 0% interest rate offer last. These offers do not usually last for a long time. Some companies offer it for three months and some will offer it for up to one year. So make sure that the rate offer is actually worth the transfer.

You are probably thinking that no interest for even three months is better than paying interest for those three months. That is only true if you are actually going to save money. See, most balance transfer offers require a transaction fee for each transfer.

Transfer fees differ for each credit card company. Most of them charge about 4% of the actual amount transferred. But they usually have a cap on that amount. That means that if they have a cap of a $75 fee you will pay 4% until reach the $75 limit. Remember that fee is for each transfer.

If, for instance, you only owe $1000 and are currently paying 9% interest and you want to transfer the balance over, you will first pay a $40 fee. If the rate is only for three months, you did not save any money, it actually cost you money to do the transaction.

But if you could borrow, say $8000, you would pay the transfer fee of $75. If the offer is for anything over three months, you will actually save quite a bit of money. So do the math before you jump on the offer.

The biggest pro to this is, if they are offering you a high enough credit limit that you can consolidate a few very high interest rate cards on to the 0% interest rate card. You can, even after paying the fees, save a lot of money. This is especially true if the length of the offer is for nine months or more.

One thing to check with first is what the interest rate will be after the promotional time period expires. This will let you know if you can just keep this card or are you going to need to shop around for a better card two months before the rate expires. Usually, if you are a good payer, the interest rate you will receive will be pretty reasonable.

So there are a few pro and cons that come with a 0% interest rate offer. Just check first and make sure the rate out weighs the fees. If that is, in fact, the case, go ahead and consolidate some of those high interest rate cards and save yourself some money.

David Tanguay is dedicated in helping individuals & businesses get out of debt. To compare hundreds of credit card offers & rates please visit Compare Credit Card Rates at easycreditcompare.com

How to Save Money with a Business Credit Card Balance Transfer

If you have a decent amount of debt on your business credit card on which the interest rate is killing you, you may be thinking about transferring the debt to a new card that offers a lower introductory interest rate. Before doing that, however, there are a few things to consider. You should consider whether a zero APR is the best option, whether the "real" APR when it kicks in is lower than your original, and the number of times you will need to do a balance transfer. Each of these can have an effect on your interest rate as opposed to principal, or on your credit score.

First, know that a balance transfer is indeed a great way to pay off your principle debt. Credit card interest rates can be as high as 24%, which can almost wipe out any payments you make to the principle. However, don't instantly apply to the first card you see with a 0% introductory APR. Some of these low APRs may be illusory, pulling you into a card plan that will ultimately have a higher interest rate.

And this is what can kill you.

Some 0% introductory APR cards will end up with such a high APR after the introductory period that they make moot any savings you will have accrued after your balance transfer. Look for a card that will end up with an APR equal to or less than the one you have now, and that has a 0% to 3% introductory APR for the first six months to year. A 3% APR can still result in a terrific savings.

If you do happen to use a 0% APR card that ultimately switches to a higher interest rate than your original card, you may find yourself transferring your balance again and again, constantly chasing the zero. This can cause problems, however.

Switching debt from one card to another, say, more than once in a 12 month period, can affect your credit rating. In addition to this, your credit score can be badly marked by constant canceling of cards or having more than a few cards in your name. And of course, a poor credit rating can ultimately lead you to higher interest rates.

So what is the upshot of all this?

Look for a business credit card that has a low, if not zero, introductory APR. Read the terms carefully. See what the APR will be after the introductory period. Also, keep an eye out for hidden terms and fees that apply to balance transfers. Try not to transfer a balance more than once a year, so low APRs all around are best. Unfortunately, all this will require a bit of digging into the sometimes wordy terms of the various credit cards, but there is no way out of that. With some ground work, you will be able to find a terrific business credit card that will allow you to pay off your principle without painful interest rates.

To make it easier, compare the business credit card applications at Web Biz Credit.com by clicking here. Jake Everett is a regular contributor at Web Biz Credit.com, offering regular tips on selection and comparison of business credit cards.

Balance Transfers, Are They Your Friend?

The balance transfer can be a useful tool in eliminating the interest that you are currently paying on your credit cards. All you have to do is read your current credit card agreement, and make sure you will not be penalized, for a balance transfer, and use another credit card that will allow you to transfer your balance to it.

For the sake of an example, let's say that you have a credit card with a balance of $9,000.00, and a minimum monthly payment of $250.00, and that your interest rate is 16%. That means for every $250.00 payment, you will be paying $120.00 in interest.

If you could get a balance transfer for six months, no interest, it would mean that for five months, you would be applying $1,250.00 against the principle, instead of $650.00. See how fast you would decrease you credit balance.

During the fifth month, you would look for another credit card that you could repeat the process. You do it over and over, so that you end up not paying any interest at all! The goal is to pay off your credit cards, save your credit rating, and become debt free.

In order to get out of debt, you must stop charging on your credit cards, and make sure that every penny that you pay on them goes to the principle, and not interest. Balance transfer is one of the best methods that I know, to make sure you apply the maximum to your principle with each payment. Good luck on your next balance transfer.

Roy Miller, Jr., is the author of "BEYOND THE VALLEY OF DEBT." How you can get out of personal consumer credit card debt, and live debt free forever, without increasing your income, borrowing money, filing bankruptcy, or paying for credit counseling.

CREDIT CARD DEBT

Best Balance Transfer Credit Cards May Save Your Life

Having a credit card can give you a false sense of security. Somehow you find yourself being lured to make purchase after purchase by that little piece of plastic between your fingertips. It?s a very common scenario. And if you are a part of the working class, it?s not likely that you will be able to afford to pay your balance in full. So you find yourself paying the minimum amount due printed on your statement every month, only to find out months later that you?re not that far from where you?ve started.

The reason for this is high interest rates compounded on top of your outstanding balance. Some credit card companies charge interest of up to 18%. And if you are only paying minimum, or slightly above minimum, you just can?t win. Its time to think of an alternative and that is finding the best balance transfer credit cards.

What Is a Credit Card Balance Transfer?
Simply put, a balance transfer means moving your debt from one credit card to another. This is a very good way of saving money. If you have more than one credit card, you can even consolidate your debts by transferring all your outstanding balances to just one card. Many credit card companies offer an interest-free period, making them the best balance transfer credit cards. There are also some offering considerably lower interest rates than what you are putting up with.

How Does It Work?
A credit card balance transfer is pretty straightforward. All you need to do is apply for a new credit card. Once approved, you can give the details of your old credit card to the new issuer and they can transfer the balance for you. If your new credit card has an online banking feature, you can even do the transfer yourself. Of course, you have to do your research and find the best balance transfer credit cards that fit your needs.

How Can I Find the Best Balance Transfer Credit Cards?
Research might be painstaking but it can help you find the best balance transfer credit cards. Find a credit card that would let you transfer your outstanding balance from your old card with a 12-month 0% annual percentage rate, or APR. Also make sure that the new credit card offers low interest rates after the period is over.

Read the Fine Print.
If you plan to make purchases with your new credit card, be very careful. Even if they have a balance transfer rate of 0%, most credit cards still offer the standard, and sometimes even higher, interest rates for purchases. Any payments made goes towards your balance transfer. As a result, interest is compounded each month until your balance transfer is paid in full. The best balance transfer credit cards offer 0% or low interest rates for both the balance transfer and purchases. Also be aware that some credit card companies will charge a transfer fee for every balance transfer.

Protect Yourself.
Once you have chosen the best balance transfer credit cards for your needs, don?t be too cocky to take further precautions. Where money is concerned, there are a hundred and one ways for things to go wrong.

? Do the balance transfer as quickly as possible. Most credit card companies have a limited period for you to take advantage of any promotions.

? If the approved credit limit is not high enough for your outstanding balance, just move what you can. Most people make the mistake of not using the new credit card because the credit limit is not high enough.

? Even with an interest of 0%, it is still debt. Always pay at least the minimum amount required to avoid penalties, or worse, losing the deal offered by the best balance transfer credit cards that you chose.

Manage your credit cards responsibly, or else you just might create more debt without a way of paying for it.

Interested in best balance transfer credit cards? Visit CreditCardMonitor.org today and find easy to get credit cards, particularly zero interest credit cards

How To Compare Balance Transfer Credit Card

Balance transfer credit cards are cards that allow users to consolidate their credit card debt. These cards work by allowing the cardholder to transfer the outstanding balance on all their cards to one single credit card. This results in lower payments and best of all, one interest charge instead of two or more depending on the number of cards you have.

When comparing balance transfer credit cards, be sure to carefully read the fine prints. Failure to do so can result in higher monthly fees as well as a higher interest rate (APR) than you expected.

The first item to compare on balance transfer credit cards is the APR. Some offer extremely low introductory APR but once the introductory period has expired their rates may end up being higher than a card that starts out with a higher APR. Most importantly, ensure that the introductory rate refers to the transfers as well as current balances.

Next check out how long the introductory APR you are offered will last. If you can pay off your balance during the length of the introductory period, a 0 or low APR is great even if the interest rate after the introductory period is high.

Are there balance transfer fees? This is an important question that needs to be asked as failure to do so may require that you come up with even more money. A balance transfer fee of anywhere between three and four percent (3%-4%) is possible. If you transfer a balance of six thousand dollars and pay a transfer fee of three percent (3%) you will need to come up with an additionally one hundred and eighty dollars ($180). At four percent (4%) on the same amount you will need to pay two hundred and forty dollars ($240).

Compare the penalties for late payment. A late payment can send a low APR card?s interest rate way up, sometimes the rate can double or triple because of one late payment.

To compare balance transfer credit cards, Eric Wasselman recommends Find Credit Cards. Please see http://www.findcreditcards.org/type/balance-transfer.php for more information.

0 Balance Transfer Credit Card Are They Worth It

It's a plastic ocean out there with numerous banks and financial institutions scrambling to sell you their 0 balance transfer credit card. And there are so many kinds of credit cards available in the market that a credit card user gets intimidated and perplexed about which card to choose.

The result is that he often chooses the wrong card and then regrets his decision when he's already neck deep in problems with his credit card account.

So, never pick up a 0 balance transfer credit card without considering some crucial factors. Here is a small guide that can help you decide which type of credit card you must pocket.

Guidelines to choosing a credit card

Ask yourself, "Why do I need a new credit card?" Is it because your current credit card carries a higher rate of interest, or is it because you want to use it exclusively for your business, or is there any other reason? Zero in on the reason why you need a new credit card.

Once you have the reason, you must check out what kinds of credit cards are available in the market. Here is a brief dossier:

(i) Regular cards/Business cards are cards that give you a spending limit based on your income tax papers. The business card is just like a regular card, except that it comes with some schemes that dangle carrots before you.

(ii) Charge cards are cards that are linked to your bank account and they charge your account the minute you swipe the card. You cannot carry forward a balance with a charge card.

(iii) Reward cards are credit cards that earn you points every time you swipe them and such points are redeemable for some goodies (air tickets, supermarket goodies, etc.) at selected establishments.

(iv) Then there are cards for people who have a bad credit history. These cards carry a low spending limit and a higher rate of interest. (v) Prepaid cards are another type of credit card that are mostly used by teens and some kids too. The parent makes a deposit and the card is valid until the deposit is used up.

(vi) Secured credit cards require that the cardholder deposit a certain percentage of the credit limit upfront into their bank accounts.

Once you have decided what kind of a credit card is right for you, do a comparison between different brands of cards. Compare their rates of interest (APR = Annual Percentage Rate) and also check whether they carry an annual fee.

What grace period or no-payment period they offer you, how do they calculate the interest, whether the rate of interest is an introductory rate, whether rates of interest will vary on cash withdrawals, billing cycles, penalties on balance transfers, and so on.

Voila, there you are! If you follow these basic guidelines, you will be successful in pocketing the right 0 balance transfer credit card that suits your needs. And that is the easy part,the difficult part lies in maintaining a credit card and keeping your credit history clean.

But, that's another story!

Del has successfully been in sales over 30 years. He believes you can lead a horse to water but cannot make him or her drink it. Unless you put salt in the oats. The salt is your why (or maybe what you do not want out of life). More helpful information and articles on http://www.0creditcard.eu

Balance Transfer Tips

The most expedient and convenient way (but not necessarily the most effective as we shall see later) of reducing the interest on your card is to get balance transfer, which basically means paying off one card with another. Obviously you need another card to do this and there is really no objection to this (unless you simply must abuse it.) Of course cards with no annual fee are best, but even a small annual fee is okay when you're saving more anyway. The number of card offers these days that have low or no interest periods makes this fairly easy. Here are a few things to take note of:

1. Balance transfer offer periods usually start on the card activation date, not the date you actually do the transfer. Once this period (usually about 6 mouths) is finished, the remaining transferred amount and any further transfers revert to the standard balance transfer rate.

2. Balance transfers at a later stage are still useful to eliminate cash out interest that may have been 'sandwiched' between purchase transactions. Learning not to get cash out is a good move in the long-run, but this will solve those impulse hiccups.

3. Transferring a whole card account balance frees your initial card to enable you to make use of the 'interest free days' or 'grace period' facility. (See Report.)

4. Depending on the credit card company's policy, you can do balance transfers over the phone, online or only by having a form sent out and sending it back. This last takes longer of course (though you could use fax if you're in a hurry) so allow for this extra time. On new card applications this is rarely a problem anyway as they'll ask you during the application process whether you want to do one (or you can wait until your card is activated if you like.)

William Ember is author of the Credit Card Conqueror Report which provides detailed and practical plans on how to save money on credit card interest and other charges (and in some cases pay none at all!) The report is available free from his website

Take Advantage Of A Balance Transfer Credit Card

One of the more recent innovations in credit cards that has come around that is really helpful is a balance transfer credit card. This is a feature that is on most types of cards but it could really be to your advantage. Here are some ways that this card can help you and some tips on how to choose the right one.

The first thing you want to do is to select the type of card that is just right for you. Whether it be an air miles card, or a driver's credit card, or a rewards card, or even a business credit card, you should select which one will give you the greatest advantage. You can determine this by looking for the largest amount or type of purchases you make each month.

Once that is done, you want to start looking at the balance transfer options and compare them. You need to look at more than just to see if it says there is a 0% APR interest rate on balance transfers. All balance transfer options on different credit cards are not equal. Some will charge you as much as four percent of the transferred amount - even if there is 0% APR interest! Many balance transfer credit cards will not charge you to do this, so look around and find one that will not.

Balance transfer credit cards also have different lengths of time for the amount transferred that you can get the 0% APR interest. Some will give you that rate for only three months, but will allow you to have 0% APR interest on all your new purchases for a year or longer. Other credit cards (the best ones) will give you that great interest rate until it is paid off - an unbeatable feature on the best cards. If you can get this, and you have balances on other credit cards, this is the way to go.

Another thing that you want to watch for is just how long a time period do you have to be able to put existing debt on your new balance transfer credit card. It is very important that you find out about this because many cards will only allow you to use this feature when you apply for the card. You literally have to fill in the amount of all transfers, and the card information, when you apply. Transfers, on some cards, cannot be made after that.

Finally, as with any credit card offer, be sure that you also look at the interest rate. It will eventually be the rate you will be paying if you have outstanding balances. Get as low of an interest rate as possible, or, apply for a new balance transfer credit card before the introductory period on this card expires - especially if you still have outstanding debt. However, instead of fully charging up the old card when you make the transfers, be sure to destroy the old card and reduce your debt altogether - that way you are sure to get the best savings.

Joe Kenny writes for the Credit Card Guide, with some great 0% credit cards or compare credit cards, or search for 0% balance transfers deals

Credit Card Balance Transfers - Know How To Save Money

In 2004 Americans paid $412 billion dollars in finance charges to the credit card companies. If you contributed to this astronomical amount, you might be considering a 0% interest balance transfer to knock down those monthly payments. You also might think that this is a simple choice, that of course you should opt for a card that does not charge interest over any other card that does. Well, before you take up credit-card hopping as this month's attempt at exercising, there are a few things you should be aware of when it comes to balance transfers.

Balance Transfer Fees. Many balance transfers can cost you a charge of 3% to 5% of your balance. Although many cards will cap this charge at around $50 to $100, some do not, and your charge could very well negate your savings from the lower interest rate.

Universal Default Clause. This policy is practiced by many credit card companies and you need to be aware of it. Under this policy if the cardholder is late on any of their bills, cell phone, electric, car, what have you, the credit card company can instantly take away the promotional interest rate and charge a higher rate.

The Fine Print and the *. Be sure to scrutinize the fine print and watch out for any conditional symbols such as the asterisk*. Many zero % interest offers are only given to candidates who qualify, namely those with a clean credit history. Be careful when applying under these terms as you might not qualify for the zero % interest but instead end up with an even higher interest rate.

Additional Purchases. Find out if new purchases qualify for the zero% interest as this will have important ramifications. If new purchases do fall under the 0% interest then you can rest easy. If they do not, you must be aware of the consequences. Let's say you transfer $5,000 and then make additional purchases of $500. Any payments you make will go towards the $5,000 first and the $500 will instead accrue interest at the higher interest rate until the entire $5,000 is paid. That $500 might end up costing you more than you saved with the balance transfer. **It is important to note that the balance transfer fee usually counts as a new purchase.

But do not be discouraged, balance transfers are a powerful fiscal tool, if used properly. Follow these steps and you are sure to beat the house.

Destroy The Old Card. Do not give the temptation a chance. Like the arms of an ex-lover you are trying to leave, you do not want to be wrapped up by them...again.

Destroy The New Card. If your main goal is to pay down the balance, cut the new card as well and you will not have to worry about interest charges on new purchases. Simply pay down your debt at zero interest.

Pay All Of Your Bills On Time. Do not fall prey to the universal default clause. Pay all of your bills (phone, auto, mortgage, etc.) on time and you will retain your zero % interest.

Call The Credit Card Company. When your promotional rate comes to an end, before transferring to another card, call your credit card company and tell them you are going to transfer your balance if they cannot give you a low interest rate. It will not be 0%, but it might be much safer then jumping to a new card and repeating this precarious process.

This article may be reprinted on the condition that nothing is altered and that the links remain active. Rose Spencer is a Credit Risk Analyst who writes articles on credit management for a website offering news and information on credit cards. If you're looking for a Balance Transfer Credit Card visit these links and Apply for a Credit Card Today.

The True Value of Balance Transfer Credit Cards

Far too many people make the mistake of just looking at the interest rate offered for balance transfer credit cards. There are several other factors that play a critical role. These factors include the duration of the introductory rate, the actual rate offered during the introductory period, the rate to be imposed after the introductory period is over and finally, any and all fees.

Another key component to getting the best deal on balance transfer credit cards is your current credit score. If your credit history is solid, you're going to get a great deal. If you have poor credit, the deal you will be offered will not be nearly as good, if in fact, you're accepted at all by the credit card issuer.

We are all looking to improve our financial situation. Lowering expenses is an excellent place to start. As a matter of fact, I think it's the very first thing that should be looked at. If you are not in the position to immediately pay off high balance credit cards, then the next best move is to transfer your balance to a credit card that charges a lower interest rate. A 12 month 0% APR introductory rate credit card is definitely a desirable option.

Use that introductory rate to your advantage though. Don't view it as a free ride. Pay off your balance as quickly and aggressively as you possibly can. That's where the true value of balance transfer credit cards lie. But again, and I cannot stress this enough, read all the fine print so that you will know what rates you will be charged when the introductory period expires. Far too many people apply for balance transfer credit cards thinking that their financial debts are taken care of, only to learn that they are once again socked with high interest rates.

All credit card companies know that their real profits lie with those individuals that carry balances month after month. They love them. That's what keeps them in business. Don't enrich the credit card issuers, enrich yourself. You can do that by knowing all the stipulations associated with the credit cards that you are considering. You must also be diligent and disciplined so that you will not get caught unknowingly with high interest rates and unnecessary fees. Only then will you truly benefit from balance transfer credit cards.

Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Low Interest Rate Credit Cards, including assistance with locating the Best Balance Transfer Credit Cards. Get the information you are seeking now by visiting getqualitycreditcards.com.

Your Quick Guide to Balance Transfer Credit Cards

Balance transfer credit cards are cards that are ideally suited to serving as rollover credit card accounts for those who are looking to simplify their finances by merging all of their credit card account balances into one single account. This process helps the consumer gain control of his or her finances by simplifying the process of paying and also has the potential to save the consumer money if the balance transfer credit cards offer competitive interest rates or other perks.

Those who are looking to merge all of their accounts using balance transfer credit cards need to keep a few things in mind. The most important consideration when shopping for balance transfer credit cards is the interest rate. There are two components of interest rate that should be considered on balance transfer credit cards. The first rate is the introductory rate. This is a rate, generally much smaller than the long term interest rate, that will be applied to the credit card balance for a limited time period, typically a year or shorter.

Many cards that are designed to function specifically as balance transfer credit cards offer very low introductory rates--some even go so far as to offer a zero percent interest rate for a fixed amount of time. These low introductory rates are great for those who are in the process of actively reducing their credit card balances. By using balance transfer credit cards that charge a zero percent introductory interest rate, it is possible to gain a temporary respite from the cycle of ever increasing interest payments.

Of course, introductory rates are meant to be short term incentives, and after the introductory period has expired, the long term interest rate will be applied. This interest rate is always much higher than the introductory rate. Therefore, those using balance transfer credit cards should strive to pay down their balance as much as possible during the period in which the introductory rate is in effect.

It is important to find out if the balance transfer credit cards that the consumer is considering charge an initial interest fee on the account transfer balance. These charges are always undesirable and the consumer should only consider applying for balance transfer credit cards that apply such a fee if the introductory and long term interest rates are appealing enough to offset the extra initial payment or if a bad credit situation forces the consumer to consider less than optimal offers.

Morgan Hamilton offers expert advice and great tips regarding all aspects concerning 0% Interest Credit Card Balance Transfers, including assistance with finding the Best Balance Transfer Credit Card Deals. Get the information you are seeking now by visiting find-cards-now.com.

The Benefits of Balance Transfer Credit Cards

People who want to simplify their finances by merging all of their credit card account balances into one single account should get balance transfer credit cards. A person can gain control of his or her finances by simplifying the process of paying his or her debts. A person may also save money because these credit cards offer competitive interest rates and other perks.

However, people who want to use balance transfer credit cards to merge all of their accounts, need to keep a few things in mind. The interest rate is the most important consideration when shopping for balance transfer credit cards. There are two components of the interest rate that should be considered on these credit cards.

The introductory rate is the first component of the interest rate that should be considered. This rate is usually much smaller than the long term interest rate. It will be applied to the credit card balance for a limited time period. Credit cards that are designed to function specifically as balance transfer credit cards generally offer very low introductory rates. Some may even go so far as to offer a zero percent interest rate for a fixed amount of time.

Persons who are in the process of actively reducing their credit card balances will find the low introductory rates useful. They can gain a temporary respite from the cycle of ever increasing interest payments through the use of balance transfer credit cards that charge a zero percent introductory interest rate.

Introductory rates are meant to be short term incentives, and the long term interest rate will be applied after the introductory period has expired. Persons who use using balance transfer credit cards should strive to pay down their balance as much as possible during the period in which the introductory rate is in effect. This is because this interest rate is always much higher than the introductory rate.

Persons who are interested in balance transfer credit cards should also find out if the credit cards they are considering charge an initial interest fee on the account transfer balance. If the introductory and long term interest rates are appealing enough to offset the extra initial payment, then they should apply for credit cards that charge a fee for account balance transfers.

Morgan Hamilton offers expert advice and great tips regarding all aspects concerning how to locate Apply for Credit Cards, including assistance with Credit Card Balance Transfer Offers. Get the information you are seeking now by visiting findqualitycreditcards.com.

Balance Transfer Credit Cards: A Way to Consolidate Debt

Credit card debt is a fact of life for millions of Americans. Once you have credit card debt racked up, it can be difficult to get rid of. Balance transfer credit cards provide a solution to this problem. By understanding how they work, you can use balance transfer credit cards to help you get out of debt.

How Balance Transfer Credit Cards Work

Balance transfer credit cards allow you to transfer the amount due on other credit cards to their card. Many offer a low interest rate or a 0% APR introductory rate on the transferred amount. This way, you can avoid paying hundreds of dollars on interest. By making payments each month, you reduce the balance and save on interest expense.

Understand the Fees

Balance transfer credit cards come in many shapes and sizes. Some charge a fee to transfer balances; others do not. Some offer low interest rates for a certain period of time; others allow a fixed low interest rate on the balance until it is paid off. Certain balance transfer credit cards come with a rewards program or additional perks. While balance transfer credit cards offer a great rate on the initial transfer, some include a high interest rate on new purchases. The payments you make will first be applied toward finance charges, then the transferred amount, and finally the new purchases. Your best bet is to find a balance transfer credit card that offers 0% APR on new purchases for the length of the promotional period. You may be surprised at how may credit card issuers are offering 0% APR on both the balance transfers as well as on new purchases for up to 12 months.

Study your Finances

Before you apply for a balance transfer credit card, be sure that you understand your financial situation. Look through your credit cards and the interest rates on them. If you are carrying balances with high interest rates, you may be spending hundreds of dollars each month on interest. It could take years to pay off the initial amounts placed on the cards. By transferring the balances to a credit card with a low interest rate, you can pay off the amounts faster. Also, balance transfer credit cards allow you to consolidate your debt. Keep in mind that some balance transfer credit cards only offer a low interest rate for a certain period of time. Many cards have a high interest rate or variable interest rate that kicks in after six months or a year. If you haven't paid off the balance by then, the higher interest will continue to increase your debt and work against you. If at all possible, you will want to pay off the credit card debt that you transfer within the promotional period.

Transfer Away

After you have done your research and understand your finances, you are ready to apply online for a balance transfer credit card. Pick one that suits your needs. Then set up a system to pay off the balance. Balance transfer credit cards can provide the first step toward getting out of credit card debt. By placing all of your credit card debt in one place, you can make just one easy payment each month. You also will be able to enjoy paying 0% interest for a period of time on your balances. With a little planning, you will soon be on the road to zero credit card debt and good money management.

Free online reprints of this article are allowed provided the resource box remains intact with a live link back to http://www.credit-card-surplus.com

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Ed Vegliante runs the website http://www.Credit-Card-Surplus.com, a well organized credit card directory enabling the consumer to compare and apply for a variety of credit card offers. View more Credit Card Articles

Balance Transfer Credit Cards - Which One For You?

If you have any kind of existing credit card balances, balance transfer credit cards may be just the thing you need to reduce your credit card debt. They can also help you save money in other ways, too. Here are some ways that a balance transfer credit card can save you some money.

0% APR Interest

The first way it can save you money is that, hopefully, the new card gives you a 0% APR interest introductory offer for balance transfers. You will need to double-check the fine print on the credit card to be sure that this rate applies to balance transfers. Most often it applies to the interest rate on your purchases, and only on some cards will it apply to transfers. If you also get that rate of interest on your transfers, then be sure to notice how long that you get that rate for. The rate on balance transfers is often different than the length of the introductory offer.

The 0% APR interest generally applies to your purchases made during the introductory time period. This gives you great savings over that time frame, but be sure to pay off the balance each month - and on time, for the best savings. Any late fees take away any savings you get, otherwise, and you may actually end up paying more than if you had made your purchase at retail prices.

Balance Transfer Fees

Another thing you need to look for is to see if there are any fees associated with the transfers. Some balance transfer credit cards will charge up to a hefty 4% of any amount transferred to the card. While this figure may sound good when compared to the interest on the other card, keep in mind that many cards will not charge anything.

Rewards

Choose your balance transfer credit card on the basis of this option, too, since you can definitely save some money here, if you get the right card. Rewards come in many types, but if you get one that is geared to your needs (most expenses per month), then you will probably be able to save considerably. A card with rewards on it means that you get either discounts on future purchases, rebates or cash back. This amount of savings can certainly add up after a while, and can put a smile on your face when your bill comes each month.

Remember to compare a number of balance transfer credit cards in order to see what kinds of deals are available. Also, be sure to look at the various fees, so that you do not lose the value of your rewards. There can be many fees on a credit card, but by shopping around, you may be able to get one that does not have very many, or, has fees that you can avoid with prompt and full payments. Get as low of an interest rate on the card as you can for the time after the introductory time period runs out ? or get a new card.

Joe Kenny writes for the Credit Card Guide, offering the latest 0% credit cards, visit today for introductory 0% balance transfers and start clearing credit card debt today. Visit today: http://www.cardguide.co.uk/

Balance Transfer Credit Cards - Which One For You

If you have any kind of existing credit card balances, balance transfer credit cards may be just the thing you need to reduce your credit card debt. They can also help you save money in other ways, too. Here are some ways that a balance transfer credit card can save you some money.

0% APR Interest

The first way it can save you money is that, hopefully, the new card gives you a 0% APR interest introductory offer for balance transfers. You will need to double-check the fine print on the credit card to be sure that this rate applies to balance transfers. Most often it applies to the interest rate on your purchases, and only on some cards will it apply to transfers. If you also get that rate of interest on your transfers, then be sure to notice how long that you get that rate for. The rate on balance transfers is often different than the length of the introductory offer.

The 0% APR interest generally applies to your purchases made during the introductory time period. This gives you great savings over that time frame, but be sure to pay off the balance each month - and on time, for the best savings. Any late fees take away any savings you get, otherwise, and you may actually end up paying more than if you had made your purchase at retail prices.

Balance Transfer Fees

Another thing you need to look for is to see if there are any fees associated with the transfers. Some balance transfer credit cards will charge up to a hefty 4% of any amount transferred to the card. While this figure may sound good when compared to the interest on the other card, keep in mind that many cards will not charge anything.

Rewards

Choose your balance transfer credit card on the basis of this option, too, since you can definitely save some money here, if you get the right card. Rewards come in many types, but if you get one that is geared to your needs (most expenses per month), then you will probably be able to save considerably. A card with rewards on it means that you get either discounts on future purchases, rebates or cash back. This amount of savings can certainly add up after a while, and can put a smile on your face when your bill comes each month.

Remember to compare a number of balance transfer credit cards in order to see what kinds of deals are available. Also, be sure to look at the various fees, so that you do not lose the value of your rewards. There can be many fees on a credit card, but by shopping around, you may be able to get one that does not have very many, or, has fees that you can avoid with prompt and full payments. Get as low of an interest rate on the card as you can for the time after the introductory time period runs out ? or get a new card.

Joe Kenny writes for the Credit Card Guide, offering the latest 0% credit cards, visit today for introductory 0% balance transfers and start clearing credit card debt today.
Visit today: http://www.cardguide.co.uk

Are We Seeing The Demise Of The Balance Transfer Credit Card?

A few years back, credit card companies realized that they reached nearly every potential new customer. In order to keep increasing their market shares and their profits, they were going to have to entice people who already had credit cards to jump ship from their old companies and apply for a new credit card with them. Thus was born the concept of the balance transfer credit card. Balance transfer cards offer consumers the chance to reduce their monthly payments and total repayment amount on their current account balances by giving them a lower rate of interest - often 0% interest - on any balance transferred from another credit card.

These cards proved to be far more popular than the card issuers expected. Consumers figured out fairly quickly that they could shift balances from one card to the next, moving on to another 0% transfer card when the low interest rate on their last balance transfer card expired. Rate tarts, the term coined for people who moved their balances to avoid paying interest on their carried over balances, shook the credit card companies and encouraged them to start placing some restrictions on their offers.

Originally, the companies thought that people would transfer their balances to a new card, and use that credit card in preference to others. Under that scheme, the card companies would lose out on the interest on the transferred balance, but would make up for it in interest rates and merchant fees on new purchases. Unfortunately for the companies, today's consumer has the benefit of the internet with comparison sites to help them work their way through the complexities of credit card finances and loans. Many consumers transferred their balances to a new card, but didn't use the card to make new purchases.

In response to that, the credit card companies began placing limits and restrictions on their balance transfer offers. This has let a lot of people to believe that we are seeing the demise of the balance transfer credit card. In reality, the concept of offering lower interest for moving your carried account balance hasn't died - it's simply undergoing a metamorphosis to make it more friendly to the credit card companies.

That means, of course, that it's less friendly to consumers, who now have to shop a bit harder to get a good balance transfer deal. Those deals can still save you a lot of money, though, so it's important to keep your eye out for them. You'll also need to watch out for some of the tricks and traps that credit card companies are building into their offers now to discourage rate tarts. Before you apply for a balance transfer credit card, look closely at the member agreement so that you know:

- What is the APR for transferred balances?

- What is the balance transfer fee for the transaction?

- How long will the new APR apply to my balance transfer?

- What is the APR for new purchases made to the card?

- Do I have to whack a certain amount or number of new purchases on my card to keep the low APR on my balance transfer?

- Is the balance transfer fee more than the amount of interest that I'd pay on the transferred balance over the same amount of time?

- What will invalidate my balance transfer offer?

If you're looking for a way to lower your monthly payments, or cut down the total repayment on your credit card bills, a balance transfer card could be the answer that you need. Check out new balance transfer offers at comparison sites on a regular basis so that you'll never have to pay more interest on your accounts than you should.

Jon Francis has been involved in various areas with the world of finance and has a keen eye for a bargin! He has an in-depth knowledge of the credit card UK market and now helps others get the best from a credit card

No Fee Balance Transfer Credit Cards

Looking for a 0% balance transfer credit card that does not charge a balance transfer fee? Chances are, you?ve had some trouble finding one. Over the past year, the number of credit cards offering no fee balance transfers has decreased dramatically. Additionally, the maximum fees have risen on many cards from $50 to $75. Fortunately, there are still a few credit card companies that offer no fee balance transfers. The trick is to find the right offer and to read the fine print.

The standard fee for balance transfers is 3%, with a maximum fee of between $50 to $75. Now, if you are transferring a large balance, let?s say $5,000 the maximum fee of $75 amounts about 1.5% of the balance transferred. However, if you are transferring $5000 from three different cards, you will be charged 3% from each card. Thus, if you transfer balances from two credit cards with $1500 balances and one with a $1000 balance, your fees will amount to $120, or 2.4%.

Now, even with balance transfer fees, transferring $5000 to a 0% credit card from a credit card with a 15% interest rate will still save you over $600 over the course of 1 year. However, doing so with a no fee balance transfer credit card will save you about $750, or enough to buy a very nice dinner with a bottle of wine.

Clearly, moving balances from high interest credit cards to 0% credit cards is a great money saver. However, it is worthwhile to seek out a 0% credit card that offers no fee balance transfers, as the savings can add up quickly, especially when consolidating balances from multiple cards.

Now the hard part. Since credit card companies that offer 0% balance transfers aren?t making money on interest, they look to get it from fees. Consequently, many companies bury the details of their balance transfer offers in the fine print. After looking over credit card offers from every major issuer, I was only able to find one company that currently offers no fee balance transfers. And the offer was buried very deep in the fine print. However, if you look hard, no fee balance transfer offers can be found.

For information and links to online applications to no fee balance transfer credit cards, visit www.SmartCreditChoices.com. SmartCreditChioces features online credit card applications from every major issuer. At SmartCreditChoices, you can compare 0% balance transfer credit card offers and apply online for instant approval

Tips And Tricks About Balance Transfers

Using balance transfers to pay off credit cards is a strategy that many people use. When using this tactic cardholders should use both the old and new card responsibly.

When you use one credit card to pay off another you are doing what is known as a
balance transfer. Many consumers use the balance transfer as a way to keep from becoming delinquent on their credit card payments. Theoretically, you can keep transferring balances between credit cards indefinitely as long as you have a credit card that allows the transfer.

Different credit card issuers have different terms regarding a balance transfer. The most important of these terms are the interest rate to which the balance transfer is subject, the total amount that can be transferred, and any fees associated with the transfer. When you are making a decision about transferring a balance to a credit card these are the primary factors that you should consider. Each of these factors has an effect on the amount you will end up paying for transferring the balance.

The ideal credit card for transferring balance is one that has a zero percent APR, a high limit allowed for the balance transfer, and no fee associated with the transfer. With these conditions in place, you are able to transfer a credit card balance for free.

If you are looking for a way to pay down some of your credit card debt, using a free balance transfer is the best way to do so. By transferring your credit card balances to a credit card that does not have associated interest rate or fees, you can pay off balances easier. You can find a lot of help here http://www.balance-transfer.com/.

When you do a balance transfer, you should close out the old credit card account immediately. Doing this will curb your spending, ensuring that you do not become deeper in debt.

Another rule of thumb to follow when you are working with balance transfers is not to use the new card to make any purchases. Once you have transferred the balance to the credit card, you should put it away. Don?t use the card until you have completely repaid the amount of the balance transfer. If you use the card to make purchases, you have nullified the benefits of transferring the balance to a new credit card.

If you use a zero percent APR credit card for the balance transfer, you must make sure you are aware of the terms and conditions of the credit card. In many cases, you lose out on the advantage of not having an interest rate if you make a single late payment.

You should be aware that transferring balances might not necessarily improve your credit rating or standing with the credit reporting agencies. Since credit bureaus look at your total balances and available credit, juggling debts does not improve your credit score. In fact, if you have too many credit cards open at one time, your credit score could be negatively impacted.

There are pros and cons to using balance transfers with credit cards. Using them responsibly can help a great deal. Abusing the privilege might put you in a worse situation than you began with.

Fruzsina Csery is a freelance copywriter. She occasionally writes for Credit Card Balance Transfer

Perils Of Repeated Balance Transfers!

The Balance Transfer Method used to provide an excellent system for reducing debt by transferring the costs of financing to the credit card companies or credit card issuers. However, since this practice quickly became widespread, certain measures where taken by credit card companies in order to discourage it.

Balance Transfer Debt Reduction System

The procedure is rather simple: By taking advantage of Free Balance Transfer and 0% APR Promotional Periods one can transfer the balance of high interest credit cards to these new cards and use the promotional period to pay as much money as possible towards the balance while it doesn?t generate interests.

Once the promotional period is about to end, the balance is transferred to another credit card and again, the consumer pays as much as possible so as to reduce the balance by taking advantage of the no-interest promotional period. It?s just like borrowing money without having to pay interests on it.

New Credit Card Stipulations

In order to discourage this practice, credit card companies have included new clauses that tend to make this procedure ineffective. For instance, some credit cards offer a 0% APR promotional period only for the part of the balance generated by new purchases. This makes transferring balances from one credit card to another highly inefficient unless the new card has a lower interest rate than the previous one.

Another common stipulation is that the 0% interest rate promotional period is only valid if the client makes certain amount of purchases during the month. This generates income for the credit card issuer and may or may not affect your finances depending on whether that purchases where already budgeted or not.

Other cards charge a certain amount for balance transfers during the promotional period. Thus, unless the money you save on interests is more than the fee you are paying for transferring the balance, you would be losing money by implementing the balance transfer debt reduction system.

Further Problems That May Arise

Another serious problem that may affect you by using this procedure can occur if because of too many credit card applications, your credit score drops too much and you can?t get approved for a new credit card. After the promotional period these cards tend to charge a high interest rate and do not offer low minimum payments.

So, if you are unable to pay even the minimum payment on your credit card, you?ll be defaulting and this will ruin your credit because credit card companies always report to the mayor credit bureaus and this delinquency will be recorded into your credit report. Thus, this procedure should be used only once when you feel certain that you?ll be able to take advantage of the promotional period by repaying the full balance. Otherwise, you should better stick to a low rate credit card.

Kate Ross is a professional consultant with fifteen years in the financial field. She helps people in the process of securing personal loans, mortgage, refinance or consolidation loans and prevents consumers from falling into financial scams. Smart tips and interesting articles on this subject and other financial related topics can be found at Speedybadcreditloans.com

All About Credit Card Balance Transfer

In our daily lives, we often encounter problems which concern the family, work, business, and many other things. The most commonly encountered quandary is financial problems.

Most working professionals have credit cards, and sometimes these gives way to debt problems. The best possible solution for most of them is to jump at an offer which promises a lower APR, but you should be extra cautious in dealing with such offers.

A balance transfer simply means moving the balance from your existing credit card to another credit card. This is usually taken advantage by most people because of its very low rate of interest compared to the old card issuer.

There are companies which make credit card their business, and competition among them is becoming more intense. The need to stay in the market and stay competitive as ever, has brought about the introduction of balance transfer among credit cards.

You have to be cautious in any decision that you will make. A good choice is one that offers zero percent APR, but this is just an introductory offer. After a specified period, the interest rate charged changes. So before making an abrupt decision, be sure that you have read all the terms and conditions of the card issuer.

There are certain things to consider for a balance transfer with 0% rate:

- the interest rate after the 0% introductory rate expires
- understand the fees, terms, and conditions
- don't forget the 'fine print'; most people skip that part, but it is equally important to read that part unless you want to pay unexpected fees in the future
- simple reading is not enough, you must 'understand' all the terms, rates, conditions, and other important matters
- take note of the day when the introductory rate will end

Applying for a balance transfer can also save you money. All you have to do is to move all your card balances to the new credit card bearing low rate of interest to achieve utmost savings. Some credit cards offer cash back, points or rewards when you make purchases using your new credit card.

You can make a balance transfer with your bank cards, personal loans, gasoline cards, charge cards, and department store cards.

You also need to close your old credit card. Once you sign up for a balance transfer, you should continue paying your debt while the balance is still pending. Call your old credit card issuer once the balance transfer is confirmed, and make sure that you get a 0 balance from your old company. And finally, you need to close your account.

Once you have your new credit card, don't just make minimum payments. Pay more money each month until your balance reaches zero. You can also make extra payments, and remember to never be late in making any payments. Above all, use your card intelligently.

You should also be aware of the fees being charged for late payments, cash advance fees, flat fees, and fees for balance transfer, and fees charged if you exceed the credit limit.

Keep track of your expenditures so that you can minimize your bill. If you constantly make unnecessary purchases, your debt is sure to grow rapidly. Be responsible in any action that you undertake, and think of its consequences.

Aaron Ballantyne is the owner of a credit card website with links where you can apply for a credit card which best suits your needs.

Best Credit Card Balance Transfer Rate: It Pays to Shop Around

Smart shopping for 0% APR credit cards can save consumers hundreds of dollars in interest charges. Many consumers do not think to shop around for credit cards. However, with 60 percent of grocery store purchases being made with credit cards, the decision as to which card the consumer uses can have an impact on how much is paid in interest. One way you can save money in interest charges is to shop around for a 0% APR credit card to transfer existing balances to. The concept of shopping for the best interest rates is not new for purchases such as homes and cars, but so few consumers stop to think about shopping around for the best credit card deal.

0% APR credit cards save consumers money

It is possible for you to save hundreds of dollars a year by transferring balances to a 0% APR credit card. Here is how it works: A consumer applies for a new credit card with a special introductory interest rate of 0% APR for balance transfers. After gaining approval, the consumer transfers the balance of his or her credit cards to the new card. Some companies may waive the balance transfer fee, but a standard fee is usually a small percentage of the transferred balance. Whether the old card has a low 8.9% APR, or whether it has a higher 15.9% APR, the potential savings are well worth the transfer. For the entire introductory period (usually 6 to 12 months) it is possible for consumers to avoid paying interest on their credit card debt.

Sorting through 0% APR credit card deals

Some web sites provide you with an objective way to look at credit card offers. It is even possible to use a calculator to figure out how much you can save by transferring balances to a 0% APR credit card. Consumers receive the information they need to help them decide on the credit card balance transfer offer that works best for them. Objective side-by-side comparisons allow a more complete picture of available credit cards. When you find a card you like, it is also possible to apply for that card instantly from the web site. Helpful links to the credit card companies allow you to receive instant approval on their credit cards.

A word of caution

A 0% APR credit card balance transfer is a financial tool that can greatly benefit consumers. However, as with all financial tools, it is important to use it wisely. Consumers should be aware that failure to pay at least the minimum payment on time can result in an immediate end to the introductory period. Many credit cards, however, provide an automatic debit system or an online bill pay option. This can help consumers set up automatic payments that ensure that there are no late payments.

Shopping around for the best bargain is a way of life for many. Applying that rule to credit card applications can mean that you get to keep more of your hard earned cash.

Copyright Ed Vegliante. Free online reprints of this article are allowed provided the resource box remains intact with a live link back to http://www.credit-card-surplus.com .

Please click here to find a Balance Transfer Savings Calculator.

Ed Vegliante runs the website http://www.Credit-Card-Surplus.com , a well organized credit card directory enabling the consumer to compare and apply for a variety of credit card offers. View more Credit Card Articles