Balance Transfer Credit Card

Money Transfer : Spreading The Speed Of Convenience

2008-05-13T00:02:00.000-07:00

One of those times when you need to bail out your pesky teenager from a scrape while on his adventures on another backpacking trip, Money Transfer is the biggest help you can provide. Worst case scenarios like this aside, international Money Transfer is more than 150 year old financial practice that involves sending money from a country to another via transfer which has more or less has turned electronic these days.

The best part about money transfer is that the recipient gets the money in a matter of minutes, depending upon the remoteness of the destination location. Nowadays, no matter how remote the place where your friends or relatives are stuck, there ought to be a money transfer service operator within 15 km radius!! You need not even have a bank account to transfer or access the money!! Often the service is available throughout the week and at almost all hours.

Besides, money transfer is considered the safest way to transfer money because in case of most operators, the money is constantly tracked via a unique ID. This ensures that not only the money is collected only by the person for whom it is meant, but also its speedy remittance.

Most international money transfer companies have launched their online operations as online money transfer is becoming more and more popular. With the full advent of the age of e-commerce, it was inevitable. Transferring large or small sums of money is a matter of few clicks now, as customers sit in the comfort of their home and do most of their banking online.

No matter which money transfer service you use, they all are extremely professional, super-quick and very easy to operate. If security, speed and convenience is your priority, online money transfer takes the cake any given day. Just sit back, relax and leave all your money transfer worries to these services.

Get more help on money transfer and online shopping.

Money Is Not Made or Lost, It Is Just Transferred

2008-05-13T00:01:00.000-07:00

Money is not made or lost? it is just transferred from one person to another. As hard as you may want to try, you will never be able to make any money. Even if you could, it would be illegal to do so; only the government makes money. The rest of us can just get it and move it around.

The good news is that you can also never lose money. If you do not have it, rest assured that someone else does.

But you can actually get all you want, even more than you want, if you know how to do it. Oprah and Trump know, and they use their knowledge to make themselves billionaires.

Do you know the 7 things that EVERYBODY wants? If you can find a way to give people at least one of these seven things, you can get as much money as you desire:

* more money

* less work

* more fun/sex/adventure

* less weight

* more success

* less stress

* more love

There are people who have all the money they want to spend. If you want to get rich, give people with money something to spend it on. The secret is that they must get MORE than they pay for.

Establish the value of what you have up front. Then offer it to people in a way that gives them more value for their money; more than the dollar amount they actually spend. If this also provides profit for you, what you have is a ?win-win? situation!

Kaleem Abdullah is a writer, network marketer, and radio broadcaster.

The Wave Of The Future! Electronic Walk-In Bill Payment Services, Internatioanl Money Transfer, Prepaid Debit Cash Loading & Cellular Phone Services

2008-05-11T23:21:00.000-07:00

The Wave Of The Future! Electronic Walk-In Bill Payment Services, Internatioanl Money Transfer, Prepaid Debit Cash Loading & Cellular Phone Services For Merchant Retailers.

Here's How Retailers Are TurboCharging Their Businesses For The Road Ahead With Walk-In Bill Payment Services-Prepaid Cellular Phone Services, Plus More!. Your Niche!, By Defining Merchant Retailers Into Need Fillers!.

Wireless Direct Now Offers Electronic Bill Payment Service Money Solutions; Retail Licensing Provider of Bill Payment Service & Cellular Provider Services Technologies.

Shorewood, Wisconsin -- The electronic age has been bridged by a new electronic bill payment service now offered through Wireless Direct, Solutions for Retailers. The service is called Pay All Bills and provides "one-stop" convenience for anyone needing to pay any bill.

The entire process is completely safe, reliable and underwritten by an F.D.I.C. insured bank. Rather than purchasing a money order, finding an envelope, purchasing a stamp, and taking the bill to the post office, a person, by taking that bill or statement to Merchant Retailers, can become an established bill payment customer and pay any bill that is payable to any biller. The entire bill payment process is completed at one convenient location. The Pay All Bills system is a nationwide, Internet based solution allowing Merchant Retailer Customers to make it an easy choice for any person to pay any and all of their bills, month after month. The system utilizes relationships with thousands of commercial billers in various industries that have agreed to accept payments electronically. Additionally, any biller not currently participating in our electronic network will be contacted by the service to discuss details about how their business can become eligible to receive payments electronically, thereby enhancing their customer service.

Time frames for payment settlement vary between billers, most as quickly as two business days, depending on whether the biller can accept electronic remittance. Even if a biller cannot receive an electronic payment, still forwards the funds to the biller.

"This process has been well received by billers and customers alike," said Kirk McLaughlin, CEO, Bank, Ralls, Texas, owner of the bill payment software. "Inexpensive electronic bill payment has been reserved for those with a bank account, until now. We are pleased to offer to individuals that do not have a banking relationship a way to conveniently pay bills, too," added McLaughlin.

More infomation about bill payment services & prepaid wireless cellular providers can be found at: http://www.prepaidwireless.2ya.com

One Stop Shop Money Solutions: http://www.prepaidwireless.walkinmoneysolutions.com

Contact: Prepaid Wireless Direct
Communications Director
Wireless Direct
Box 71101
Shorewood, Wisconsin
1-877) 947-3577
1-877-(WireLSS)

End

Think about it. This is all about how to increase traffic by deploying innovative strategies to make retailers more competitive with greater option innovations in technology, that hold the promise of generating additional capital to allow retailers to compete more effectively and allow merchants to be more effective pursuing the detail of retail. More infomation about bill payment services & prepaid wireless cellular providers can be found at: http://www.prepaidwireless.2ya.com One Stop Shop Money Solutions: http://www.prepaidwireless.walkinmoneysolutions.com

Paypal Offers New SMS-Based Money Transfer Service

2008-05-09T23:05:00.000-07:00

PayPal has just launched a new service called PayPal Mobile. This service allows a PayPal user with an active mobile phone account to send a payment to another PayPal account -- even another mobile user with a PayPal account. Of course the PayPal user at the other end of the transaction could be either an individual or -- more importantly -- a merchant.

This system clears the way for PayPal to enter the potentially massive "micro-payment" market. With PayPal Mobile anyone with a PayPal account could pay electronically for goods purchased from any merchant also having a PayPal account. Of course this capability already exists, but most PayPal users are stuck with making PayPal transactions using their computers.

** SMS-based payment system

PayPal Mobile is mobile phone and SMS-based, which means you use text messaging to send the payment. That completely frees the user from dependence on his or her computer to access his or her PayPal account.

PayPal Mobile payments are sent by sending a text message to 729725 (paypal), and then keying in the amount and destination of the payment. The destination can be another mobile number, a regular land-line number, or the person's email address (the one registered with PayPal).

The new system currently only works with mobile phones in the U.K., U.S., and Canada, but is expected to expand to other countries once the bugs are worked out.

To make use of this system, you need an active PayPal account. Login into your account and go to your Profile. Click on Phone, and then click on the "Activate Payments" link. You will be asked to enter a PIN, and will be phoned at your number to confirm your activation.

Normal land-line numbers can be activated too, but of course, text messaging will not work with these. To send money by voice or keypad using your land-line, you call 1-800-4PAYPAL. Once the payment is sent, the person you are sending the money to will be notified by either an automated phone call, or by email.

** Potentially valuable for offline merchants

The important thing to notice about this is that it lets a merchant associate a normal land-line number with his or her PayPal account. So say you're an antique dealer in Toronto. A customer wants to buy something from you and says "Do you take PayPal?"

"Sure", you say, "Just send the payment to 416-123-1234". While he's standing in front of you your customer uses his cell phone to call PayPal and has the payment sent to your number. A minute later you receive an automated call informing you of the payment. And just to make sure, you check your online account to see if the funds have been transferred.

** PayPal is targeting mobile users

It is fairly obvious who PayPal is targeting with this new text messaging payment service. It is a perfect fit for cell phone users who regularly use text messaging, and who also regularly buy things requiring fast, hassle-free micro payments. Digital music is the most obvious example.

Other micro-payment systems are typically tied in with cell phone companies, payment processing companies that focus on merchant services, or in-house solutions like those provided by iTunes. That's all right if you deal with a limited number of vendors. But for customers who want to use this service for several vendors, they are forced to use a mish mash of payment processors depending on the merchant they are dealing with.

Clearly there is a need for a reliable third party system that stands apart from specific merchants, specific banks, and specific credit card companies. A payment processing service provided by a broadly-used and legitimate money clearing house like PayPal seems like a pretty good idea, and one that has the potential to seriously increase the PayPal user base at the same time.

Rick Hendershot publishes Linknet News | Reduce mobile phone costs - Free tips and secrets | Free sms service - Send gsm sms to German mobile phone users.

How To Make Money Using RSS Data Transfer

2008-05-09T01:15:00.000-07:00

RSS, (Really Simple Syndication) has become so popular today and is being referred to by internet users as "Pull" Technology rather than "Push" Technology.

It's difficult to imagine that anyone who logs on to the Internet has not heard of "Spam." Most, If not all Internet users are inundated with these advertisements, that we did not ask for or request.

For those of you that may not be familiar with the term, rest assured we're not talking about canned meat here. LOL! Rather, it is unwanted advertising from people that we neither asked for or requested to recieve. Spam is "Push" technology. "Pushed" in your face and inbox, wanted or not.

Many believe this brand of "Push" technology is or will be, the death of email. Yet, as long as there are individuals and companies that continue to use the illegal spam process, email will be around for a long long time. The irony being, companies are raking in millions, selling spam solutions, to people and big corporations, that are Not Working!

RSS, is the Total Opposite of the above "Push" technology. When subscribing to an RSS Feed, subscribers "Pull" information into their RSS Readers and can only be done so if someone voluntarily subscribes to a particular RSS Feed. If they find it's not the information they want, they can simply unsubscribe and never have to recieve another message from the owner of that particular feed. Hence the term "Pull" Technology.

Utilizing RSS "Pull" technology has become a popular source of income for webmasters that use RSS Feeds on their websites. Here's How:

Let's say, you set up a one page mini-site or you could even set up a Blog. A Blog would be a quick and easy alternative.

You can then host ads from either Google Adsense or the New Yahoo look alike Google Ads. When someone visits your page and clicks one of your ads, You Get Paid.

If you've followed along and done the steps above, you've created a good starting place. You're going to need to make sure your pages are optimized properly. This will ensure you get your page ranked high in the search engines. Like any site or page, the more targeted traffic you get, greater are the chances that someone will click your ads. Which increases your Income.

Now, by using the power of RSS you increase your pages earning potential. When you add an RSS Feed to your page, you convert it into an ever changing, dynamic web page. Bringing you an abundance of visitors who, in all probability will return to read it.

Especially if you add 10 or 15 RSS Feeds to your page. You will create a dynamic, ever changing, self updating page. Providing valuable content that readers will want to read, over and over again.

Any web page can be turned into a dynamic web page. Just use the free RSS creator software called "Carp" This is one of the most popular free versions and can be downloaded here: http://www.geckotribe.com/rss/carp/

After you set the program up on your website and added the proper code to your website, then you will need to collect RSS feeds that relate to the topic of your web page.

You've got your web page, It's topic is about writing articles. Go to Google News, Get their RSS Feed Code, Insert it into the designated Carp Coding, then make the necessary changes found below: http://news.google.com/news?hl=en&q=writing+articles&ie=UTF-8&output=rss

Same with Topix.net, adjust the code like this: http://rss.topix.net/search/?q=writing+articles&xml=1

Once you've got your web page uploaded, It will automatically pull in fresh content from Google and Topix about writing articles.

Do these things for any web page and watch your search engine ranking soar and also your Income!

Art Luff is Not a Marketing Genius or Guru. He's Just an Ordinary Guy Trying To Make a Go Of It In this World. Jump on Over to http://best-resale-deal-ever.com/ and Subscribe to his Informative Affilate Marketing Newsletter. His approach to Marketing affiliate programs will awaken your imagination and keep you coming back for more!

International Money Transfer

2008-05-08T01:43:00.000-07:00

In today's volatile currency markets, a small change in the currency rates, coupled with the high commission charged by most banks can make an enormous difference in the net currency amount received when converting your currency, you are placing what is possibly your life savings into someone else?s hands. Depending on the size of transaction, this could make a tangible difference of several thousand dollars; money you may prefer to put towards starting your new life! This can leave you exposed to the market fluctuations and could give you a handsome boost to your funds or put a big hole in your budget.

To start with you have several choices how you move your money:

1. Use your normal Bank and accept the charges and the fact that you may not be talking to an expert when you discuss the transfer.

2. Use a specialist international currency transfer company

3. Use a normal money transfer agent (again accept the charges)

4. Buy a huge amount of traveler?s cheques or take cash (not recommended)!!!

Lets discuss each one with a bit more detail:

Possibly the most important piece of advice I was given when emigrating was that the high street banks were not the best people to entrust with your money transfer overseas. How do you know that the bank teller has any idea what you are talking about (not being belittling but it probably isn?t an everyday service)? They charge commissions, transfer fees and then to cap it all off they give a reduced exchange rate.

Essentially, the high street money transfer agencies are similar to the banks. They may know more about the transactions but will hit you with commissions, charges and not the best rates.

Travellers cheques and cash speak for themselves ? don?t do it! They are easily lost/stolen, some countries only allow a limited amount of cash to be carried into the country and in the case of travelers cheques, you may have to pay to buy them and then to cash them in. Just plain don?t do it!!!!

Last, but not least, it?s the international currency transfer companies. I had no idea that international currency transfer specialists even existed, never mind the exceptional services on offer.

Naturally, securing the very best rate of exchange becomes all important. There are several money transfer companies that offer an alternative to the banks ? in fact ?alternative? is too weak, they outclass the banks by a mile! When we first heard about the services on offer it really did seem to be too good to be true and we were very skeptical. We thoroughly researched the major high street banks in the UK and the rates they were offering (adding the fees and commissions!) and then compared to the service we were offered. Again, there had to be a catch.

The transfer company had no commissions, transfer fees and also gave a rate that was close to 3 cents to the pound better than the banks. All the funds would be transferred electronically to the bank account of our choice normally within 2 working days. We were even offered a choice of payment methods which included direct debits/debit cards/electronic wire transfers and the ability to ?book? a rate in advance for a small deposit and then pay the balance prior to the contracted transfer date.

We had to find out how these people could offer such a service so quite bluntly asked. The answer was very simple. This was a dedicated, specialist company that dealt on the Forex markets in large volumes ? this meant that there would be a low profit margin on each individual deal but the overall volume made it worth while. Because they are a specialist company, they could pass on the savings to their customers and the use of modern, electronic transfers ensured the costs were low with no need to pass them on to us! A true Win-Win situation.

The other added bonus is that these people are dedicated foreign exchange experts who research the markets and accurately forecast the trends and can advise action accordingly. If it makes sense to ?book? a rate for settlement up to 2 years ahead then that will be recommended ? you pay a deposit and commit to the deal and then they buy the currency at the agreed rate of the day. They hold the currency on your behalf and then at the agreed date you pay the balance and the money is transferred. This protects you against fluctuations and allows you to budget accurately.

About The Author

Dave Lympany immigrated to Canada in 2003 and has constructed a free information website http://www.onestopimmigration-canada.com about Canadian Immigration and life in Canada based on his family?s experiences.

How To Make Money Using RSS Data Transfer

2008-05-07T04:20:00.000-07:00

RSS, (Really Simple Syndication) has become so popular today and is being referred to by internet users as "Pull" Technology rather than "Push" Technology.

It's difficult to imagine that anyone who logs on to the Internet has not heard of "Spam." Most, If not all Internet users are inundated with these advertisements, that we did not ask for or request.

Utilizing RSS "Pull" technology has become a popular source of income for webmasters that use RSS Feeds on their websites. Here's How:

Let's say, you set up a one page mini-site or you could even set up a Blog. A Blog would be a quick and easy alternative.

You can then host ads from either Google Adsense or the New Yahoo look alike Google Ads. When someone visits your page and clicks one of your ads, You Get Paid.

Like any site or page, the more targeted traffic you get, greater are the chances that someone will click your ads.

Which increases your Income.

Especially if you add 10 or 15 RSS Feeds to your page. You will create a dynamic, ever changing, self updating page. Providing valuable content that readers will want to read, over and over again.

Any web page can be turned into a dynamic web page. Just use the free RSS creator software called "Carp" This is one of the most popular free versions and can be downloaded here:

http://www.geckotribe.com/rss/carp/

After you set the program up on your website and added the proper code to your website, then you will need to collect RSS feeds that relate to the topic of your web page.

You've got your web page, It's topic is about writing articles. Go to Google News, Get their RSS Feed Code, Insert it into the designated Carp Coding, then make the necessary changes found below:

http://news.google.com/news?hl=en&q=writing+articles&ie=UTF-8&output=rss

Same with Topix.net, adjust the code like this:

http://rss.topix.net/search/?q=writing+articles&xml=1

Once you've got your web page uploaded, It will automatically pull in fresh content from Google and Topix about writing articles.

Do these things for any web page and watch your search engine ranking soar and also your Income!

International Money Transfer

2008-05-06T00:16:00.000-07:00

International Money transfer is an essential part of your international move and/or business, which, if handled correctly can boost your bottom line or settling funds dramatically. Anybody looking to move overseas, send money to family or conduct business with an overseas company will need to purchase or transact in the destination currency. In order to complete any property acquisition ahead of your move or just simply transfer your existing assets over to your new country, the method you choose will make a big difference.

In today's volatile currency markets, a small change in the currency rates, coupled with the high commission charged by most banks can make an enormous difference in the net currency amount received when converting your currency, you are placing what is possibly your life savings into someone else?s hands. Depending on the size of transaction, this could make a tangible difference of several thousand dollars; money you may prefer to put towards starting your new life! This can leave you exposed to the market fluctuations and could give you a handsome boost to your funds or put a big hole in your budget.

To start with you have several choices how you move your money:

1. Use your normal Bank and accept the charges and the fact that you may not be talking to an expert when you discuss the transfer.
2. Use a specialist international currency transfer company
3. Use a normal money transfer agent (again accept the charges)
4. Buy a huge amount of traveler?s cheques or take cash (not recommended)!!!

Lets discuss each one with a bit more detail:

Possibly the most important piece of advice I was given when emigrating was that the high street banks were not the best people to entrust with your money transfer overseas. How do you know that the bank teller has any idea what you are talking about (not being belittling but it probably isn?t an everyday service)? They charge commissions, transfer fees and then to cap it all off they give a reduced exchange rate.

Essentially, the high street money transfer agencies are similar to the banks. They may know more about the transactions but will hit you with commissions, charges and not the best rates.

Travellers cheques and cash speak for themselves ? don?t do it! They are easily lost/stolen, some countries only allow a limited amount of cash to be carried into the country and in the case of travelers cheques, you may have to pay to buy them and then to cash them in. Just plain don?t do it!!!!

Last, but not least, it?s the international currency transfer companies. I had no idea that international currency transfer specialists even existed, never mind the exceptional services on offer.

Naturally, securing the very best rate of exchange becomes all important. There are several money transfer companies that offer an alternative to the banks ? in fact ?alternative? is too weak, they outclass the banks by a mile! When we first heard about the services on offer it really did seem to be too good to be true and we were very skeptical. We thoroughly researched the major high street banks in the UK and the rates they were offering (adding the fees and commissions!) and then compared to the service we were offered. Again, there had to be a catch.

The transfer company had no commissions, transfer fees and also gave a rate that was close to 3 cents to the pound better than the banks. All the funds would be transferred electronically to the bank account of our choice normally within 2 working days. We were even offered a choice of payment methods which included direct debits/debit cards/electronic wire transfers and the ability to ?book? a rate in advance for a small deposit and then pay the balance prior to the contracted transfer date.

We had to find out how these people could offer such a service so quite bluntly asked. The answer was very simple. This was a dedicated, specialist company that dealt on the Forex markets in large volumes ? this meant that there would be a low profit margin on each individual deal but the overall volume made it worth while. Because they are a specialist company, they could pass on the savings to their customers and the use of modern, electronic transfers ensured the costs were low with no need to pass them on to us! A true Win-Win situation.

The other added bonus is that these people are dedicated foreign exchange experts who research the markets and accurately forecast the trends and can advise action accordingly. If it makes sense to ?book? a rate for settlement up to 2 years ahead then that will be recommended ? you pay a deposit and commit to the deal and then they buy the currency at the agreed rate of the day. They hold the currency on your behalf and then at the agreed date you pay the balance and the money is transferred. This protects you against fluctuations and allows you to budget accurately.

The author immigrated to Canada in 2003 and has constructed a free information website http://www.onestopimmigration-canada.com about Canadian Immigration and life in Canada based on his family?s experiences.

Playing the Balance Transfer Game

2008-05-03T02:07:00.000-07:00

Every day when you go to the mailbox there it is: another offer from a credit card company to transfer your high interest account to a lower or 0% rate with a different card. Should you take this offer? Can you lift the nagging burden of monthly fees, compound interest, and a heavy debt load by transferring your balance? The answer is a resounding maybe.

There are pros and cons to playing the balance transfer game. And those who don?t know the rules of the game will lose without even knowing that they are playing. The main reasons to consider transferring your high interest credit card balances are: short-tem relief, emotional relief, and long-term interest savings.

Transferring for Short-Term Benefits

Lower monthly payments: If you currently owe $3,000 on a card with an 18% APR, then it would cost you $275/month to pay off your debt in one year. If you transfer to a card at 0% intro APR, you can pay off the same card with monthly payments of $250 per month. So anyone struggling to meet their monthly bill will gain some immediate relief. So how can this be bad?

As with any short-term fix, you pay on the other side. First of all, beware of any balance transfer fees. Some card issuers charge a service fee when transferring balances over to your new card.

What a Relief: The emotional component of credit card debt is very powerful. For many consumers the idea of finally getting out from under the debt they have been carrying is enough motivation to grab at any attractive offer they see. Unfortunately, most people who latch onto balance transfer offers for this reason find themselves trapped by the same lifestyle choices that allowed them to ring up debt in the first place.

One down side of transferring your balance is that most people feel so much better they are ?freed? up to go out and start spending again. Also, most consumers who transfer balances will only pay the minimum balance, so it takes them more time, and therefore more money, to pay down the balance.

Playing the balance transfer game is a lifelong hobby, as you must constantly look for cards with lower rates, and constantly switch credit card companies, rather than ever paying off the debt.

Long Range Results

Impact on Your Credit Score: Unfortunately, one of the least understood rules of the Balance Transfer Game is the Credit Score Penalty. Every time you apply for a new credit card your FICO score is lowered. This is the score used by credit card companies and mortgage lenders to determine the rates they will offer you. So you may be transferring to a lower APR today, but raising the rates you will be offered tomorrow.

Interest Does Matter: The question that you need to ask is ?How can I ensure I am getting the best possible interest rates today and in the future?? As shown in the example above, your interest rate will have a direct effect on the amount of money you pay out over the years. Just don?t be tricked into thinking that you are locking in a lower rate when you transfer that balance. Balance transfers do not affect future purchases, and they are only effective for a set period of time.

So the way you handle your credit cards today is a better indicator of your long-term payments that the attractive rate dangled in front of you today. By the way, the same credit card company trying to lure you away from the competition today will be checking your credit score in about six months to see if they should raise your interest rate.

Bottom Line on Balance Transfers

Ultimately the bottom line on playing the balance transfer game is buyer beware. It is a game that may offer some short-term relief, but also stiff penalties for the uninformed. The smartest players will make their moves based on information, facts, and a plan for protecting and improving their future credit dealings.

Steven Moy is a contributing editor for various websites related to credit and personal finance. You can see some of his work at http://www.apexcreditcards.com and http://www.creditservicer.com

What They Don't Tell You About Cash Advances, Balance Transfers, and Convenience Checks

2008-05-01T01:25:00.000-07:00

The smart consumer selects a credit card by matching their lifestyle, spending and payment habits. Other consumers play the cash advances and balance transfer game, expecting short-term relief or hoping to gain a quick profit. After all the hidden fees, accumulated interest , and minimum payments due, the consumer will have to pay a higher percentage of the total borrowed amount back within a short-time period, or risk accumulating charges and increasing the balance tremendously. At this point, there is no reasonable rate of return that can fulfill any expectations.

When the consumer takes a cash advance, they almost never get a ?grace period?, even if the card normally has one; interest is charged as soon as they take the advance. Interest on cash advances are often charged at a higher rate than interest on a purchase. On an average, a cash advance fee is between 1% and 2% of the amount of the advance. Be real careful, many credit card companies have surcharges for cash advances, and or they charge a higher interest rate compared to charges that are made to purchase goods and services directly.

A balance transfer, often viewed as a cash advance by the credit card companies, is also subject to fees and interest as soon as the transfer is made.

For example:

Say you have a $1000 credit limit at 9% interest, and you take a cash advance of $100, and your interest rate on the cash advance is 25%. None of the payments will be applied to the higher interest rate until the complete amount from the regular charges is paid off.

CONVENIENCE CHECKS

Those unexpected checks issued by your bank that show up in the mail box at the right time. I hate to be the bearer of bad news, but those are not ?FREE?. They are referred to as ?Convenience Checks?. Even the most tempting offer is wrapped with hidden fees and traps that make the risk far greater than the reward.

Unfortunately, the consumer has to deal with the same pitfalls as they do with cash advances and balance transfers. Convenience checks start accruing interest on the balance immediately from the time its redeemed, unlike credit card charges, which are interest free if the consumer pay the charges off before the due date.

Some credit card companies may charge hefty fees just to issue the check, usually around 2 to 5% of the check amount. (Read the check and any the offer letter carefully, in some cases the bank may not list the interest, so it?s best to consult with the bank before accepting the convenience check).

The ?BIGGEST DISADVANTAGE? is if your card has an existing balance, and you make a payment, the payment will be applied to the lower balance first, at the current interest rate, before the payment is applied to the convenience check balance. That means the balance will continue to accrue unpaid interest as long as the consumer uses the card to make purchases. Any sort of late payment or default will usually cancel the 0% promotional rate and will often cause most consumers to be charged back.

?MAKING BETTER DECISIONS WILL ENSURE MORE SOLID RETURN INVESTMENTS?.

Letonio Franklin is a debt negotiation for Franklin Debt Relief. FDR specializes in using credit card negotiation to reduce credit card debt. Visit Franklin Debt Relief for more information about their debt relief help services.

The Basics of Credit Card Balance Transfers

2008-05-01T01:23:00.000-07:00

There simply isn?t one of us out there who enjoys paying the high interest rates on credit card balances, no matter how much money you have in the bank or make at your place of employment. I don?t know about you, but I always promise myself that whatever I charge during a billing cycle, I will pay off when the bill comes due. But when I open up the envelope from my credit card company, I realize that there are many other places my money could be well spent- and that means my balance doesn?t get paid in full, thus resulting in loads of pounds paid in interest. That?s why so many residents of the UK are taking advantage of the financial benefits of transferring their balances on a high rate credit cards to one with significantly lower (or even 0%) interest.

Credit card companies are in a desperate fight for your business, so they offer alluring programs (such as 0% interest on balance transfers for 6 months or so) so that you?ll take your old credit card balance and place it on one of their new cards. This is all done with the hopes that you will use your new credit card instead of your old one- hence the new company generates any interest on new purchases, not to mention the charges on your transferred balance when the special program expires. They want you to give them your business, never look back, and never again transfer your balance to another credit card company. Their begging can work to your advantage as long as you understand the basics.

There are mainly two types of credit card balance transfers, the first of which involves a very low interest rate, usually 0%, for a fixed amount of time, perhaps from 5 to 9 months. At the expiration of this time period, the company?s normal interest rate charges will apply, generally upwards of 15% or more. So be sure to stay on your toes, keep accurate records and switch your balances when the introductory rates expire to get the most out of these enticing rates and programs.

The other type of credit card balance transfers involves a low interest rate, maybe 5% or less, but maintains this same, nominal rate for the entire time required to pay off the transferred balance. Any new purchases will be subject to the card?s regular, significantly higher rate (again, around 15% or so), but if you have the self-discipline to not add any additional charges to this card, it can save the hassle of transferring your balances at every 6-month mark and still save you hundreds (or even thousands) of pounds over the life of your credit card balance.

John Fencik recommends that you visit http://www.creditcardexpert.co.uk/balance-transfers.php for more information on Balance Transfers.

Low Interest Balance Transfer Cards

2008-04-11T05:11:00.001-07:00

Balance transfer cards are taken by a customer to relocate their credit from one card to the other. This is generally the option when the person is unable to pay the balance at the end of the billing cycle. Hence, a card with a low interest is what the customer desires and desperately looks for.

There are many cards in the market presently available, which have a 0 % introductory interest rate. It is advisable to go in for cards with a maximum introductory period, so that the customer can try to pay the balance on the old card within the introductory period itself. Many companies that offer 0% introductory rate have exorbitant rates once the introductory period is over. The best bet in such cards would be to go in for a card that keeps the introductory offer on till the customer pays the entire previous balance.

When customers choose a balance transfer credit card they should ensure that transferring fees are waived. This card can be used for only clearing the balance while there could be a separate card for purchase. If the customer wants to use the same card for all purposes, then it is advisable to find out about the other benefits associated with the card. Some cards offer benefits such as travel insurance, extended warranties and auto rental insurance.

There are many credit card companies around that have good introductory offers on balance transfers, but the interest rates on purchases made are high. The customer might find that the high rate of interest in case of purchases has accrued, while the 0%, introductory offer, transfer balance is getting settled.

While shopping for low interest balance transfer credit cards, it should be ensured that they serve the basic purpose of lowering the customer's debit.

Low Interest Credit Cards provides detailed information on Low Interest Credit Cards, Best Low Interest Credit Cards, Low Fixed Interest Credit Cards, Low Interest Credit Card Offers and more. Low Interest Credit Cards is affiliated with High School Student Credit Cards.

The Cycle of the 0 Apr Balance Transfer Credit Card Routine

2008-04-11T05:09:00.000-07:00

The APR (or annual percentage rate) of a credit card is important as it determines the interest you are required to pay on the balance of your credit card from the company that issued it. Many people get in a jam where they have several cards they owe on and the interest is from 12-22 percent. They are not able to pay the balance each month so this really can add up.

In this situation ,it can be helpful to find out about the 0 apr balance transfer credit card. You probably receive these in the mail daily or weekly. Keep in mind that these cards are useful but they are time-limited. This means that after a certain period of time the 0 apr balance transfer credit card will go up to a normal or high interest rate and if you have a balance you will be required to cover this.

This can help slow down the rate which your credit card debt accrues but if you are spending more than you bring in in terms of income, this will regrow again. Each month you don't make the full payment but only make the minimum payment on your card, the leftover amount is charged the interest rate and this can grow quite rapidly , depending on your spending habits. Things get worse if you don't even make the minimum payment as you are then charged a late fee as well, so always make the minimum balance and keep track of the deadlines they give to receive the payment. Sometimes you can call them the last minute but that can resolve in a 10.00 or more pay by phone fee.

In conclusion the 0 apr balance transfer credit card is useful to move credit card debt from cards but the problem is that if you continue to spend more than you bring in to the point of only making the minimum payments with each statement. The same cycle can occur again.

Dee Cohen is a publisher and author at http://www.money-rocks.com/0-apr-credit-cards.html . Learn the best way to deal with the cycle of 0 Apr Balance Transfer Credit Card to stop juggling and moving debt around.

Get the Best Balance Transfer Offer

2008-03-30T22:39:00.000-07:00

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'

2008-03-28T22:30:00.001-07:00

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

2008-03-28T22:29:00.001-07:00

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

2008-03-27T22:20:00.000-07:00

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

2008-03-26T23:25:00.000-07:00

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

2008-03-26T23:24:00.000-07:00

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:

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.
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.
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.
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.
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.
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.
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

2008-03-24T23:14:00.001-07:00

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

2008-03-23T22:40:00.000-07:00

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

2008-03-23T22:39:00.000-07:00

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

2008-03-20T23:12:00.000-07:00

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

2008-03-19T23:30:00.000-07:00

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?

2008-03-19T01:18:00.000-07:00

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

2008-03-19T01:17:00.000-07:00

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

2008-03-17T23:42:00.000-07:00

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

2008-03-17T00:11:00.000-07:00

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

2008-03-16T22:59:00.000-07:00

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

2008-03-14T03:49:00.000-07:00

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

2008-03-12T23:15:00.000-07:00

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

2008-03-12T23:12:00.000-07:00

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

2008-03-11T22:19:00.000-07:00

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

2008-03-10T22:47:00.001-07:00

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

2008-03-10T22:45:00.000-07:00

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

Click Here to View Balance Transfer Credit Cards.

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?

2008-03-10T00:01:00.000-07:00

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

2008-03-07T21:37:00.000-08:00

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.

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

2008-03-05T22:36:00.002-08:00

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

2008-03-05T22:36:00.001-08:00

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

2008-03-04T21:45:00.000-08:00

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!

2008-03-03T21:57:00.002-08:00

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

2008-03-03T21:57:00.001-08:00

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

2008-03-02T22:14:00.000-08:00

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

Credit Card Balance Transfer: The Best Offer You Should Look For

2008-02-29T22:05:00.000-08:00

In today's society, people purchase all their everyday needs by using a credit card. You can pay for everything by using a credit card, such as your groceries, electric bills, and even gas for your car. Just imagine, by just having a credit card, you can purchase anything you want without having to carry cash around.

Basically, what a credit card offers is that you don't have to worry about not having the cash, worry about the credit card bills you have to pay after a month.

It is a fact that credit cards are a very useful tool that you can use today. However, owning a credit card also has its risk. Since people don't have to worry about purchasing things with a credit card, they tend to overdo it. Sometimes people get that urge to buy that new pair of shoes they really want but don't have the money for it. They tend to use their credit cards for it.

Because of this uncontrollable spending, people get into credit card debt. With a high interest rate credit card, this can be bad news. You will likely end up paying more on interest rather than paying the actual debt itself. So, one way to get rid of this debt is through credit card balance transfers.

Credit card transfer is one of the best ways and the easiest way to avoid high interest on your monthly credit card bills. If you have a number of credit cards, you can basically use the other credit cards to pay for your debt.

The first thing you need to do is choose the credit card with a low interest or zero interest rate. This credit card is the best card to transfer your balance to. With a low interest or zero interest rate, you will certainly save a lot of money and is the best way to get rid of the debt.

However, credit card balance transfer also has its drawbacks. Some companies charge a credit card balance transfer fee that can be as high as four percent of the debt. You should also make sure that you pay on time to avoid rise in interest rates. Also, you have to watch out for hidden fees, make sure that the credit card you are transferring your balance to doesn't have hidden fees that you will be required to pay for.

Certain low interest or zero interest credit cards has expiration periods on the low or zero interest rate introductory periods. It is important that you should learn when the introductory period will end to help your prepare for another credit card balance transfer to another card with low interest or zero interest rate.

In order to get the best credit card offers, you have to shop around for it. It is a fact that there are a lot of zero interest and low interest rate credit card offers, but you should also keep in mind that these offers are usually offered on a limited time only. Make sure you read the small print in order to understand the promo and know when the introductory period will expire.

As much as possible, you should always consider the credit limit on the card you are considering to transfer the balance to. When it exceeds the credit limit, you will likely pay additional charges and will also make the interest rate rise. These are the things you should remember when making a credit card balance transfer.

James has written many articles about the benefits of business and college student credit card offers and runs a website on locating the best credit card offers for your lifestyle

Credit Card Balance Transfer Can Help You Earn

2008-02-29T22:04:00.001-08:00

Credit cards can help you earn! Sounds unbelievable? Well, that is what the 0% credit card balance transfer has been doing. Nowadays, companies have bettered the introductory interest rate offer by throwing in extended 0% interest periods if holders of other competing cards choose to transfer their outstanding balances.

Credit Card Balance Transfer ? How Is It Done?

If you can juggle things right by taking up an introductory offer of 0% and then transferring the balance to another card with a similar scheme just when the old one is about to end, you could end up with significant savings!

Balance Transfer: Look before You Leap Unfortunately, things are not always that easy anymore. Credit card companies have woken up to the fact that wise debt managers are trying out different strategies to capitalize on 0% interest periods. Have all your bases covered by checking out the following points:

Balance transfer fees: You could be charged additional fees if you want to transfer your credit card balance. This rate can be as high as 2% of the balance transfers. If you are not careful, you might end up paying more in fees than if they charged you interest normally.

Additional perks: Be sure about what this 0% interest rate applies to - some cards offer a 0% interest on balance transfers but all your new purchases are charged at the normal rate from the very onset. While others charge 0% interest on purchases but balance transfers are subject to the standard rate. There is a third option, which is best, if you want to reallysave money with balance transfers ? cards that charge 0% interest on both balance transfers and purchases during the promotional period.

Late payments: Don?t miss the fine print regarding timely payments. Some cards have a rule that if you fail to make even a single payment by the due date then you have to automatically forego your promotional privileges!

Credit Card Balance Transfers User Guide

- If you transfer balances from one card to another, ensure that you are clear about how long the offer lasts, and when is the optimum time to switch to a better card.

- Read between the lines before investing in a new card. Verify the details in the card application agreement documents. In other words, don?t be fooled by the 0% interest pitch.

- Make sure you don?t get stuck with a card with a higher APR while in the process of getting a credit card balance transfer.

- Compare credit cards. 0% interest cards or low interest cards can be identified without much difficulty. However, access information sources that do not promote any specific card and they should help you make a wise choice.

- Go for a flexible and quick interest-free card when transferring balances.

Achieve Balance Transfer with Ease

Once you are armed with a new card, make sure this new company does all the legwork with your last card company. After the balance transfer has been conducted, resist the temptation to use your old card again. Then, all you have to do it make sure you keep paying your minimum dues at the end of each month,making you quite the balance transfer pro!

Robert Alan recommends that you visit CreditCardAssist.com for more information on how a credit card balance transfer can save you money.

Three Tips To Finding The Best Balance Transfer Options

2008-02-27T22:21:00.001-08:00

When it comes to balance transfers, there are many benefits for those that find just the right opportunity and take the best of them. There are plenty of opportunities here, though. The balance transfer is one of the best ways to save money in the long term and the short term. If you invest a bit of time in finding the best opportunity, you will find rewards in the long run. That is because these balance transfer credit cards are designed to save you money if and only if you use them correctly.

How They Work

A balance transfer credit card sounds like a good thing, but do you know how and when to use them? There are several key elements that come into play when you are considering them. So, take a look at these points.

1.Determine if the balance transfer offers a lower APR than you're currently getting. the annual percentage rate on credit cards is the most essential piece of the credit card puzzle. It indicates, as a matter of fact, what you will pay for the credit card purchases you make over time. On the balance transfers you are considering, determine what the rate is. If it is higher than you are currently paying, you are simply wasting your money by moving it. A lower APR is an opportunity to save.

2.Determine introductory APR's. One of the largest incentives is introductory rate on a balance transfer credit card, which is generally either 0% or comparably very low. This number is a crucial number to take into consideration. How long will you have to save? What is the APR after that introductory period is over? If you do not pay off the credit card within that introductory phase, you are likely to pay more than you are now in APR with the new card. If not, then this is an ideal choice.

3.Determine the credit limits. When applying for a credit card of any type, you need to consider if the credit limit meets your needs. If you are considering balance transfer credit cards, if they do not offer you a sufficient credit limit when you need to make the move, then it is worthless to you. But, in most cases, during your application phase the credit card company will ask if you are considering this feature. If so, then tell them how much you are looking to use a balance transfer for. It will not guarantee a higher credit limit, but it can't hurt to request it for that specific purpose.

Taking the time necessary to determine just what it is that you need, what it will cost you and who can offer you the best deal is what you would do for any purchase. Therefore, when considering a balance transfer credit card, your goal is the same. Take the time to analyze your needs. Determine which balance transfer credit cards are capable of providing you with the interest rates and credit and balance transfer limits that you need. Determine what it will cost you in the long term as well in order to determine if it is the best product for you. Then, select the most suitable balance transfers option that fits your needs.

When you follow this plan, you will find benefit and reward in balance transfers. If you do not use it, you may find yourself paying more and saving less than you originally intended.

Robert Alan advises that you visit CreditCardAssist.com to find out more about how a balance transfer credit card works.

Avoid the Pitfalls of Balance Transfer Credit Cards

2008-02-27T22:20:00.000-08:00

Balance transfer credit cards can be quite a temptation for a lot of people. People can now transfer the entire balance from other credit cards to balance transfer credit cards. These credit cards attract people by offering perks like low interest rates, and reward incentives for transferring a balance. However, people who are interested in these cards should do some research before deciding to go with this type of credit card. This is because this credit card can put people in a worse situation than they were.

People want to take advantage of balance transfer credit cards because these cards offer a low interest rate or no interest rate for a period of time. People can have a nice grace period to pay down their balance without any added fee. They can be free from a large amount of debt by budgeting out a plan that will lessen the debt balance before a new higher interest becomes active. Balance transfer credit cards can be a blessing to people who are smart enough to maximize these cards? advantages.

Many people use this type of card to consolidate all their credit card debts into one. These cards can make it easier to pay the balance and can also reduce the amount of monthly payments. However, people who do this can actually end up paying more. The reason for this is that even though balance transfer credit cards offer no or low initial interest rate, the interest will eventually increase. People should realize that when they choose to combine all their debt into a single large sum, they can pay a lot more once the interest rates increases.

Fortunately, people can avoid this problem by paying a significant amount of the balance before the interest rates go back up. It would also help if they can pay their monthly payments on time. Doing this means that they will not add to their balance. Staying on top of payments and setting a plan to pay off the debt is the best way to ensure that balance transfer credit cards help rather than harm. These cards are ideal for people who have an effective plan to pay off their debt. Balance transfer credit cards can enable people to deal with a single company, instead of dealing with multiple credit cards that have multiple interest rates, payment dates, and other fees.

Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Balance Transfer Credit Cards and 0% Balance Transfer Credit Cards. Get the information you are seeking now by visiting http://www.FindQualityCreditCards.com

The Power of Balance Transfer Credit Cards

2008-02-26T21:45:00.000-08:00

Have you given in to the temptation of balance transfer credit cards? You will be able to transfer the balance off other credit cards to balance transfer credit cards. You will then benefit from bonuses like low interest rates, and incentives for transferring a balance. But it would still be sensible to do your home work before deciding to go with this type of credit card. You see, these cards can worsen your financial situation.

Balance transfer credit cards will enable you to consolidate all your credit card debt into one. As a result, it will be easier to pay your balance and it can also reduce the amount of your monthly payments. However, you can actually end up paying more. Even though these credit cards offer no or low initial interest rate, the interest will eventually increase. When you choose to combine all your debt into a single large sum, you can pay a lot more once the interest rates increase.

You can pay a significant amount of the balance before the interest rates go back up to avoid this problem. You should also pay your monthly payments on time, so that you will not increase your balance. Staying on top of payments and setting a plan to pay off the debt is the best way to ensure that balance transfer credit cards help rather than harm. These cards are ideal if you have an effective plan to pay off your debt. Balance transfer credit cards enable you to deal with a single company, instead of dealing with multiple credit cards that have multiple interest rates, payment dates, and other fees.

These cards can offer you a low initial interest rate or no interest rate. Balance transfer credit cards will also give you a nice grace period to pay down your balance without any added fee. You can be free from a large amount of debt by budgeting out a plan that will lessen the debt balance before a new higher interest becomes active. If you are smart enough to maximize their benefits, balance transfer credit cards will become a blessing.

Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Balance Transfer Credit Cards and the Best Balance Transfer Credit Cards. Get the information you are seeking now by visiting http://www.GetQualityCreditCards.com

What to Look for in Balance Transfer Credit Cards

2008-02-25T22:54:00.000-08:00

Balance transfer credit cards can be quite tempting. They offer a person the opportunity to ditch those nasty high interest rate credit cards, while usually throwing in some nice incentives to sweeten the deal. However, a person should be fully aware that there is nothing magic about about balance transfers. It's not like your debts just go away.

A very common reason that an individual considers a balance transfer credit card is that they want to consolidate all their credit card debt onto one card. This certainly is a convenience and cuts down on the number of bills they they have to pay. But be careful, when people do this they may actually end up paying more. The reason for this is that even though these cards often offer no or low interest initially, the free ride does not last forever. The rates will go up. So when the introductory period is over, the rates could be even higher than what they were paying before.

The best way to handle this problem is to pay down as much of the debt as possible before the rates go up. It is also vitally important that a person makes their payments on time. And do everything in your power not to add to that balance. Staying on top of payments and setting a plan to pay off the debt is the best way to ensure that a balance transfer credit card does the person good rather than harm. Balance transfer credit cards are a wonderful asset for those that have fiscal discipline.

Instead of dealing with multiple credit cards, with multiple interest rates, payment dates and fees, a person is dealing with one company. In the beginning they will usually get a low interest rate, many times no interest rate. This gives them a nice grace period to pay down their balance without the added fees. By budgeting out a plan that will get the debt balance paid down before a new, higher interest rate kicks in a person will have freed themselves from a large amount of debt.

Balance transfer credit cards can most certainly be a blessing, if a person knows how to use them responsibly and to their advantage. A balance transfer credit card is a powerful ally in eliminating credit card debt. By all means put it to work for you, not against you.

Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Balance Transfer Credit Cards and Balance Transfer Business Credit Card. Get the information you are seeking now by visiting http://www.Find-Cards-Now.com

Reduce your Debt with Balance Transfer Credit Cards

2008-02-25T22:53:00.000-08:00

Watch the APR

If you don?t plan to pay the whole balance of the credit card, which is most likely, you will want to get the best deal possible on the APR. Search thoroughly, there are thousands of alternatives on the market, there are even cards offering a 0% introductory rate which you can benefit from.

But be especially careful as this kind of cards can sometimes increase significantly the interest rate charged after the introductory period has expired. You should have by then another credit card to transfer the balance to, or you should have already paid the whole balance by then. If you decide to transfer the balance from one card to another, make sure the new card has no interest, fees or costs for balance transfers. Otherwise you will end up paying even more than you expected to save.

Promotional Period

The best options are the cards that will remain charging the introductory rate till you payoff the whole balance completely. These are hard to find and not easy to qualify for, however, new offers are available everyday so do your research and try to get them. Lately, Credit Card companies are competing ferociously to get new clients and you?ll find many online sites with comparatives on what the different companies have to offer. Use these services and find the best deal available. There?s nothing to loose.

Transferring Fee

As stated before, when considering which card to get, make sure that it doesn?t charge you for transferring balances. After all, this is precisely why you?re looking for a card and it makes no sense paying an extra fee when you?re trying to save money by paying less interest. Most offers state ?0% Balance Transfer? which means that there is no interest charge over the transferred balance. However, in order to compensate for this, lenders charge a fee for the same purpose and though it is a single fixed fee it still adds up to your debt. So when you shop for a card make sure it is a 0% Balance Transfer Credit Card with no Balance Transfer fees or costs.

Other Costs

Moreover, be extra careful with all additional costs that the credit card companies try to conceal in the small print. Such things as renovation costs, issue costs, financial costs, bill issue costs, etc. are deceitful but not uncommon practices in the credit card industry.

Examine the small print

The APR is not the only thing that matters, sometimes, with lower rates come higher fees and costs to compensate. Don?t be fooled, read carefully all the documents concerning the contract, demand that all the costs and fees be revealed to you. Then with all this information, compare your options and make a conscious decision.

The path to a debt-free financial situation requires a first step. Getting a balance transfer credit card can be this step, but you need to follow this advice carefully and avoid being deceived by those who just want to persuade somebody to get another credit card.

Kate Ross is a professional consultant at Speedybadcreditloans 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. Also at http://www.badcreditfinancialexperts.com/article/ you can get more articles and smart tips on this and other financial issues.

Balance Transfers Primer

2008-02-14T01:05:00.000-08:00

Are high credit card fees giving you sleepless nights? Think smart: balance transfers could be an intelligent short-term solution. The following article can be used as an introductory guide and a primer on the use of balance transfers that discusses the intricacies of balance transfer details. Transfer the weight off your shoulders and get a balance transfer credit card with a lower rate of interest. However, make sure to run through the terms and conditions of the new balance transfer card, to make sure you win in the long run.

If you are not really keen on getting a new card, tell your existing company that you want to transfer your balance to another card that offers a much lower rate. Your existing credit card company just might offer you a better deal. If not, then go ahead and call the competition!

So what is so great about balance transfers? Balance transfers to a card with a lower rate can significantly cut down your interest and fees. The most common rate of interest offered by companies on balance transfers is 0% for 3 to 12 months. If you are fortunate and your credit is good enough, you might qualify for a 0% interest card for 12 months on balance transfers and purchases. Be aware, however, that some cards, will link the introductory annual percentage rate (APR) to the billing cycle of the card.

There could be some additional perks available on your balance transfer card as well:
1) Your new card may charge no annual fees.
2) The grace period on payments might be longer.
3) Rewards like cash back on purchases might be available.
4) Discounts from certain retailers, identity theft protection, and even car insurance can be thrown in as well!

How Do I Get One?

You will be required to go through some basic application procedures and paperwork on a balance transfer. You could write a balance transfer on one of the convenience checks that the card issuer will provide after getting approval on the card. These function just like normal checks but there are some things to be aware of, such as expiration dates. Time can cost big money, in this case, with the old interest rates snapping at your heels. How much you can transfer will depend entirely on the credit limit of your new card.

The fees for balance transfers are similar to that of cash advances, but often times, fees will be waived for the very best card offers. If there are associated transfer fees on the card, it is advisable that you avoid transferring small balances, as the transaction fees might undercut your potential savings. Some additional fees on these cards might include:

1) Late Fees: Once the introductory period on your balance transfer ends, you will start incurring finance charges on the remaining balance. Late fees on these card offers are particularly expensive. In order to avoid these exorbitant fees, make sure that you mail payment well in advance of the due date. If you are using an ATM deposit, stay informed about the processing time of your payment. Banks either charge a flat fee, such as $10 or $15, or a percentage, such as 5%, of the minimum payment due, for example

2) Over-Credit Limit Fees: Each time you charge your card beyond the credit limit, the bank has the ability to impose a fee. It is possible that many of these aforementioned fees will gather simultaneously (in addition to interest charges) during the same billing period! Banks usually charge $10 or $15 for this fee or up to 5% of the amount on the exceeded limit amount.

3) Lost Card Replacement Fees: If you ever happen to lose your card, some banks might charge you anything between $5 and $10 for a replacement.

The most important thing to remember regarding balance transfer credit cards is to make all your payments on time and pay off the outstanding balance within the introductory time frame. Usually, there is no grace period offered up for balance transfers and unless you have snapped up an introductory 0% APR, interest will begin to accrue immediately. The calculation can get a little tricky too. Your initial repayments will first go towards clearing the balance transfer amount before making a dent in any outstanding balance created from recent purchases with the card. So if you want to avoid this mess, keep a separate card for balance transfers and another one for regular purchases.

When the Joyride Ends

You should be keenly observant of the expiration date of your promotional offer. Once it ends, you will be charged the normal rate of interest. All remaining purchase and balance transfer amounts will be subject to a much higher APR and significantly higher finance charges.

Your credit history will determine your post introductory APR on your balance transfer credit card. So if this APR is higher than the rate on your old balance transfer card, you could incur more expensive finance charges if you carry a balance from month to month. Just make sure that you transfer your balance to a new card that offers both a lower promotional rate as well as a lower ongoing APR.

Robert Alan recommends that you visit CreditCardAssist.com for more information on 0% balance transfers.

The Ins And Outs Of Balance Transfers

2008-02-12T23:23:00.001-08:00

If you have a number of credit cards, or are looking to get another card, then it pays to know about the ins and outs of balance transfers. If you use balance transfers correctly you can save yourself a lot of money in interest payments on your debts. If you are uncertain about how to use balance transfers properly, then here is some advice on the ins and outs of balance transfer?

What is a balance transfer?

A balance transfer is simply where you transfer part or all of one credit card balance to another credit card. You are effectively using one credit card to pay off another one. For example, if you have one credit card with a ?1000 balance and another card with no balance, you could transfer some or all of that ?1000 onto the card with no balance.

How do I make a balance transfer?

Making a balance transfer is extremely easy, especially if you have online banking. IF you have just got a new card then it is likely that you will asked if you want to make any balance transfers straight away. If you do then you simply give your other card details to the new card issuer along with the amount you want to transfer and they will sort it out for you. Also, on most online banking systems there is a feature to allow you to make balance transfers at any time.

Costs of a balance transfer

Unless you have a special rate for balance transfers, there is usually a cost involved in making a balance transfer. These rates can vary, but are usually either a fixed fee or about 2% of the amount to be transferred. When transferring a balance it is important to take these charges into consideration, because it may cost you more than the money you are saving if you have to pay a variety of fees.

0% balance transfer offers

One good way to make balance transfers work for you is to get a card with 0% on balance transfers. These cards usually charge a fixed fee for transferring your balance, but offer 0% interest on the amount you transfer. This 0% rate usually lasts for around 6 to 9 months, during which time you will not pay interest on your transferred balance. This is especially good for people who are currently struggling to keep up with their credit card payments due to high interest rates. However, you must remember that new purchases on these cards will be charged at the standard APR, and that after the 6 or 9-month period you will have to start paying interest.

Consolidating balances

Perhaps the best way to use balance transfers to your advantage is to consolidate your credit card debts. If you have a number of credit cards with different interest rates and balances, then try and transfer as much as you can to the cards with the lower interest rates. This will save on your interest, and as you pay off the debt you card start to transfer more and more onto the lower interest cards. If you use balance transfers wisely then you can really reduce the interest that you pay and keep up with your credit card repayments.

Peter Kenny is a writer for creditcards-gb.co.uk Please visit us at 0% Balance Transfers and Credit Cards Visit http://www.creditcards-gb.co.uk

Guide to Balance Transfers

2008-02-12T23:21:00.000-08:00

Are you tired of fighting high credit card fees? Why not lower your interest payments by transferring your balance to another card. Balance transfers are one the smartest and easiest ways to reduce credit card costs. Just be sure you understand the terms and conditions of the new card, so you can maximize your savings.

The guide to Balance Transfers

Tired you from struggle against high payments of a credit card? Why to not lower your payments of interest, transferring your balance to other card. Transfers of balance - one smartest and most easy ways to reduce an expense of a credit card. Only be convinced, that you understand terms and conditions of a new card, thus you can maximize your savings.

Before you run out and switch credit cards, consider, whether you wish to hold your current card. If you do, simply ask lower interest rate. Tell your company of a credit card, that you have found other card with much lower norm, and you should transfer your balance if they cannot reduce you business. However, be it is ready to make so if they refuse your inquiry.

Why Use Transfer of Balance?

Transfers of balance can give to holders of a card set of advantages. Transfer of balances to lower credit card of norm can resolutely reduce your interest rate and payments. Charge of the companies of a credit card variable interest rates on balance passes also purchases. The most general norm - 0 percent for six within 12 months.

For example, the Limit of Prosecution Renumerates MasterCard and Platinum Choice Citi, MasterCard do not charge any interest within 12 months on transfers of balance and purchases. The found out Platinum Card and Visa Hess from Prosecution lower introduction norm after eight and six months, accordingly

Some cards connect introduction annual norm of percent (APR) with periodicity of exhibiting of accounts. Card GM and the Fifth Third Cashes of Bank Renumerate MasterCard, accordingly, charge APRIL for 0 percent for first six and four cycles.

Transfer of balances can give also to you access to a lot of privileges. For example, you can be able to receive a new card which has no annual payment, longer period of grace of payment or cashes back on purchases and other awards. Some cards also offer insurance of a car hire, the program of protection of larceny of identity and the money saving the discounts.

How To transfer Balances

The companies of a credit card usually use low transfers of balance of the interest rate to involve new clients. There are three main ways to transfer balance on a card. One way, simply filling the documents provided your new letting out card. Or you can contact the company of a credit card to which you wish to transfer balance and to arrange for transfer of balance.

You can move also the balances, writing transfer of balance or checks of convenience. These simple tests look also the certificate as regular tests. You simply write, that test transfers to quantity of balance and sends it to the company from which you wish to transfer balance. Some tests have a deadline of the expiration so make sure, that you use them within the limits of corresponding structure of time. If you will not be, you will be charge a regular set of the interest rate for your card.

Irrespective of what method of transfer you use, you can pass only so much, how many your limit of the credit on a card which you transfer, allows.

Operational Cost and Other Payments

Banks in general consider transfers of balance as cash advance payments and have similar operational payments. There is no payment for the balances transferred in reply to special offers. But for Platinum Choice Citi and many other things the companies, an operational payment for transfers of balance - 3 percent of quantity of each transfer of balance, with minimal and a maximum for 50 $ for 5 $. Keep in mind, that small quantity of the capital, probably, it is not necessary to pass, because the operational payment can move your potential savings.

In addition to standard operational expenses, banks also collect special payments which can take you unawares. Some of the most general special payments include:

Last payments - Some banks wait some days prior to an estimation of last payment, but many impose it day after payment should. The companies or charge a rent, type 10 $ either 15 $, or percent, type 5 of percent, the minimal due payment. To avoid last payments, mail from your payment, thus it arrives to a plenty of time before it should. If you pay your account in a branch of bank or the trading automatic device, learn, how it will be long required to process your payment. Sometimes the payments made in a branch or the trading automatic device are not given on credit within several days.

Payments "on a limit of the credit" - the Majority of cards estimates a payment if you charge more than your limit of the credit. These payments are collected each time when you are run through your limit, thus you could be amazed with several of them during the same period of billing. Banks typically charge 10 $ or 15 $ for this payment or up to 5 percent of quantity which you are on your limit. These payments - in addition to percentage payments.

The lost payments of replacement of a card? If your card has been lost or stolen not time, and you require in new, some companies will accuse you for replacement. These payments - a range from 5 $ up to 10 $.

Creation of Payments
After you transfer balances, be convinced, that have made all your payments completely and in time or you will be automatically amazed with higher payments. In general, there is no period of grace to compensate transfers of balance, thus interest will collect immediately. (no interest actually will collect, if you will have introduction Apr for 0 percent),

Doing payments, it is important to understand, that payments by which you do, all over again will be applied to balances with lower or promoting balances and then are assigned to above APRs. It means, what you will pay in cash for transfers of balance for 0 percent before you even concern balance of regular purchases? Which can be charged on norm 9 - 18 percent. As a word of advice, consider use of a various card for your regular purchases and will pay balance every month. Hold your transfers of balance limited to a separate card.

From the Promoting Ends of the Honeymoon

You should hold a close eye for the promoting period. As soon as it expires, normal interest rates will be applied. Standard variable APR will be applied to Platinum purchases Citi (8.99 percent) to all remaining purchase and quantities of transfer of balance. Similarly, standard variable APR will be applied to cash advance payments (19.99 percent) to all remaining cash quantities of progress. If you non-payment under the agreement of a card of Platinum Citi, the company can immediately increase APR on all balances? Inclusion of any promoting balances? To variable norm by default 28.99 percent.

Your postintroduction APR will depend on your history of the credit. If this interest rate will be considerably above than norm on your old card, and you have a remaining balance you'll wind up losing money. Of course, you could transfer always your balance to a new card with lower promoting norm. Only be afraid to confuse itself in a vicious cycle which could have unpleasant consequences later.

The owner of a site devoted information on credit cards and offers.
On our site you will find more detailed information
With best regards George Khorde
E-mail: info@credit-box.com

Balance Transfer Credit Cards - Are They Still A Good Deal?

2008-02-11T02:04:00.002-08:00

There's been a lot of press lately about the demise of balance transfer credit cards. The reports of their death, to use an old quote, have been greatly exaggerated. Balance transfer cards have changed considerably, but they're far from gone and not likely to be going anywhere anytime soon. If you've been considering cutting your interest payments by transferring the balances to one with a special balance transfer deal, here's what's going on in the world of balance transfer credit cards.

For years, credit card companies were able to build their business by enticing new customers from the ranks of those who'd never held plastic before. But with the numbers of cards in circulation rising and the average Brit carrying four different cards in his or her wallet, they've had to get competitive with each other. Thus was born the marketing tactic of offering 0% interest for any balance transferred from a competitor's card to a new card.

Those 0% balance transfer deals were greeted enthusiastically by the public - a bit more enthusiastically than the issuers of those cards expected. They missed a vital point in their calculations - customers who switch cards for a better rate of interest have already given up brand loyalty in the interest of getting the best deal. When the 0% interest ran out, they simply moved their remaining balances to another card. To counter that, the big companies started modifying their offers with restrictions designed to keep people from jumping from card to card following the best rate.

Some of those restrictions are openly stated and easy to see - reductions in time on the introductory rate, for example. Others are hidden in the conditions and terms of your credit agreement. Those 'traps' make it all the more important to carefully compare balance transfer credit cards before you move your carried balance from one card to another. It's still worth your while to check on the newest balance transfer offers a couple of times a year, say the money experts, but be sure to compare the offers before you jump from one card to the next.

Comparison sites make it easy to find all the newest and best balance transfer deals and compare them with each other. When you check into the offers you find, read the terms and conditions of each balance transfer option for the following things:

- What is the APR on your transferred balance and how long does it last? There are very few 0% balance transfer card deals left, but there are a few. The 0% APR on transferred balances may last for three months, six months, nine months, or in some cases for the life of the balance transfer amount. More often, the APR on your transferred balance will be a low 1-2% for the life of the balance, as long as you conform to certain restrictions.

- What is the APR on new purchases? Many of the new balance transfer offers require that you use your credit card to make a certain number of purchases per month. This is because the lowest interest rate only applies to your transferred balance. Any new purchases will be subject to a higher interest rate more in line with typical APRs on other credit cards. In addition, any payments that you make will be applied to your transferred balance until it's paid off. That means that your new purchases will sit on your card accruing interest at a higher rate until your entire transferred balance is paid down.

- What are the requirements to keep your low balance transfer APR? Most cards no require you to make at least some purchases each month to keep the APR on your transferred balance. In some cases, the card agreement will specify a number of purchases without specifying an amount. In others, it will specify an amount that must be charged against your card, and in some cases, it will be both a number and an amount. Remember that those amounts will accrue interest until the balance transfer amount is paid off and choose a card that requires the least amount of new purchase debt.

- What's the balance transfer fee? Another big change is in the structure of the balance transfer fee. Until recently, most balance transfer options had a cap on the balance transfer fee - a percentage of the transferred balance up to ?50, say. Now many have dropped the cap in favor a straight percentage. Before you choose a balance transfer credit card, be certain that the transfer fee doesn't cost you more than the interest that you'd pay on your current card.

Balance transfer credit cards still exist, and will for years to come - but the terms are changing, and will continue to change as the companies plug holes that allow consumers to use them in ways they didn't anticipate. Keep your eyes open for new balance transfer opportunities, but be sure to check them carefully for conditions and traps.

Jon Francis has been involved with finance for many years! With an in-depth knowledge of the credit card UK market help helps others get the best from a credit card.

Balance Transfer Credit Cards: When They Work

2008-02-11T02:04:00.001-08:00

Balance transfer credit cards are an appealing aspect of the credit card business. They allow many people to find just what they need in getting a lower interest rate. On top of that, they allow for some of the best choices when it comes to lowering your debt to credit ratio. In short, if you choose these credit cards wisely, they can work very effectively for prospective cardholders. If a balance transfer is right for you, take the time necessary to determine what the right move is.

Learning If It?s Right For You

Balance transfers can be beneficial to virtually anyone that has a balance on a credit card that is costing them money in finance charges. If you can apply for and get a lower interest rate on a credit card, then it could be a plus to consider it. This would mean that you could move your existing credit card balance to that one and end up paying much less on the card balance that you currently owe.

Another time that it can be beneficial to you to use balance transfer credit cards is when and if you select to get rid of some of your highly costly debt to keep yourself out of collections. To use this method, you should consider what you will do after the balance transfer happens. If you can invest some time in getting this new account open and restarting your credit with them, you may be able to get a lower interest rate, get a larger credit limit and improve your credit score as well. But, you can get into real trouble if and when you do not cancel or stop using the first credit card. If you continue to use the card with the large balance on it, you could find yourself in serious trouble overall.How To Get Balance Transfer Credit Cards

If you are looking to benefit from the prospect of balance transfers, you will, of course, need to find and apply for these credit cards. In most cases, virtually any credit card you apply for can be used as a balance transfer credit card. During your application process, the company will ask if you would like to use their credit card for this need. If so, then they will instruct you on how to do so right then and there. It can be that simple.

Yet, it does take some time and concentration to make it happen. To get a good quality balance transfer credit card, you should invest some time researching the best available opportunities. Luckily, you can easily do this right on the web. Take some time to look at several offers as they are all likely to be a bit different. Of course, you will also need to qualify for the credit cards in order to use this service. Here, they will likely look at your credit score and your income range to determine this need. Telling them up front that you would like to use balance transfers can be a great way to entice them into approving you for the amount that you need.

When it comes down to it, balance transfer credit cards allow people to find solutions to debt problems that they didn?t have before. If used properly, these credit cards can save a person signficiantly over time. Yet, it is necessary to find the best product at the best price for that to become a reality.

Robert Alan advises that you visit http://www.creditcardassist.com/balancetransfer/creditcards.html for more information on balance transfer credit cards.

0% APR Balance Transfers Credit Cards: Three Top Choices

2008-02-09T01:16:00.001-08:00

There is a lot of interest in 0% APR Balance Transfer credit cards because of the tremendous savings possibilities they offer. You don't have to be an MIT graduate to understand that the 20% you are paying to a high-interest credit card on a balance of $ 10,000.00 is two grand; and if the interest on your credit card was 0% APR, that money would stay in your pocket. It turns out, however, that not all 0% APR credit cards are the same. Major credit card companies, who are competing fiercely with each other at this moment, use a variety of enhancement programs that combine the idea of 0 % APR Balance Transfers and with other add-on bonuses. Consider the offerings of three of the largest credit card companies, how they are similar in terms of the basics, but are putting a twist on benefits:

The Chase Platinum Credit Card

Chase bank has been in the credit card business for a long time, and this card is their standard offer. It has 0% APR on all purchases and balance transfers, provides free online account access, and does not charge an annual fee. The only question about this card is how long does the 0% APR last; and the answer depends on your credit. If you have excellent credit, Chase will give you 0% APR on purchases and balance transfers for a full year. If your credit is good enough to qualify for the card, but not quite good enough to meet the higher standards, that period of 0% APR drops. Still, the opportunity to transfer balances and make purchases at 0% APR makes Chase a good choice.

The Miles Card from Discover

Another industry heavyweight, Discover, has 0% APR credit cards available for purchases and balance transfers. The Miles Card, however, adds the benefit of accumulating airline miles to help consumers choose Discover over everyone else. The company touts their 0% APR credit card for its twelve month duration and the ability to include balance transfers at no interest. The real inducement, however, is the 12,000 mile sign-up bonus and one-mile-for-one-dollar point award. Just to make the deal a little sweeter; there are no blackout dates for these miles and you can fly any airline at any time. You have to have good credit to get one, but the Miles Card from Discover may be a good way to save interest on purchases and balance transfers while building up miles for the next vacation.

Citi? Diamond Preferred? Rewards Card

This 0% APR credit card from Citi not only gives you 12 months of interest-free funds and no balance transfer charges, it also has a points reward system that gives you redeemable points based on purchases. The program works by offering five reward points for every dollar spent on purchases made at supermarkets, drugstores and gas stations; all other purchases get one point per dollar. You get 5,000 bonus points when you get your card, which can be redeemed for a $ 50.00 gift card after your first purchase. Like the Discover card, you will need good credit to get this 0% APR card, but the initial bonus points and rapid accumulation of reward points for purchases of the basic necessities of life could make this just the card for you.

These days, the question is no longer about finding a 0% APR credit card or a 0% Balance Transfer card; the issue is how would you like that card-with extra months of interest-free money, airline miles, or other rewards such as incentive point programs? Any person who is currently carrying balances on high-interest credit cards should shop online and take a look at the 0% APR and 0% Balance Transfer credit cards from Chase, Discover, Citi and other companies. You may just find the right card for you.
Use the following link to find 0% Balance Transfer Credit Cards: http://www.credit-card-surplus.com/balancetransfer.php . Ed Vegliante runs http://www.credit-card-surplus.com , a directory enabling the consumer to compare and apply for credit cards.

Credit Card Balance Transfers

2008-02-07T22:40:00.001-08:00

There are a number of credit cards one might like to try: Platinum card, Platinum gas card, The Miles card, Student card, Gold card and such others. Credit card balance transfers are a way for most of the cardholders to make a consolidation of debts in no time at all. This also provides the cardholder to turn a number of bills into one affordable easy payment.

All the major credit card companies allow the card holder to make a balance transfer from various cards. These include all the major credit cards, specialty cards (cards for department stores, gas companies, and many others), small loans (school loans, auto loans, loans for home improvement), cards meant for household accounts like bill accounts of electric, medical, phone and gas.

Balance transfer allows these banks to open a new account for the particular card holder or the account holder by the virtue of which his or her older account details will be shifted to the new account of the card holder. Therefore, the bottom line is that by the process of credit card balance transfer there is a mutual monitory advantage for the banks and the cardholder as well, although there are exceptions.

Transfer of balance of a credit card to a significantly low rate in the introductory stage might raise some questions. One should be careful about the following points, or the cardholder might end up paying money at a very high interest rate. The time period of the introductory rate of interest, the annual percentage rate of the card once the expiry of the teaser rate has taken place, and whether there is any involvement of money in the shape of any service charge or fees in the process of balance of transfers.
Credit Card Balance Transfers provides detailed information on Balance Transfers, Credit Card Balance Transfers, Card Credit Interest Balance Transfers, Interest Free Balance Transfers and more. Credit Card Balance Transfers is affiliated with Guaranteed UK Credit Cards.

Interest Free Balance Transfers

2008-02-06T22:08:00.000-08:00

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

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

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

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

Debt Consolidation - Get 0% APR On Balance Transfers Today

2008-02-05T22:23:00.001-08:00

Debt Consolidation made easy!

If you have alot of debt, or even a little, and are paying outrageous interest or any interest for that matter, you may want to apply for a new credit card with 0% interest on balance transfers. This is a very simple procedure that many people now use to avoid paying interest on their debt. There are numerous credit cards available that allow to transfer balances and receive an introductory rate of 0%, usually for 12 months, on any balance transfers.

In fact, many people apply for a new card about six to eight weeks before their their current offer ends. They then transfer any remaining balance to the new credit card and again receive 0% interest. This cycle can go on until the debt is paid off without having to pay huge interest rates. This process can save thousands of dollars a year, and help you to pay off your balances are a much faster rate.

If you are interested in applying for a credit card that offers 0% interest on balance transfers, you can do online and be approved instantly. The advantage of applying online is that many sites let you compare different credit cards to find out which one is best for you. Please take your time and compare some of the benefits of each card, some even offer 0% on purchases.

This strategy will help you in your debt consolidation efforts and is the best way I know to cut interest paid out each month. If you are looking to apply online, you may compare cards by visiting my website at http://augyz.ecreditdirectory.com and clicking on the balance transfer cards option.

This site offers over 100 different credit cards with a wide range of interest and rewards options.

Mike Agostino writes many articles regarding credit and debt consolidation and is a webmaster for a credit card comparison site where you can apply for 0% interest credit cards.

Get Interest Free Cash With 0% Balance Transfers

2008-02-04T22:41:00.000-08:00

If you have a great credit rating and no debt, then you could be in line to make some money. And you can do it using the tools that credit card tarts have been using for years.

The Credit Card Tart System

Credit card tarts have used the incentives offered by lenders to their advantage for quite a long time. These incentives often consist of 0% interest on balance transfers for a fixed period of up to 12 months. Borrowers who have a debt apply for a new 0% credit card and transfer that debt to the new card. They make repayments as they normally would, but the balance owed is reduced since no interest is being charged.

When the incentive period is due to end, credit card tarts look around for a new 0% deal. They apply for the new card at least six weeks before the expiry of the old 0% deal, so they have plenty of time to transfer the outstanding balance onto their new 0% card.

This serial card switching allows borrowers to clear debt without paying any interest. Lenders have begun to fight back as they are losing hundreds of thousands of pounds' worth of interest. Many of them now charge a balance transfer fee of about 2%. However, there are still some fee free balance transfers available, which is good news fro debt-free consumers looking to use the system to make some money.

How To Earn Money On A 0% Card

To make money from a 0% balance transfer card, it is necessary to have a good credit rating and to get two new credit cards. One credit card has a 0% balance transfer rate. This must be a card that does not charge a balance transfer fee. The second allows credit card cheques at no additional charge.

The borrower can use the balance transfer card to transfer a sum of money onto the card that allows credit card cheques. The borrower can then write a cheque for that amount and pay it into a high interest savings account. This strategy only works if the interest earned is more than the amount being paid. Borrowers can use the same technique to get a low interest loan. Long term balance transfer rates are lower than standard interest rates on loans.

But Is It Legal?

There is nothing to prevent borrowers from using their cards in this way. As long as they make repayments on time and in full, there are unlikely to be complaints. It is also essential to keep credit card applications to a minimum so there are no red flags on the borrower's credit report. There's no reason why borrowers who stick to these rules and make payments on time shouldn't make a bit of money from their credit cards. And while they're shopping around for the perfect credit cards, it's worth checking out the other incentives as well.
Joe Kenny writes for the Card Guide, a UK credit card site, apply for a 0% balance transfer credit cards to clear your credit card debt today. Visit today: http://www.cardguide.co.uk/

Get A Low Cost Loan By Using Balance Transfers

2008-02-03T22:30:00.000-08:00

Keeping interest payments down is a sign of good money management and credit card tarts have got it down to a fine art. Credit card tarts take advantage of 0% balance transfer deals to make sure they never pay interest on their credit card debt.

Credit Card Tarts

It works like this. The borrower applies for and gets a credit card that offers 0% on balance transfers for a fixed period. Usually this is six months to a year. The borrower transfers the existing debt on to the credit card and makes repayments as usual. Since no interest is being charged, all repayments are reducing the amount of money owed, which is good news for the borrower's long term financial health.

At least six weeks before the 0% deal is due to expire, the borrower applies for another 0% credit card and transfers the remaining balance on to the card. This means the borrower has another period of clearing debt without paying interest. This strategy can be repeated several times, though many credit card companies have got wise to it and are now charging balance transfer fees.

Low Cost Loans

This is a great strategy for people who are trying to reduce debt, but it turns out that it can also be used for debt-free people who want to get a low cost loan. To do this, borrowers need to find two different types of credit cards. Debt free people with a good credit rating should have little problem with this strategy.

First of all, the borrower will need to find a card that offers a low balance transfer rate for the life of the balance. There are several of these to choose from. Many of them also offer other incentives, so it is worth shopping around.

Second, the borrower needs to find a card that allows a fee-free balance transfer, as well as credit card cheques with a 0% interest rate. There are a few cards that meet these criteria.

Transferring The Balance

Third, the borrower needs to do a balance transfer from the low rate card to the 0% card. This means that the 0% card will be in credit. Finally, the borrower can write a credit card cheque from the 0% credit card and pay it into his or her current account. The net effect of this is a loan at a much lower rate than normal bank loans.

Even for people that don't need a loan, this can be a good way of making some cash, especially if they are able to stash the cash in a high interest account.

What About The Credit Rating?

One danger of this strategy is if borrowers make too many credit card applications in a short space of time. This can count against them in a credit file. It is also essential to make at least the minimum payments on the required dates to maintain a good credit history.

Joseph Kenny writes for the Personal Loans Store which offers information on loans and more on how to improve your credit rating,
Visit Today: http://www.ukpersonalloanstore.co.uk

Balance Transfers Explained

2008-02-01T22:40:00.001-08:00

A balance transfer is an option offered by many credit card issuers which enables the card holder to use their available credit from one card to pay off the balances due on one or more other cards. Usually the interest rate on the amount borrowed is lower than the rate of the cards that are being paid off by the balance transfer.

Balance transfers are really nothing more than a consumer loan made to a customer who is already pre-qualified by the lender because of the credit card relationship that exists. Since the card issuer is already open to exposure for the maximum amount of the card holder?s credit line anyway, it makes financial sense for the card issuer to entice the cardholder to run their balance up as high as possible.

A balance transfer offer is the perfect way to entice the card holder. Most balance transfer offers will come with an artificially low introductory interest rate, such as 1% or 0%, for a fixed period of time. After that time period the interest rate will rise to whatever was permitted by the terms of the offer.

Some offers will come with a fixed interest rate for the lifetime of the balance transfer payment period, subject to the usual penalty clauses for late payment, etc.

Although some card holders receive fee-free balance transfer offers, depending upon their credit experience with the card issuer, as well as their overall credit score, most balance transfer transaction require the card holder to pay a fee. This fee could be a flat-rate or a percentage of the amount borrowed. Typical offers these days are running 3% of the amount transferred per transaction, or $5, whichever is greater. Some offers cap the transfer fee at $50.

Consumers who pay close attention to the fine print, and who are diligent about paying the balance transfer balance off during the promotional interest rate period, can reduce their monthly expenses by transferring high interest credit card balances to the lower interest card offering the balance transfer option.

Consumers who do opt to take a balance transfer should not run up more debt by using the credit cards that the transfer was used to pay off. This defeats the purpose of paying off the balance to begin with and will quickly place the debtor in a position where they are no longer able to make their payments.

Provided by Creditor Web. Creditor Web empowers consumers to compare and apply for a credit card online.

Why A Balance Transfer With Your Credit Cards Makes Sense

2008-01-30T22:38:00.001-08:00

Many people have made the mistake of willingly (or unwillingly) racking up hundreds, possibly thousands of dollars worth of credit card debt. Even if they decide to pay more than the minimum and snip the offending cards in half in order to curb their desire to spend, the damage has been done. The interest rates that will be applied to unpaid balances are usually sky high and the debtor, despite valiant efforts to gradually pay himself out of debt, ends up with escalating figures.

The best way to get out of debt is to simply pay off the balances of the offending credit cards in full, but unless you were born with a silver spoon in your mouth or have a million dollar trust fund at your disposal, this option would simply not work. The more plausible move would then be, to have all the outstanding balances consolidated and have this total amount transferred to a separate credit card ? just make sure that the special balance transfer rates are applied to your account.

This option may sound far out, but it is one of the best ways you can get out of debt. This happens because any outstanding balance you have on any credit card is wiped out, thus you will no longer be charged the standard interest rates. The amount that you transfer to the balance transfer card would be interest free, and the balance transfer interest fee that the new card will apply to your new account will be much lower than the usual rate, and will not be compounded.

Almost all major and minor independent credit card companies and those that are supported by banks and other financial institutions offer balance transfer programs. Apart from the significantly lower interest rates and the flexible payment terms, these credit cards further entice consumers to sign up for their program by offering other benefits, such as waived annual fee and possibly, the chance to earn rewards points when the card is used at affiliated partner establishments. If you are looking for a card company to transfer your outstanding balances to, you would need to gather as much data as you can and compare the rates side by side, so you can glean which of these services best suit your lifestyle and your finances.

If you have a lot of time on your hands, you can simply visit the banks nearest you and grab hold of their balance transfer leaflets. But if you?re on the go and have no time to sift through a lot of information, you can get the data you need by logging on to the Internet.

At present, there are several websites that give vital and relevant information to Internet users. There are sites that provide comparative data on myriads of products and services; from digital cameras, MP3 players, vacuum cleaners and even credit card facilities and promos. By visiting these sites, all the data you need will be presented in a very clear and concise way, without all the fluff and leaving you only with what is relevant.

By viewing sites such as these, you will be in a better position to evaluate the balance transfer offerings and you would be able to make a sound decision, based on facts and not on anything else.

http://www.cardratings.net/balance-transfer.htm

Balance Transfer Credit Cards: How To Benefit From a 0% Intro Rate

2008-01-28T22:41:00.000-08:00

If you are considering combining your outstanding credit card balances into one place, you might be curious about the best way to benefit from a low introductory rate. The switch to a 0% APR card is not a difficult one, but you should have a plan in place to maximize your savings and pay down your principle debt.

Simple Steps

Even though it is a fairly easy process to consolidate into a 0% APR card, there are a few simple steps to ensure you don?t get burned in the process. First, if your goal is to make headway on your balances, find a card that has a 0% APR. Most balance transfer cards come with a 12 month 0% APR grace period. Others, instead of granting a grace period, will have one lower than average APR from the get go. The advantage to this second type of card is that you keep that low rate, whereas a typical 0% APR card will ramp up to a rate that is a little more common. The point of getting a 0% APR card is not to just give you immediate relief from interest payments. It is to give yourself an opportunity to pay down that debt without the added burden of paying the credit card executives? salaries. So, when you get this opportunity don?t fritter it away; even if you don?t pay-off your entire balance, your interest payments after the grace period will be greatly reduced if you make some progress.

Feel the Power?

?the willpower, that is. You can do wonders for your credit score and financial situation if you use your 0% APR card with discretion. However, if you make late payments, or only small payments while adding to the overall balance, then you could easily get yourself into trouble. The worst possible credit-card-induced feeling is to have a big balance creep up on you, and to realize higher interest rates are coming along for the ride. The single biggest pitfall to avoid is the temptation to sit on your 0% interest, and spend your money elsewhere. Take advantage of the opportunity and you?ll find yourself on sounder footing.

Have a Plan

The best way to go about this transition is to have a well thought out plan. You can approach this opportunity any number of ways; your personal financial situation should dictate your needs. It might sound trite, but studies show that those who formulate a well thought out plan before embarking on a new endeavor are much more likely to succeed. Sitting down and thinking about your goals, whether that be partial payment of the balance or payment in full, will help you create a more stable financial picture. You really can maximize this opportunity!

Please click here http://www.credit-card-surplus.com/balancetransfer.php to find Balance Transfer Credit Cards. Ed Vegliante runs http://www.credit-card-surplus.com , a credit card directory enabling the consumer to compare and apply for credit cards

Choosing A 0 Balance Transfer Credit Card

2008-01-28T22:40:00.000-08:00

Many of us have been in this situation, two or three credit cards with balances and a high interest rate being charged monthly. If you can only pay the minimum due each month, you will never get ahead. The majority of your monthly payment is being eaten up by interest. There is a way out of this situation and that is with a 0 Balance Transfer Credit Card.

A 0 Balance Transfer Credit Card is an offer that gives you an introductory 0% APR, usually for the first twelve months billing cycles and allows you to transfer the balance from high interest rate credit cards to your new account. With a plan and discipline, this allows you time to pay down your principal interest free.

Like all consumer products, 0 Balance Transfer Credit Card offers are not altogether the same, so you really need to do your homework and compare the fine print of each card. You need to be certain that the card you finally decide on will give you exactly what you want and that's to pay down as much of your debt as possible during the introductory period. It?s also wise to know what the regular interest rate will be once the introductory period is over should you not be able to pay off the entire balance during the introductory time.

Some cards offer the 0% APR for balance transfers as well as new purchases and cash advances, while other issues only offer the 0% APR for the balance transfer only. Please be aware that payments are applied toward the lower interest rate balance. So if the 0% APR only includes the balance transfer and you charge on your card, any payments made will be applied toward the 0% APR balance until it is cleared.

There is a charge for transferring the balance to your new account, ranging from a minimum of $5, to a maximum of $75. This transfer fee is for each balance you move over to your new account. Review each offer carefully to see what their proposal is.

When your new 0 Balance Transfer Credit Card account is approved, you will be given a line of credit depending on your credit worthiness. You will only be allowed to transfer the balance from the higher interest accounts to within the set credit limit of your new account. Should you make a late payment or go over your line of credit, your introductory offer will be withdrawn

A 0 Balance Transfer Credit Card can be a useful tool in paying down your debt, interest free, if you have a financial plan and stick to it.

Bradley Carson is the owner of Apply Online For a Credit Card at http://www.cards-king.com, a website created to bring concise credit card information and introduce offers from premier financial institutions. See Brad's current recommendations of 0% Balance Transfer Credit Cards at http://www.cards-king.com/categories/balance_transfer_credit_cards

Credit Card Balance Transfer Offers

2008-01-27T23:28:00.000-08:00

Indeed, credit card companies will do whatever they can to compete with each other. As one company thinks of better strategies, features, and other programs, another will conceptualize apparently better offers that greatly exceed those of its competitors.

Interest rates are the favourite points of competition of most providers. Each one has its own claim of what a better interest rate is. As soon as the enrolee has been convinced, he will then be encouraged to avail of the balance transfer offer. But are these types of offers really beneficial?

Balance transfers in credit cards happen when you transfer your bills from another credit card to another one which claims to impose lower interest rates.

However, in doing so, you must take extra precaution. While the procedure appears to be that straightforward, there are a lot of things that you have to take into consideration first.

First, you have to check if the low interest rates in the other credit card will, in fact, persist. More often than not, providers lure customers by giving a very low introductory rate. A few months after, higher rates will start to take effect.

Thus, before you decide to transfer all your balances to one credit card which apparently has lower rates, make sure you have read the fine prints in the documents being presented to you.

Oftentimes, the not-so-favourable conditions are contained in that portion of the form. Think twice before you do sign. Otherwise, you might end up paying higher than before.

If in case it was indicated early on that the low rates are, in fact, introductory and that they will increase after some time, inquire how much it will be and if it will remain to be so. When you know the exact figures, you can accurately weigh out your options.

Moreover, before closing your other credit cards and sticking to a new one, check if the low rates are for all parts of the bill. Sometimes, the low rates are only for those which are balance transferred. New purchases may have a different rate. If this is the case, you may avail of the balance transfer offer but use your previous credit cards for new purchases.

Some credit card companies also consider balance transfers as cash advances. Thus, the rates may be a lot higher. Inquire about the new credit card's classifications as well as clarify the titles of their various programs and features. One term may mean differently for two providers.

In addition, balance transfer may indeed have lower interest rates as well new purchases. Your inquiry should not end here, though.

You also have to look into the annual fees, late fees, finance charges, and other similar considerations. You may have saved a good amount by transferring your balance but you may end up paying higher fees than before. Weigh which one will be more cost-effective for you.

If in the end you have weighed your options well and decided on transferring your balance to another credit card, check with your old credit card if your balance with them has indeed been removed.

This is just to ensure that you will not be stuck paying two bills for the same purchases. Coordinate closely with your former and current provider to avoid any mix-ups.

Balance transfer offers may indeed be beneficial if reviewed carefully. You have to make sure, before making any decisions, that such is not another catchy credit card offer to guard yourself from.

Important Note:
View our recommended reference list, please visit this page: 0 Balance Transfer Credit Card Offers

Balance Transfer Credit Card Comparison and Reviews
http://reviews.ecreditdirectory.com/categories/balance_transfer_credit_cards

Successful Credit Card Balance Transfers

2008-01-23T23:25:00.001-08:00

Credit card balance transfer is a good way of consolidating your credit card debt. It is also the best way to evade the possible problem that your debt can give. With the high demand of these credit card transfers, companies are competing with one another to get the business.

Before you go into credit card balance transfer, you must learn some pointers to be able to appreciate its function. Here is a checklist of the things you should keep in mind to enjoy the best that it can offer.

1. Carrying out your credit card balance transfers should always be on time, it should not overlap on periods from one to the next as it can bring more money charges on your account.

2. You should always make sure the availability of the zero credit card money transfer is on time. There is no use for applying for an offer after the expiration date.

3. If your credit card issues free interest rate, make sure that it is true. Read the small printings on the promo sheet to know exactly the process of their promo.

4. It is crucial to transfer a credit balance. You should transfer all the balances to normal interest card as the store cards have the tendency to have a higher APR rate.

5. A zero interest or low interest card must be easily identified. You should trust a source where you can have a comparison of two credit cards. You should choose a source that does not advertise a particular credit card; aside from the comprehensive description of comparison, the source must also help you make a good decision. You can check a financial broker for this matter.

6. Always remember the expiration date of your zero balance rate credit cards so you can apply for a new credit card balance transfer before it expires.

7. Choose a flexible and quick interest free credit card balance transfer.

You are sure to get the best credit card money transfer by following the pointer sited in this article. You also have to follow the nine steps for you to get the right procedures in money transferring.

1. Find a lender that gives free interest rate or those that have zero introductory balance transfer rate.

2. You must shop for a credit card wisely. Always be aware of all the things about your chosen credit card.

3. Once the new credit card arrives, call the one who issues the card and tell about your plan of money transferring from your previous credit card. They are the one who will arrange it for you.

4. You will be offered with many privileges you do not need, such as insurance plans. Just tell them that you do not need it now.

5. If the balanced is successfully transferred, never use your previous credit card again. Destroy the card after closing the account to avoid the temptation to use it again.

6. Remember that your new account has a zero introductory balance transfer rate, so you will need a minimum rate to repay it every month during the period.

7. Manage your debt better this time, after getting a new credit card.

You need to learn all of these to transfer successfully a balance to a new account. Make sure to follow the directions carefully for more positive results.

Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Credit Cards. Get the information you are seeking now by visiting Credit Card Balance Transfers

Credit card 0% balance transfer deals: the terms maybe increasing, but so are the costs

2008-01-22T23:18:00.001-08:00

With summer holidays looming and credit card spending on the increase, many people will be looking to reduce their repayments by utilizing one of the many 0% balance transfer credit card deals. Consumers need to check for hidden charges which have been creeping in to credit card contracts over the past few months to prevent a group of financially savvy consumers called ?rate tarts? from taking full advantage of these offers by regularly changing between card providers so that they never pay interest.

While credit card companies such as Barclaycard are gradually increasing the length of their 0% period, transfer fees are becoming progressively more common. This means that while the interest free period remains in effect, no additional interest repayments are added onto the initial balance, there is a preliminary charge made based upon the total amount transferred. Until recently the average charge was 2% of the transfer balance up to a maximum of about ?50. This however is now changing, as MBNA recently boosted its minimum charge from 2% up to 3%, along with the maximum fee for balance transfers from ?50 to ?75. Online financial comparison site, Moneynet, has warned that, where MBNA leads, rivals might well follow.

Another change to the charging structure of many credit cards includes the removal of the transfer fee cap. Capital One along with several other providers who are offering some of the longer 0% periods, have decided the best way for this service to be funded by the bank is through taking the cap off the maximum possible charge for balance transfer fees. This means that on a ?5,000 balance transfer with a 2.5% transfer fee, there would be a ?125 charge upfront for the privilege of changing to the new card, where previously the total charge may have been capped at only ?50.

Despite these changes in the terms of various balance transfer cards, it is still usually worthwhile, but the consumer needs to look closely at all the overall costs and savings which are likely to be made, and whether a different deal such as a long-term low APR card, may prove to be better in the long run.

Richard Brown, the chief executive of credit card comparison site Moneynet, warned consumers against financial complacency, ?Consumers waste millions of pounds each year by not switching. While apathy and unawareness that they could save money are factors, financial providers also make it harder than in should be.?

With the personal finance market becoming increasingly complex and confusing to the consumer, the Financial Services Authority has realized the need to help educate the nations young, and encouraged, ?firms to provide clear information so that consumers can engage with the financial services market, make informed decisions and shop around?, and requested that, ?firms to treat their customers fairly?

At the end of the day, while there is assistance available in the form of financial publications, comparison websites, and financial advisers, it is unfortunately up to the individual to seek out the most appropriate help and regularly perform their own financial reviews in order to ascertain how to build a more secure financial future for themselves and family.

Disclaimer:

All information contained in this article, is for general information purposes only and should not be construed as advice under the Financial Services Act 1986.

You are strongly advised to take appropriate professional and legal advice before entering into any binding contracts.

Consolidating Debt? Find the Best Balance Transfer Card

2008-01-20T22:56:00.001-08:00

Credit cards with their schemes of deferred payment provide people with cash they did not necessarily have in their bank accounts. In a flash, we bought that sweet little dress in the shop window or the hard-to resist computer gizmo. Unfortunately, that flash did not come from a magic wand but from credit cards whose bills we ultimately had to pay for with cold hard cash. In this bleak scenario of huge debts came a temporary lifesaver called balance transfer credit cards, a card to which we can transfer our current balance. The debts of all our credit cards are combined into one debt that can be paid off with a single monthly payment with low interest rates.

Selecting the Best Balance Transfer Card

There are many balance transfer cards available in the market and since it is going to be used to settle debts, it 'pays' to read the fine print. This will help you find the best balance transfer card. Ideally, go in for a credit card that does not charge any fees for the transfer, which has 0% introductory rate and comes without annual charges at least for the first year. You can and should negotiate for the same for subsequent years as well. Generally, the card should only be used to transfer balance, while another credit card is used to make purchases. However, if you do use it for buying things, another reading of the fine print helps.

Find out if the credit card limits and the time period for making purchases. Find out if they charge high interest rates on purchases as you may just wind up with one more overdue debt. Check if the credit card offers cash-back rewards, because that can lower your purchasing cost that is useful when you are trying to control your debt.

Once you have decided, keep your options open. You can, and many do, move from one balance transfer credit card to another. This can be done when it is time to pay the annual charges or when the zero-interest introductory offer is over. This will keep both your debts and your blood pressure at a manageable level.

Zack Nelson recommends Find Credit Cards to find the best balance transfer card.

Balance Transfer Tips - Maximizing The Benefits of Transfers

2008-01-18T22:37:00.001-08:00

While transferring your balance from a high interest credit card to one with a low interest rate is easy, there are certain things that should be taken into consideration. The first thing you want to do is look at your current credit standing. If you have a good credit history, you should have no problem getting a card that has a 0% interest rate. Once you get this card, you can transfer over your balance from the high interest credit card to your new card that has a 0% interest rate.

By doing this you can save hundreds or thousands of dollars each year. When you decide to conduct a balance transfer, it is also important to determine how much you want to transfer. If you have a balance that exceeds $10,000, it is unlikely that you will be able to move over the entire amount to one card. Many credit card companies will give you a limit on how much you can transfer. Even if this is the case, moving over as much as you can will allow you to immediately begin saving money.

Some people become discouraged when they realize they can't transfer over the entire amount, but this is not the right attitude to have. Paying off a large credit card balance won't happen in one day, and it is important to take your time and use discipline. Another thing you will want to consider is the fee that may be charged if you transfer funds. A typical fee will be 3% of the total amount transferred, and this could be a large amount depending on the amount you want to transfer. Some banks have solved this problem by placing a limit on how much they charge in order to transfer a balance.

While transferring your balances can be a smart move, the best way to avoid debt is to stay disciplined and avoid putting more money on the card. It is important for consumers to realize that they, not the credit cards, are the problem. Properly managing your personal finances is the best key to avoiding debt. Many wait until they are in excessive amounts of debt before they try to do something to correct the problem.

They come up with ingenious ways to pay off their debts, but fail to realize the underlying cause of the problem. Consumers have to realize that credit cards are tools that can help or harm them. While they are convenient to use, not using them properly can lead to severe problems.

Joe Kenny writes for Card Guide, offering the latest information on credit cards in the UK, visit them today us to apply for a balance transfer credit card and start clearing credit card debt today.

Low APR Balance Transfer Credit Cards - Help You Save Money on Interest Charges

2008-01-18T22:36:00.000-08:00

Balance transfer credit cards help you consolidate your credit card debt into one card, which enable you to save money on interest charges. The concept is simple enough, but you need to know how to move money owed from high interest credit cards to low APR balance transfer credit cards. These credit card companies also market these as a credit card with 'zero interest on balance transfer' as well as a 'cheap balance transfers credit card.'

First, assess your current credit situation. If your credit history has a consistent pattern of timely payments, you may well qualify for any of the low APR balance transfer credit cards. Transferring all or some of your outstanding balances to this card can help you to save thousands of dollars, annually, in interest charges. With planning and exercising discipline, you can bring down your large credit card balance. You can take advantage of the low APR, and apply all the money you save on the interest to the principal.

Many low APR balance transfer credit cards offer zero interest on balance transfers for a period ranging from six months to one year. They start to charge interest after the expiry of this period. It is imperative that you find out what interest they will be charging at that time. As of September 2005, most credit card companies typically charge APR of 10.24%, and this increases dramatically if you default on any agreement with your credit card company. You need to shop around to ensure that your cheap balance transfer credit card do not turn out to be expensive.

Many credit card companies offer zero interest on balance transfer, but charge a processing or a transaction fee. This could be as high as 4% of the balance being transferred. Look out for companies that charge a flat fee irrespective of the balance you transfer. Many companies charge a flat rate of $50 to $75 as processing or transaction fee.

Low APR balance transfer credit cards seem very attractive, but you need to look into some hype:

- Check the period of the low APR on balance. - Check the rate after this period expires. - Is there any balance-transfer fee? A flat 4% transaction fee means the higher balance you have the higher fee you pay. Look for companies charging a flat amount.

Balance transfer credit cards are indeed one of the best ways for you to slowly eliminate credit card debts due to high interest. The rest will be up to your discipline to wisely spend money on credit cards.

http://www.creditcardlounge.com/balance-transfer-credit-card.html. Need a credit card but have a bad credit? Click here for guaranteed approval credit cards for bad credit http://www.creditcardlounge.com/credit-card-for-bad-credit.html.

How to Compare Balance Transfer Card Offers

2008-01-17T22:51:00.001-08:00

The term 'outstanding balance' refers to the amount you have charged to your credit card which you have yet to pay for. As credit card interests are high, one of the ways to avoid paying for these high interests is to transfer your credits to a balance transfer credit card which offers a 0% introductory APR. This allows the user to transfer the balance over to the new card and save on the interest rates or even to acquire a cash advance to clear off all outstanding debt within the 0% APR period. However, when making a comparison on the right balance transfer card, it's best to evaluate the following elements before making a decision.

0% Annual Percentage Rate (APR)

A 0% Annual Percentage Rate means that you are not charged any interest on your credit card balance for a limited period. 0% APR cards are best used for consumers with huge debt amounts that they want to clear within a certain timeframe. For instance, if they expect to clear their outstanding balances within the next 9 months, they should definitely opt for a balance transfer card with a 0% APR for a minimum period of 9 months. However, they need to be disciplined in carrying out their plan as these cards hike up their interest rates within the blink of an eye once the 0% APR introductory period finishes.

Credit history check

Certain balance transfer cards require applicants to possess a good credit history before their applications can be approved. These cards best suit disciplined card users who intend to reduce the interest rates of their outstanding balances. Being money-smart consumers, they are not in the habit of utilizing balance transfer cards to consolidate their debt, but rather to exploit other attractive credit card perks that these cards may offer.

Cash advance

Another way to clear debt is to obtain a cash advance on your balance transfer card. However, you may want to keep in mind that the amount is usually inadequate for you to clear all of your standing balance at one go. Plus, there is a chargeable fee which is usually about 3% on top of the amount of money you transfer out of your account. Nevertheless, this rate may vary according to the market forces that drive the credit card industry.

Adam Goldman recommends Find Credit Cards to compare balance transfer card offers.

Balance Transfer Credit Cards - Zero Percent Cards With Rewards

2008-01-17T22:50:00.000-08:00

Some of the very best balance transfer cards are available online. Here you will find a plethora of information that will connect you to loaners and credit cards. Most sites supply data that will cover all particulars relating to credit cards, including APR, introductory, fraud protection, balance transfers, rewards, and more.

The lender offers 0 percent introductory up to one year on purchases and balance transfers. This is an enormous advantage since most lenders will offer the 0 percent introductory on balance transfers only. The card is a benefit for those wanting a low ongoing APR. Another significant advantage of this card is you will not pay fees on balances transferred during the introductory period.

Fraud Protection This card has the crucial added benefit of fraud protection. In the last few years, millions of people suffered from identity theft. The card also includes online instant approval; however, you must have very good credit to apply. You will receive travel and accident coverage as well as protection on car rentals. The drawback is this card does not offer new card services.

Consider the following: 1) Fraud protection: What does it mean to you to have security, knowing your identity is protected? 2) Are rewards more important than identity protection? 3) Travel accident coverage: this benefit in itself is a great reward that will cover any points lost from not having the benefits of a rewards program. 4) Protection on car rentals: this is an insurance coverage, if you travel often-using car rentals.

The Citi Diamond Preferred is one of the many credit cards available. This card offers expires randomly, however sometimes the issuers will offer a 0% introductory APR up to 12 months on balance transfers. Unfortunately, some offers will not include 0% on purchases, or cash advances. This card however, comes with a rewards program where you will earn points redeemable on a variety of services and/or products. This will comprise travel, restaurant points, products and more. There's no annual fee on this card and there are no fees on balance transfers, another great feature, since most charges on balance transfers are about 3 percent or 4 percent. If you are searching for a credit card take time to apply while the offers last!

For more information on the benefits of balance transfer credit cards, Bert Wills recommends that you visit CreditCardAssist.com.

Balance Transfers Credit Card "Primer"

2008-01-17T00:41:00.000-08:00

Credit card features are composed of the APR (annual percentage rates), balance transfer fees, interest rates, late fees, and so forth. The APR is a primary feature to reflect on while searching for balance transfer cards. Credit card companies are competitors; therefore, the companies will strive to offer special deals on credit cards. Some of the deals include 0% introductory rates and low interest rates, particularly for balance transfers. In your search for the best balance transfer credit cards, be sure to take maximize the advantage of the offer by using the card strictly for balance transfers. If you use the cards to make purchases, please keep in mind that the credit card issuers profit from the corresponding financial charges that you might incur while using this type of card.

Introductory Periods

For a few of the balance transfer cards, lenders will add zero percentage introductory rates for up to 15 months. Some credit card lenders will determine the zero introductory rates from your credit rating. If you have six months, one year, or 15 months of 0% on your balance transfers be sure to pay off the debts before the date expires.

Balance Transfer Fees

Balance transfer fees consist of a percentage of the full amount that is financed and transferred to the card. The fees typically average around 3 percent of the amount transferred. The purpose of comparing cards is primarily due to the fact that some credit card lenders will essentially surrender the normal fees during the introductory trial.

Transferring the Balance on Credit Card Dates

Very few of the available balance transfer credit card offers will not require a transfer fee. The balance transfer credit cards that provide the most benefits are those cards that enable you to complete balance transfers during the entire introductory period. The cards that require you to start balance transferring upon receipt of the card do not allow the flexibility that the latter card allows. Be sure to read the terms and conditions, since you can look for clauses, stipulations and/or restrictions on balance transfers. The most important thing to consider is understanding, the types of balances transferable, before accepting the card.

The balance transfer credit cards nowadays have select programs that offer rewards. Comparing the cards will help you find the better cards that suit your needs. Look through the clauses when considering rewards balance transfer cards, since some card lenders will not apply the points to the balances transferred. Still, this could be the better choice!

For more information on balance transfer credit card basics, Bert Wills recommends that you visit CreditCardAssist.com.

Best Balance Transfer Credit Cards - Helping You Avoid Paying Interest

2008-01-11T22:13:00.001-08:00

While considering balance transfer credit cards you must consider and understand that the expiration dates on balances that are transferred. You must also understand the APR and what fees you will pay after the introductory trial has ended. Ask the card lenders if the introductory rates will apply to the first transfer, or if the rates will only apply to balance transfers made throughout the introductory trial. You might also ask if the introductory rates are applied to balance transfers as well as purchases. It is also important that you understand the annual fee structure. Likewise, it is essential to know whether an annual fee will apply to the introductory period. Ask if the cards have any applicable fees on transactions.

Transfer Fees Asking questions upfront will help you to avoid pricey fees on balance transfers. Most balance transfer fees are around 3 percent; however, some lenders will charge 4 percent. Due to competition, credit card lenders' are working effortlessly to bring in new clients. Therefore, teaser ads are put up on the Internet to bring in new clientele. While the slicks claim that if you have good enough credit, you can take advantage of the low interest rates and 0 percent introductory rates, not everyone has the applicable credit that lenders will require.

Cash Back Rewards

A few of the cards, including the Chase Cash Plus Rewards Visa offer 5 percent cash back on any purchases made at grocery stores, drugstores, or gas stations for a limited time. Often the card lenders have stipulations though, i.e. only purchases at selected stores are applicable, which means if you do not shop at the store (s) stipulated in the agreement, you will not receive rewards. This card also offers an additional 1 percent cash back on all other purchases made. There are no annual fees, and there is a 0 percent introductory APR for up to 12 months on balance transfers and purchases.

Some of the balance transfer credit cards offered online include the Citi? Platinum Select. Some of these cards offer a 0% APR for up to one year on both purchases and balance transfers. However, the offers will expire; therefore taking advantage of the offers now can save you money. Many of the cards will extend an comparably low ongoing APR once the introductory trial has ended too. A few of the cards will offer advantages that the other card offers may not, like a free onlin, secured account management reports. So be on the lookout for these special features.

Features and Offers

If you're looking for security in balance transfer credit cards, consider the Blue card from American Express. With this card you get a 0 percent introductory APR up to 15 months and low rates thereafter. Still, the offers won't last long, thus taking advantage of the deals when spotted is in your best interest. There are no annual fees and it has a Smart Chip built-in, which provides security while shopping online, or viewing your online reports. Smart Chip is becoming one of the largest schemes for security, which is currently available throughout in the United Kingdom and will soon be available in the US. This card offers a free rewards program, but you must have excellent credit to get approved for the card.

For more information on finding the best balance transfer credit cards to help you avoid paying interest charges, Bert Wills recommends that you visit CreditCardAssist.com.

5 tips on find the best balance transfer credit cards

2008-01-11T22:12:00.001-08:00

The balance transfer credit card can help you save money if you have an outstanding payment to make on one or more high interest credit cards. You can use the balance transfer feature to transfer you balance from your high interest credit card to the credit card with the lower rate of interest. Accordingly, you pay less on the balance transfer credit and save money.

These low interest credit cards or balance transfer credit cards have an introductory period, which can generally last for six months or a year. The interest rate that you pay in the introductory period is either zero or negligible. Since the interest rate is low or zero, you can make your credit card payments on the principal amount a whole lot faster. You get a regular APR on the card after the introductory period is over.

Here is a look on the 5 tips on find the best balance transfer credit cards:

1. Check how long the introductory period lasts. Though it is normally a year, it is not obligatory. Sometime you can have a free promotional period for 18 months or sometimes you can have a negligible interest rate for the life of the balance. You have to check how high will be the APR charged after the promotional period is over. Will the interest rate rise by a few percentage points or is the increase going to be drastic? Though some credit card companies will sugar-coat the entire thing about the rise in interest rate, you have to proactively ask them or at best, read the credit card fine print or the documentation in its entirety.

2. When you are looking for the balance transfer credit card, go through the terms and conditions for payments. Is there any annual fee for the card? What are the late fees and over the limit fees? How are you going to be penalized for defaulting on the payments? Do you stand to lose the introductory APR if you default? Some credit card companies automatically increase the APR, and keep it higher than normal, after the promotional period, if you do not make prompt payments.

3. Most balance transfer credit companies readily offer the facility to transfer larger balances to people who have a good credit history. The ones who do not have a good credit history may not be able to avail the benefit to transfer a large balance. It is important to make it clear with the balance transfer credit card company about the maximum amount that is allowed to be transferred.

4. Check if there are fees for balance transfer. If you are transferring a huge amount, the balance transfer fees can really be on the higher side. Stay away from such murky offers because ultimately there is not much sense if you are paying more for the transfer of the money to be saved.

5. You may get a zero percent or a negligible interest rate from the balance transfer credit card but there can be a catch to it. As per there 'terms and conditions', you may not be able to make a credit purchase on your card for a certain period. Alternatively, you may be offered a promotion to buy something within a certain period. Ask the balance transfer Credit Card Company about what kind of purchases you can make during the promotional period of 0% or low APR. There are some balance transfers credit cards, which offer you cash back for any new purchases on the card. You however do not get cash back on balance transfers. The cash back offer is a good thing if you hope to use the balance transfer credit card for a longer period of time.

Daniel Cohen recommends Find Credit Cards for comparing the best balance transfer credit cards

The Best Balance Transfer Credit Cards

2008-01-10T00:37:00.000-08:00

What is the concept of a balance transfer credit card? To put it simply, making 0% interest balance transfers from one credit card to another is a great way of answering the age-old conundrum: how to have your cake and eat it too. You have nothing to lose -- but to gain you have a bundle of money that could have disappeared while you paid high interests on purchases and loans you've made on your current credit card(s). Sounds like an interesting proposition? It most certainly is! Balance transfer credit cards are there to save you in the hour of need. And then there are the best balance transfer cards. We call them best for a reason; flat zero percent interest rate being one of them.

The Basic Advantage of Balance Transfer Credit Cards

However, good things generally don't last for too long in this world, and 0% interest rate offers on balance transfers would usually be valid only for short periods like three or six months, after which, normal credit card interest rates kick in. Still, that is plenty of time to relax and breathe free! Not all credit cards have this zero percent interest-rate facility though; what most cards do offer is a significantly reduced rate of interest on balance transfers. Either way, a bargain is a bargain and we the consumers end up saving a little more than a paltry sum!

Cool Features of Balance Transfer Credit Cards

Furthermore, balance transfers need not only be made from one credit card to another, the best balance transfer credit cards can be used to pay off most types of financial debts. The bottom line is: you stand to gain from a balance transfer credit card whichever way you look. So look around for some good balance transfer offers on regular credit cards or for an exclusive balance transfer credit card, and go for one that seems to be the most suited for your needs. Also remember that the best balance transfer credit cards have attractive reward schemes to motivate you - their customer - to use their cards to the maximum capacity!

The Rationale behind Balance Transfers

Often credit card companies are detested by people for their seemingly exorbitant rates of interests. They are portrayed as financial leeches that suck the blood off us common folks at the least opportunity. That may or may not be true since all lending banks and credit card companies come under strict federal regulation and supervision. However, it is time we get back at them and rip them off left right and around, out of pure spite! What say?

Many smart people in fact come close to doing so by routinely getting new balance transfer credit cards that usually have a promo offer of a zero percent interest rate for the first year or so, and then they rotate the outstanding amount from one card to another ad indefinitum. Pretty neat! It may even look like a little con trick but it is perfectly legal and could be the most logical thing to do for any person trying to make ends meet. Aren't we all, by the way? In this turbulent chaotic world, most of us are constantly grappling with a makeshift existence, and it makes sense that we shift our debt from one point to another if in the process we also happen to save plenty of dollars!

Choose Your Balance Transfer Credit Card

So what are you waiting for then? Do your balance transfer now! Oh sorry, not right away, because you need to do some research and shopping around first. Although you may be rest assured that there is, by and large, no deviousness involved in the offer of zero percent or marginal interest rate balance transfer, you have to be alert while ordering a balance transfer to an existing card or while picking up your new balance transfer credit card from among a plethora of names and choices available.

To begin with, you may have spent irrationally on your credit card, but that is not the point; at least now you can make a very rational choice by carefully assessing and comparing the balance transfer credit cards available. The keyword is "best," for nothing less will do!

Basically you have three criteria to take into consideration here, namely, the annual fee of the card, the transfer fee, and the rate of interest. The best balance transfer credit cards will as zero all these with a few additional features and incentives to boot! If you find any such, make merry! If you don't, make an apparent compromise and go for the second best, but still second to none, and therefore still the best! Transfer your balance, gulp down a cake and take ample rest.

Bert Wills recommends that you visit CreditCardAssist.com to find out more about the best balance transfer credit cards.

Balance Transfer Credit Card Facts and Myths

2008-01-10T00:36:00.000-08:00

There are a number of balance transfer credit card facts and myths that are important to be cleared up. Understanding these facts and myths will help you to better keep your finances under control.

Myth: I can get arrested for continually transferring my credit card balances.

Legally, you can transfer your credit card balances as often as you want. So long as you are making your payments and not attempting to defraud your lender, the law does not concern itself with how you choose to handle you finances. It is, however, a bad practice to continually move your balance transfer credit card to another. This is because, in order to do this, you need to open up several credit card accounts. When it comes to your credit rating, having a large number of open accounts can lead to a bad credit rating.

Credit cards utilize what is known as "revolving credit." This credit is different from something such as a car payment, which is paid back in installments. Too much available revolving credit puts you in the high-risk category. The basic thought process behind this is that it would be too easy for you to acquire a great deal of revolving credit, use it all up, and then default on your payments. Therefore, using balance transfer credit cards to consolidate bills one time is a good idea, but it shouldn't be a routine practice.

Myth: The best balance transfer credit cards have a 0.00% APR.

While it is true that the best balance transfer credit cards should offer a 0.00% APR, there are more factors to consider when choosing the best card. For starters, you need to learn more about this special APR. Do you need to complete the balance transfer at the time of application in order to qualify for the 0.00% APR, or do you have a window of time during which you make transfers? Does the 0.00% APR last for the lifetime of the balance transfer, or will it rise to an above average APR within a few months? Does the balance transfer credit card offer other benefits, such as travel insurance and fraud protection? Does the card offer a low APR for purchases, as well, or is it best to use the balance transfer credit card only for transfers?

Myth: Balance transfer credit cards are the key to getting out of debt.

While balance transfer credit cards can assist you in taking control of your debt, they should not be considered your primary means of getting out of debt. Instead, you should look at the balance transfer credit card as one tool in your tool belt of obtaining financial freedom. You can consolidate all of your higher interest rate credit cards onto one balance transfer credit card, thereby paying less in finance charges. It also makes it easier for you to keep track of your debts and your bills because all of your payments will be made to just one credit card. Nonetheless, it takes responsibility, diligence, and proper planning to get out of debt - not just getting a balance transfer credit card.

Myth: Balance transfer credit cards are hard to find.

Many people mistakenly believe it is difficult to find a great balance transfer credit card, but this is not true. Many credit card companies offer special introductory rates in order to entice people to apply to their card. After all, the more money you transfer to their card, the more money they can potentially make on the finance charges you have to pay. In fact, you might even be able to make a card you currently have into a balance transfer credit card by calling the credit card company and asking them if they would be willing to give you a special deal. Many companies will waive fees and lower interest rates to keep you with them.

For more information on balance transfer credit card facts and myths, Bert Wills recommends that you visit CreditCardAssist.com.

0% on a Balance Transfers Will Not Last Forever

2008-01-07T22:42:00.000-08:00

Have you ever been attracted to a credit card because it promises you an outstanding interest rate that seems just too good to be true? Most of us have at some stage jumped for one of these attractive offers. There are a growing number of credit card providers out there that will offer you 0% deals on either balance transfers or purchases, and sometimes they just seem too good to resist.

Particularly if you have a large outstanding credit card balance that you are currently paying a lot of interest on, these offers will be very tempting. In fact, many 0% balance transfer offers will save you hundreds of pounds on interest that you would otherwise have had to pay on your credit card balance. But no matter how attractive such offers may appear at the time, you should only ever take on another credit card if you have taken the time to review your finances and are satisfied that it is the right financial move for you at this time.

To look at a typical example, suppose you have one thousand pounds outstanding on a credit card that charges 10% APR. This means that over the course of a year, this balance will cost you 100 pounds in interest charges. Now suppose you find a credit card that offers you 0% on balance transfers for six months. Well it is pretty obvious that 0% is better than 10 and if you were to take up this offer, assuming there are no balance transfer fees, then how much will you have saved over the six month interest free period? The answer is 50 pounds. However, what will the interest rate revert to once the interest free period has come to an end? This is something you should be thinking about before you opt for the credit card, and not when the interest free period is about to expire and everything is more urgent. Suppose, for the sake of our example that the interest rate reverts to a rate of 25%. This means that over the next six months you will pay ?125 in interest.

While this is a very simple example, it illustrates an important point when it comes to 0% balance transfers. In the example above if the customer had stayed with his 10% card, he would have paid ?100 in interest over a 12 month period. In the same period, by opting for a 0% balance transfer for six months that then reverted to 25%, he ended up paying ?125.

The point to remember is that just because a credit card offers you 0% does not mean it is the best deal out there. Look at the long term rates that the card will offer you, and compare these to the rates you are already getting from your credit card. If your existing rate is better than the rates that you will get from the new card once the introductory offer expires, then maybe you should remain loyal to the card you have.

So while this is going on you will not be spending on the new credit card, but you will be safe in the knowledge that you are saving the interest payments on the old debt.

Peter Kenny is a writer for creditcards-gb
For additional articles and an extensive resource for everything about credit cards, please visit us at http://www.creditcards-gb.co.ukand http://www.creditcards2go4.com

Evaluating a Balance Transfer Credit Card Offer

2008-01-07T22:41:00.000-08:00

When you are going to start looking at transferring credit card balances you are going to want to look closely at those offers before you take a leap forward with the transfers from your credit card.

You are going to want to check to see how long the low introduction rate is on balance transfers. There are going to be some cards that the lower rate is only going to last a couple of months. You are even going to want to check to see if they are going to charge you a higher interest rate if you are late for a payment. Some will consider that if you are even one day past your due date you are late. There are some of the credit card companies out there that are going to charge you a transfer fee when you are planning on doing a balance transfer.

A couple of other things to look out for are the cards that say that you are pre-approved for their card. There are many times that you are going to receive the letter saying that you are guaranteed the credit card until you apply for it then they see that you may not have the perfect credit for their credit card and deny you the card. If they do send you a credit card, you may see that you are receiving a higher interest rate than what you were planning on receiving.

You are going to want to read the fine print when it comes to the annual fee as well. There may be times that they are going end up charging you an annual fee after the first year that you are with them.

When you are planning on transferring credit card balances you are going to want to make sure that you are reading all of the terms that the credit card has to offer. In addition, make sure that you take time and read the fine print as well so you know what to expect when the introductory period is up.

Rachel Nava recommends Find Credit Cards to help you find a balance transfer credit card offer.

Credit Card Balance Transfers - 0% Introductory Offers

2008-01-04T22:39:00.000-08:00

Balance transfers have grown in popularity and importance ever since lenders have started using zero per cent interest rates on balance transfers to lure consumers from other companies to their own.

Introductory Offers

These 0% balance transfer offers give the customer a very low, or zero per cent interest rate on any sum transferred from another credit card, over to them. If you are considering a balance transfer then there are two figures you should be aware of. The first is the APR on the balance transfer, or the balance transfer rate. This will tell you the interest that will be charged on the sum transferred and will generally be very low, or free.

Rate Tarts

In fact these introductory balance transfer offers are what caused the introduction a generation of ?rate tarts?. Basically a rate tart is someone who will search for a 0% balance transfer deal over and over again to save money on interest repayments. They will keep transferring balances and keep the cash they have saved in high interest bearing accounts. In a strange sort of way they actually use the banks? money to earn money from them, just what the banks have been doing to customers for years, earning money from their customers? savings. However, the banks do not like the rate tarts at all and have declared war. The first step, and a very powerful one was the introduction of the balance transfer charge.

Balance Transfer Charge

The other figure you should pay attention to is the balance transfer charge. While you may be charged nothing on the balance once it is on the new card, you may be charged a fee to get it there. This is usually pretty low, about two to three per cent, but you should be aware of it, and only pay it if you have to, and if you genuinely are going to make use of the low balance transfer rate.

Length of Introductory Offer

Another figure that will be of interest when shopping for a good balance transfer deal will be the length of time that the balance transfer rate lasts. It may be six or nine months, and most cards are generally about this period, but make sure you check, as if one card offers you twelve months at one per cent, and another six months at zero per cent, the twelve month card may be more suitable, depending on your circumstances, than the six month card, even though this card has a slightly lower rate.

Get The Best Balance Transfer Deal Available

If you are looking for a good balance transfer deal, then the most important thing to do, is make sure that you shop around and give yourself every opportunity to find the best deal that is available to you. Today, using the Internet, it is easier than ever to search among a huge range of credit card providers and find out exactly what each one is offering.

Only be doing a little home work and shopping around will you be giving yourself the best chance to find the card offers you the best deals. And with offers varying buy such large amounts from lender to lender, and given the amount that people pay on credit card payments, it is vital that you give yourself every opportunity to find the best deals available.

You may freely reprint this article as long as the author bio and live links are left intact.

For more information on credit cards, visit the comparison site http://www.CardGuide.co.uk for some credit card money making advice.

Balance Transfer Cards - An Introduction

2008-01-02T22:24:00.000-08:00

Most credit cards offer the balance transfer facility. Balance transfer implies transferring the outstanding or balance amount payable on one credit card to another credit card with a lower interest rate. Before you go ahead and opt for a new credit card, solely because of the balance transfer facility, keep the following pointers in mind.
<li>Low introductory rates on credit cards last anywhere between 6-12 months. Most of the major credit card companies have zero percent rates on balance transfers. However, one late payment is all the invitation your credit card company needs to increase the interest rates.
<li>Some low-rate cards levy a transaction fee, to avail of the balance transfer facility. Run in the opposite direction (without the credit card being offered) when you hear of a transaction fee.
<li>Ensure that your old credit card company has sent you a billing statement which states that you have cleared your outstanding balance. Make sure this tallies with the billing statement issued by your new credit card company, which confirms all the balance has indeed been transferred. Only then should you close your old credit line.
<li>Keep making minimum payments on your old card, while availing of the balance transfer facility, which may take anywhere between 2-4 weeks. Do not make the mistake of not closing the credit line on your old card. You might succumb to the temptation of charging credit to your old card and will soon be left with 2 cards and very high debt.
<li>Ensure that the rock bottom rate being offered is applicable to you also. Offers may boast of rock bottom rates, which shoot up by a large margin after an introductory period. You could qualify for a 5 percent initial rate which increases to 20% after 6 months. Some one else might qualify for a 4 percent initial rate that increases to 15 percent after 8 months. Drive a hard bargain for the best rate.

Other Balance transfer credit card features include:
<li>APR rate ranging between 9 - 11 % <li>Typically 3 other interest rates offered (Introductory, Monthly, and Annual). The Introductory rate is usually 0%, the monthly rate varies between 0. - 1.5 % percent, and the annual rate varies between 9-11%. <li>Minimum and Maximum credit limit <li>Cover against online fraud when purchasing on the Internet <li>Card replacement in case of loss <li>Customer service support 24/7/365.

Inspite of the host of credit card related features on offer, the best protection against getting sucked into the whirlpool of credit card debt is to reform your spending habits. Make a keen distinction between needs and wants before your next purchase.

Visit Smallbusiness-creditcard.com to get more information on credit cards and to compare features of balance transfer cards

Smallbusiness-creditcard.com, features credit cards from major card companies. Read our articles to familiarize yourself with credit card terms and compare various credit cards including balance transfer credit cards before you apply for one.

5 Things to Know Before You Apply for a Balance Transfer Credit Card

2007-12-30T21:45:00.001-08:00

Are you swamped with too many credit cards with outstanding payment in each? One of the things you can do to solve this problem is to get a Balance Transfer Credit Card. With this type of credit card, you can practically consolidate all your outstanding balances into one card and obtain a 0% APR for the introductory period. Just like other credit tools, you should analyze the attributes of a Balance Transfer Credit Card before applying for one.

1. Reduce your overall repayment amount

With a balance transfer credit card, you can potentially reduce your high interest rate payments from your other cards, especially if you acquire one with a 0% APR. This way, you get to break up your outstanding debt into monthly repayments and pay them off gradually over the 0% APR introductory period.

2. Getting into more debt with a Balance Transfer Credit Card

With the wrong perception of balance transfer credit cards, and the allure of 0% APR credit cards, many consumers have gotten into further debt with Balance Transfer Credit Cards. This happens when they fail to pay off their monthly repayments in full, and end up being charged higher interests once the 0% APR period is over. What's more, they continue to spend on their credit cards and end up in a mountain of debt greater than ever before.

3. Best time for balance transfers

Although you may transfer your balances at any time, the best time to do this would be the time before your following month's credit card balance has been tabulated. With this, your interests for the following month would have yet to be included into your bill, resulting in a lower amount that is transferred to your balance transfer credit card.

4. Avoiding overspending on your credit limit

As some credit cards impose penalties for charges that go above the credit limit, getting a balance transfer credit card is a good idea to help avoid this predicament. This way, getting part of your outstanding payments transferred to another card will free up some credit on your existing credit cards.

5. The process of balance transfers

Transferring balances between cards is similar to making a charge to your card. The difference here is that the amounts are debited into your balance transfer credit card account by your existing credit card company. Simultaneously, your outstanding balance on your existing credit card will be credited, lowering or eliminating your outstanding payment for this card. One word of caution though, some credit card companies regard transfers as payments for outstanding amounts, while others may require a different process for balance transfers. In these cases, it would be best that you cross-check procedures with your credit card company before proceeding.

In conclusion, balance transfer credit cards are great tools for consumers as long as they know how to utilize them in the proper way. Otherwise, they will just be instruments of debt.

Alan Bernstein recommends Find Credit Cards to apply for a balance transfer credit card today.

5 Tips for Choosing the Best Balance Transfer Credit Card

2007-12-27T22:25:00.001-08:00

If you have a number of credit cards and you'd like to consolidate your payments, a balance transfer credit card can be the right decision for your finances. Not only are many balance transfer credit card companies offering lowered or even zero percent interest rates, but you might even be able to finally pay down that debt that you've accrued.

1. Determine the amount you want to transfer

While most balance transfer credit card companies are willing to transfer larger balances for those with a good payment history, for those that do not have excellent credit, you might find that only small amounts will be transferred. And while this helps, it might not reap the rewards that you were expecting. Talk with the balance transfer credit card before deciding to sign up for their card to be sure that the amount you want to transfer will be allowed.

2. Find out the restrictions

Most of the time a balance transfer credit card company will allow you to enjoy a low or zero percent interest rate when you follow their rules. This means that you should work to understand their rules before signing up. You might not be able to purchase anything on the card for a certain amount of time, or you might have to purchase something within a certain amount of time.

3. What is your time limit?

While it would be nice if balance transfer credit card companies could give consumers unlimited time to enjoy the lower interest rates, this isn't the case. Find out how long the introductory balance transfer credit card interest rate is good for--the longer the better.

4. Can you get money back?

Some balance transfer credit card companies also offer you money back for new purchases on their card. While you probably won't get that cash back on the transfer, you can begin to reap rewards for future use. If you think that you may keep the balance transfer credit card for a while, this is a good thing to investigate.

5. What is the annual fee?

When you're trying to limit your payments, you'll want to be sure that the balance transfer credit card doesn't start off with an annual fee as well. Many balance transfer credit card companies do not make a customer pay a fee initially, but some might charge the customer after the initial time period is over.

A balance transfer credit card can help you reduce your monthly payments and get you on the road to a debt-free life, but only if the card is working for you and not against you.

Beth Derkowitz recommends Find Credit Cards for finding the best balance transfer credit card for you

Finding the Best Balance Transfer Credit Card Offers

2007-12-25T22:51:00.001-08:00

They're an alluring proposition. Like the mythic sirens luring sailors to the rocks, credit card companies offer nonstop mailings to perspective customers, trying to get them to transfer credit card balances. The credit card sirens offer all sorts of lures, such as low introductory rates, rewards programs, even zero percent interest--yet beware! The rocks of bad credit can be deadly to a happy financial life. So to protect yourself, be sure to follow these steps to knowing which credit card balance transfer options are the best, and which are actually traps in disguise.

The first thing you should do when considering balance transferring is to read the fine print of any offer. Therein lies the true intent of the credit card companies--whether they're offering fair ways to better manage your debt, or if they're trying to get you into a situation where they can make the maximum profit off of your misfortune.

Not to paint all credit card companies in bad light, because they are some that are honest and worth a look. To tell these good companies from the bad, look for the following in the fine print of an agreement. Check to see how long the intro rate will last. Is it just for four months before it jumps up to a high variable rate, or will you get 18 months at that low, fixed rate?

Then logically, you'll want to check what the rate jumps to after the introductory period is over? Will it be only a leap of a few percentage points? Or will you be in the 20+ realm of interest rates? The difference could mean hundreds, if not thousands, of dollars to you in payments.

Next, check what all the terms of the new card will be. Will there be an annual fee, and if so, how high will it be? What are the late fees for the card, and the penalty for overcharging your balance? And what happens if you do one of these infractions? Will you automatically and instantly lose your low introductory annual percentage rate?

And the million-dollar question is: What are the balance transfer fees? This is where a shady credit card company could make a killing off of your balance transfer. Some credit card companies, for instance, could charge as high as 4 to 5 percent for a balance transfer. Depending on how much you're transferring, that can really add up to a huge lump sum that is added to your balance. That leaves you to ask yourself--am I paying more for the transfer than I'm saving?

Joshua Shapiro recommends Find Credit Cards to find balance transfer credit card offers.

Facts about 0% Balance Transfer Credit Cards

2007-12-21T21:33:00.001-08:00

A 0% Balance Transfer Credit Card usually refers to a credit card that offers a new user or new cardholder a 0% interest rate for the first six to twelve months after first using the card. Usually, the 0% interest rate is a "teaser" rate that is used to persuade people to use or avail a certain credit card. This comes after a credit card holder transfers balances from one or more unpaid credit cards to the current card. Then the creditor has to pay for those debts using the new card.

Issuers like banks, generally charge balance transfer fees to reimburse the costs they incurred in handling the transfer of the unpaid debt to the current credit card account.

To take advantage of the 0% interest rate that this type of credit card offers, a cardholder must try to transfer debt balances to his current card, then paying for them as quickly as possible. Issuers of this type of card typically offer 0% interest rates on periodical payments for up to twelve months after first using this credit card.

Things to Take Note Of:

Applicants for balance transfer cards should take note of the following facts regarding this type of credit card:

1. Some card issuers disallow the transfer of debt balances from high interest accounts to this type of card during the introductory 0% interest rate offer period.

2. A handful of issuers of this card charge high balance transfer fees that cost as much as $50.

3. If you incur a late payment for even a single payment period, several issuers automatically charge cardholders with very high penalties. What's worse, they could immediately revoke the 0% interest rate privilege and change your card to a variable annual percentage rate (APR) card just for one late payment.

4. Issuers may charge the credit card holder very high interest rates right after the introductory offer period expires.

How to be a Responsible Balance Transfer Card Holder

If you want to take advantage of the short-term introductory benefits of a 0% interest balance transfer credit card, take note these simple tips:

1. Do not apply for this card if you are going to transfer small amounts or a zero balance debt for a previous account.

2. Make sure you choose a credit limit that suits your needs and at the same time complements your current financial status. The issuer conducts credit investigations to determine your ability to pay and the credit limit that you can handle.

3. Understand the long-term details of credit. Make sure that you can handle the interest rate and rigidity of the payment scheme after the introductory 0% interest rate period.

4. Quickly pay for the balances during the introductory 0% interest period. If you are going to take advantage of the 0% interest rate, make sure that you can pay for the balances during the introductory period. This is especially needed whenever a credit card holder transfers a balance from a previously high interest card.

5. Do not transfer large balances to your 0% credit card if you cannot pay for them before the end of introductory period. Failure to pay for the balance would result in the cardholder having a much larger amount to pay for compared to the original balance he wanted to eliminate.

Make sure you understand the costs you will have to incur and deal with using your new 0% balance transfer credit card. Read the fine print in the card's credit terms to make sure you will not get into financial trouble.

Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Credit Cards. Get the information you are seeking now by visiting Low APR Credit Cards

Guide To The Best Balance Transfer Credit Cards

2007-12-19T22:21:00.001-08:00

Balance transfer credit cards make an excellent choice for consumers looking to transfer a balance from a higher interest rate credit card to one with a lower interest rate. In this way, the consumer can save money by reducing or even eliminating finance charges. When looking for the best balance transfer credit cards, it is important to look at a variety of factors.

The APR is one of the first factors a consumer should consider when looking for the best balance transfer credit cards. Credit card companies are hoping to steal your business away from other credit card companies. As a result, they often make special introductory offers with lowered interest rates for balance transfers. In many cases, this APR will even be 0.00%. Be sure to find the balance transfer credit card offering the lowest APR, and then only use that card for your balance transfer. Don't use it to make any purchases. This is what the credit card companies are hoping consumers will do so they can assess finance charges on the purchases they make with their card.

The length of the special introductory APR varies from card to card. Sometimes, the length is also dependent upon the applicant's credit history. It is important to be sure how long this period lasts and to set goals to have the balance paid in full once the introductory period is complete. The best balance transfer credit cards will keep the special introductory rate in effect on the card for the life of the loan. In other words, the APR stays the same until it has been paid off entirely. For consumers that will not be able to pay off the balance within the introductory period, this is certainly the best way to go.

Most credit cards assess fees when making balance transfers. These fees are generally determined as a percentage of the total amount of funds transferred. Most commonly, balance transfer fees are 3% of the amount transferred. Many balance transfer credit cards will, however, waive these fees during the introductory period. It is best for consumers to choose these balance transfer credit cards. Otherwise, they may be paying large amounts in fees, negating the savings in finance charges.

Some balance transfer credit cards require initiating balance transfers at the time of application for the card. Yet others allow balance transfers to be completed throughout the duration of the introductory period. The best balance transfer credit cards are the former, simply because they allow for more flexibility. Consumers who are sure they will not need to transfer balances later may, however, be happy with a credit card that only allows transfers to be made at the time of application.

Some balance transfer credit cards place restrictions on the types of balances that can be transferred. For example, some business credit cards only allow business expenses to be eligible for introductory rates. It is important for consumers to be sure to understand what type of balances can be transferred before applying for a card to ensure it meets their needs.

Many balance transfer credit cards also have special rewards programs. Consumers need to compare the programs before deciding on a credit card so they can choose the card with the rewards program best suited to their lifestyle. In addition, some balance transfer credit cards do not count the funds that are transferred toward the points system used in the rewards programs. To get the most of the card, consumers should find balance transfer credit cards that do count the transfers toward their rewards programs.
Will Roberts recommends you visit CreditCardAssist.com to learn more about the best balance transfer credit cards currently available in the marketplace.

Fixed APR Balance Transfers: Better Than A 0% APR

2007-12-17T22:24:00.001-08:00

0% balance transfers offer great short term savings, free up money to pay down debt quicker, and can ultimately save consumers hundreds, if not thousands of dollars in interest over their duration. However, the very best 0% balance transfer offers on the market only last 15 months. For many, this is not enough time to completely eliminate their credit card debt and they are faced with a decision: pay the new regular interest rate or transfer their balance again. For most, a fixed APR balance transfer credit card never enters their mind. However, this balance transfer offer is often the best option for many credit card users.

First, let me explain a 0% balance transfer worst case scenario. An acquaintance of mine thought he could save a few thousand dollars in student loan interest by transferring his balance to a 0% APR credit card. The student loan had a fixed APR of 7.99%. He figured he?d save $1600 the first year on his $20,000 loan, then transfer the remaining balance to a new 0% APR credit card the next year.

What he didn?t realize was that its not always that easy to get approved for a new 0% APR credit card year after year, especially when you have a high amount of credit card debt. When it came time to transfer the $18000 left on his credit card, he was only able to get a $2000 0% balance transfer. He was stuck with $16000 of credit card debt with a 12% interest rate and the clock was ticking on his other $2000 in debt. Instead of a comfortable fixed APR of 7.99%, my acquaintance got stuck in a credit card nightmare.

Fixed APR balance transfer credit cards provide consumers with a much better way to pay down long term debt such as student loans or car loans at a set interest rate. Currently, some credit card companies are offering fixed APR credit card rates as low as 3.99% for the life of the balance. A rate such as this is lower than many student loan and car loan rates, and can provide consumers savings of 3% or even 10% on long term debt each year.

A fixed APR balance transfer is also a good option for individuals with high credit card debt considering a second mortgage to pay off their high interest credit cards. For example, a 3.99% fixed APR may be lower than a second mortgage?s interest rate and it wouldn?t involve costly refinancing fees. More importantly, however, is the fact that a fixed APR balance transfer doesn?t remove equity from your home.

0% balance transfer credit cards offer consumers great short term savings. In the long run, however, a fixed APR credit card provides a viable, interest saving option for those looking to reduce higher interest loans and credit card debt over a period of more than 12 to 15 months. Imagine how much better off my friend would be if he transferred his $20000 balance to a 3.99% fixed APR credit card instead of getting greedy with 0% APR credit cards.

Jeff Weber is President & CEO of Credit Card Depot Inc. His primary website, http://www.credit-card-depot.com, has covered the credit card market for over two years, providing consumers with detailed credit card information and links to online credit card applications. Over 40,000 individuals visit Credit Card Depot each month.

Balance Transfer Credit Cards - Finding the Best Available

2007-12-14T22:02:00.001-08:00

Balance transfer credit cards are those that make an excellent choice for transferring balances from one card to the other. The main purpose behind transferring balances is to remove debt from a card with a higher interest rate to one with a lower interest rate. In this way, the consumer can save money by reducing or even eliminating finance charges. When looking for the best balance transfer credit cards, it is important to look at a variety of factors.

The Annual Percentage Rate (APR) is one of the first factors a consumer should consider when looking for the best balance transfer credit cards. Credit card companies are hoping to steal your business away from other credit card companies. As a result, they often make special introductory offers with lowered interest rates for balance transfers. In many cases, this APR will even be 0.00%. Be sure to find the balance transfer credit card offering the lowest APR, and then only use that card for your balance transfer. Don't use it to make any purchases. This is what the credit card companies are hoping consumers will do so they can assess finance charges on the purchases they make with their card.

The length of the special introductory APR varies from card to card. Sometimes, the length is also dependent upon the applicant's credit history. It is important to be sure how long this period lasts and to set goals to have the balance paid in full once the introductory period is complete. The best balance transfer credit cards will keep the special introductory rate in effect on the card for the life of the loan. In other words, the APR stays the same until it has been paid off entirely. For consumers that will not be able to pay off the balance within the introductory period, this is certainly the best way to go.

Most credit cards assess fees when making balance transfers. These fees are generally determined as a percentage of the total amount of funds transferred. Most commonly, balance transfer fees are 3% of the amount transferred. Many balance transfer credit cards will, however, waive these fees during the introductory period. It is best for consumers to choose these balance transfer credit cards. Otherwise, they may be paying large amounts in fees, negating the savings in finance charges.

Some balance transfer credit cards require initiating balance transfers at the time of application for the card. Yet others allow balance transfers to be completed throughout the duration of the introductory period. The best balance transfer credit cards are the former, simply because they allow for more flexibility. Consumers who are sure they will not need to transfer balances later may, however, be happy with a credit card that only allows transfers to be made at the time of application.

Some balance transfer credit cards place restrictions on the types of balances that can be transferred. For example, some business credit cards only allow business expenses to be eligible for introductory rates. It is important for consumers to be sure to understand what type of balances can be transferred before applying for a card to ensure it meets their needs.

Many balance transfer credit cards also have special rewards programs. Consumers need to compare the programs before deciding on a credit card so they can choose the card with the rewards program best suited to their lifestyle. In addition, some balance transfer credit cards do not count the funds that are transferred toward the points system used in the rewards programs. To get the most of the card, consumers should find balance transfer credit cards that do count the transfers toward their rewards programs.

Robert Willard recommends you visit CreditCardAssist.com to learn more about the best balance transfer credit cards currently available in the marketplace

The Perils of Credit Card Balance Transfers

2007-12-12T22:15:00.001-08:00

For people who could not seem to manage their finances, they end up getting into debts. This is especially true to those who have accumulated too many debts that they can no longer handle the problems anymore.

In reality, 81% of the households in the U.S. today have at least one credit card. But sad to say, out of this percentage, it was reported that the average credit card balance that they accumulate is $8, 387.

The point here is that if these people will not trim down the balances that they accumulate on their credit cards, chances are, they will really get into bigger trouble.

When that time comes, the only way to correct the problem is to employ drastic solutions such as credit card balance transfers.

Balance transfers simply means to transfer the remaining balance in the credit card to another card in order to eliminate the presence of a big interest rate. Usually, people opt for credit card balance transfers so that they can get a new card with lower interest rate.

The "low interest rate" features of most credit cards who offer balance transfers are actually known as teaser rates. These credit card companies offer much lower rates so as to entice people to transfer to them.

What these people do not know is that most credit card companies that offer low interest rates for balance transfers are actually applying the interest rate from the day the consumers had transferred their balances. This goes to show that with credit card balance transfers; there is actually no "interest-free" time.

Another thing is that the low interest rates that credit card companies usually offer when transferring balances are only good for a certain period of time, usually, within a 6-month period. That means when the allotted period is finished, the regular interest rate charges apply.

Moreover, the rules in credit card balance transfers, when it comes to late payments are much stricter. For instance, if a person fails to pay his or her due payment on time, the low interest rate is instantly replaced by a higher one.

What the consumers do not realize is that the low interest rates are only good on balance transfers, but once they have made some purchases, higher rates will be applied. These are all stipulated on the fine print. The problem is that most of the credit card users do not take highly of the things written on the fine print.

Another problem with most credit card users who opt for balance transfers is that they have this thinking that their debts are paid off. What they do not realize is that the process is simply transferring the balances and the debts remain the same. This is because most of the credit card companies that offer balance transfers use the phrase "pay off your balances on other cards" in their advertisements.

Therefore, the only best solution to this alarming condition is to do some homework. Not all credit card balance transfers have these dangerous hidden agenda. The important thing to do is to research on the rules of the company and identify if the low interest rates are not just teaser rates.

Best of all, if ever an individual was able to get some good credit card balance transfers with the best interest rates, it would be better if they stay out of debt and pay their monthly dues on time. In this way, they do not have to contemplate on the interest rates.

Besides, credit card users do not have to engage into balance transfers if they can manage their finances well. It is simply a matter of proper budgeting and lifestyle.

Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Credit Cards. Get the information you are seeking now by visiting Credit Card Balance Transfers

What are Zero Balance Transfers?

2007-12-09T22:05:00.002-08:00

Many banks offer zero balance transfers from your old credit card to a new one. Balance transfer for credit cards means transfer of your credit card dues from a high APR card to a low interest or zero interest credit card. In certain cases, balance transfer also involves transfer of funds from a bank loan account to the credit card for a specified period of time. Such loans have a low or 0% interest.

Most people desire a credit card with a low interest rate or APR (Annual percentage rate). However, if you have already taken a credit card with a high APR, you can still enjoy 0% APR by getting a balance transfer. Yes, the competition among credit card issuers and their desire of having more card members have resulted in number of offers where the card issuing companies makes attractive offers for balance transfers. Some of the balance transfer offers are 0% APR on balance transfer, no interest balance transfer or offer for credit balance transfer rewards.

Usually balance transfer is undertaken when there is an outstanding balance on credit cards even after making regular monthly payments. This amount is transferred to another credit card without inviting any interest for the period of offer. Before you avail 0% on balance transfer, keep in mind that you should have at least made the minimum payment due on your credit cards. However you should not make balance transfer a habit if your debt is increasing.

Applying for Balance Transfer

Once you have created an atmosphere of trust with a favorable credit history that you can apply for a no interest balance transfer or balance transfer with 0% APR credit. Normally, you will get a 0% APR on a balance transfer for a maximum period of one year. If you are interested extended duration for 0% APR, you can avail offers such as Chase Platinum Card offering 0% interest up to one and half years. If you maintain good credit and have organized yourself well you can get credit balance transfer rewards moving from one card to the other and closing the account before the lender starts charging higher interest.

Avoid Default Rate

While going in for a no interest balance transfer you must look into the various benefits associated with it. A 0% APR on balance transfer would be the most desirable with a long period of offer. You should also be cautious about any hidden costs and the handling charges attached with the balance transfer offer. However, if you falter on your monthly payments, you will loose the benefit of 0% interest and end up paying a default rate, which is usually a whopping 30%.

Though most of the credit cards will not penalize you for one late payment but if you are not having good track record, then even one late payment will invite the 30% interest. Until and unless there is no interest on the balance transfer it is not advisable to go in for new purchases with a balance transfer card. You can save yourself the trauma of being burdened with 30% interest by going in for automatic payments through your bank.

This is the best way to make the payment. You will save substantial amount of money on interest. You should also make it a habit of getting your credit report for a thorough scrutiny of any mistakes even though you may have been careful of not going into bad debt. With careful planning you could enjoy the benefits of the credit card without loosing your hard earned money in interest paybacks

Visit http://www.creditcardlounge.com/balance-transfer-credit-card.html to select your Balance Transfers Credit Card with 0% APR, no annual fee, and unlimited cash rewards. Need instant cash? Check out http://www.ez-loan.biz/onehour-instant-cash-advance.html for Instant Approval Cash Advance with one hour processing time.

Save Money With A Balance Transfer Credit Card

2007-12-09T22:05:00.001-08:00

It is estimated that about a third of people fail to pay off their credit or store card balances in full every month, and therefore pay interest on the balance. If that applies to you, the chances are you could save money by applying for a new credit card which offers zero (or low) interest balance transfers.

The way this works is that you take out a new credit card offering such a deal and immediately ask them to pay off the debt on your old card. The balance on your old card then becomes zero, and the entire balance goes on to your new card instead, with its zero or low interest rate.

A number of card issuers offer these deals. Zero rate offers typically last from five to twelve months. If you are confident that you can pay off the entire balance during this time, they are a good choice for saving money.

If you think it may take longer to pay off the outstanding balance, a better option may be to apply for a card which offers a low rate for the entire life of the balance (i.e. until it is repaid). American Express? offers a fixed, low APR for the life of the balance with its Platinum card.

If you are currently paying interest on a balance with your current card, it makes sense to transfer your existing store or credit card balance to another provider. There are a few points to watch out for, however.

1. Check if there is a charge for balance transfers

Balance transfer fees are becoming more common as credit card issuers try to recover some of the money they lose by offering interest-free periods. Fees range up to 2% of the total balance. However, there are still several card providers offering free balance transfers.

2. Remember to pay off your balance every month

Even though the card issuer offers an interest-free period, you will still have to make the minimum monthly payments by the monthly due date, or you will be charged interest.

3. Avoid spending extra on the card used for the transfer

Most credit cards pay off balance transfers preferentially, so if you incur any other debts on the card, they will not be discharged until the entire transferred balance is paid off. That means any new spending will be ?trapped? on the card, accruing full interest charges. If you are using your new card to service a balance transfer, therefore, do NOT use it for additional spending as well ? use another card instead.

4. Switch again when the introductory period expires

If you have failed to pay off the balance completely once the 0% introductory rate for balance transfers expires, you could apply for another card and transfer your balance again. However, if you plan to do this you should always remember, in the month the 0% deal ends, to move the debt again to another 0% offer. This means you will need to apply for another card about six weeks before the introductory period ends. You will need to be well organized and remind yourself to do this.

5. Note that your credit rating may suffer

If you apply for a number of credit cards, especially at the same time, your applications will be noted by the credit reference agencies, and your credit score may suffer. The most important preventative measure is to spread card applications out. Do this and most people with reasonable income and no bad debts will be fine, though be aware that there will be a small risk to your ability to get competitive credit in future.

Having decided on the type of balance transfer deal you are looking for, do take the time to study the market and see what is available. Do not simply fill in and return the next credit card application form that arrives in the mail. Credit card comparison sites such as www.finest-credit-cards.com can make this easier for you by listing all current card offers for you to choose from, and also have a range of articles offering unbiased advice and information.

Nick Davis is the owner of http://www.finest-credit-cards.com, which aims to match you up with the ideal credit card to suit your situation. With details of all the leading card offers updated daily, plus informative articles to guide you in your choice, you will never pick the wrong credit card again.

Zero percent Balance Transfers can damage your Health

2007-12-06T22:37:00.001-08:00

What you are about to read may make you reassess your attitude to zero interest balance transfer offers. I will show how these balance transfer offers are pushing more and more people into serious financial difficulties and I will suggest a few ideas on how you can manage your debt better.

Credit card debt is rising at an alarming rate and many people are now getting into serious financial difficulties. One of the reasons is the promotion of no interest balance transfer offers and interest free initial periods.

Like most people, I've been tempted by the these offers to change my credit cards. I've taken them up on their offer and moved my credit card debt and, for a limited time, had no interest to pay. But "just in case of an emergency" I usually hang onto my old card.

Then something happens, an unexpected bill, or a wedding or birthday gift I've forgotten about. "Never mind" I tell myself "I can put it on the old card - there's plenty of credit on there so it's no problem."

A few months and a few unexpected bills later the interest free period runs out I have to pay interest on both my new card and the old card. Now I'm worse off than when I started but that's no problem as I can look for another card offering another interest free period and zero interest balance transfers.

It's so easy and the banks and credit card companies are so eager to lend the money that it becomes routine, until that is, something goes wrong. You could fall ill and be off work, or, you could lose some overtime and your wages fall, or maybe that big deal you were relying on falls through.

It may just be that the credit card companies decide you have too much outstanding on credit cards and you would have difficulty paying the repayments, or simply they spot that you are a regular churner of the debt and they don't want your business.

Whatever the reason the result is that you have all the interest to pay and you start to struggle with the minimum payments and miss one or two. Because you've missed payments it becomes even more difficult to find the next interest free balance transfer offer.

Now you have a real problem but it is one that can be avoided.

I could suggest that you don't use credit cards but I suspect that would not be acceptable, and I am not going to suggest you ignore the 0% offers - that would mean you paying interest when it is not needed.

The simplest way to benefit from these balance transfer offers, but keep your card debt under control, is to cut up your old card when you switch to a new one.

That way you benefit from the 0% offer but minimize your exposure to higher debt.

Once you have cut your card up though, it is essential that you contact the card issuer and close the account. Until you close the account the card issuer will continue to tempt you with special offers to use your old card.

Another tip is to never pay just the minimum payment. Always pay the maximum monthly payment you can afford. Reducing your payments simply pushes back the time when you have to repay and in the long term increases your payments. Use the interest free period to reduce your debt to the minimum and if possible clear the balance.

Credit card companies don't offer an interest free balance transfer because they are feeling generous. They do it because, in the vast majority of cases, they will be able to charge you more in the longer term. Use interest free credit to benefit you not the credit card companies.

John is 51 and lives in Manchester in the UK. He spent many years in insurance and finance now writes full time for a number of web sites. Go to Credit Card Debt for more information on how you can get the best from your credit cards.

Balance Transfer Disasters

2007-12-03T22:23:00.000-08:00

One of the most popular innovations in the past number of years has been the introduction of the zero per cent balance transfer. This has revolutionised the finances for many indebted customers. How it works is if you have very high interest charges on one of you?re out standing credit card balances, then you can transfer it to a new credit card. In exchange for getting your business in this way, the new credit card provider will give you a zero per cent interest rate on the sum transferred for a period of usually, six to nine months.

While taking advantage of these zero per cent offers is highly advisable, as it can save you literally hundreds on interest charges, there are still precautions that you should take if you wish to avoid some costly mistakes. The first thing to realise is that there are different types of zero percent. What you will most likely come into contact with is zero per cent on balance transfers or zero per cent on purchases. You must not confuse the two.

If you have zero per cent on balance transfers then that will not mean you have zero per cent on purchases, so any purchases you make during your zero per cent period will not be at zero per cent but at your standard rate. This can be very important if we look at the situation using an example.

Supposing you have five thousand pounds on a credit card a 15%. If you transfer this to a card that gives you 0% on balance transfers for nine months you will save hundreds on interest. However, supposing the new card has a standard rate of 15% also. Now, if you have your five thousand on it safely at 0%, but suppose you make one hundred pounds worth of purchases. And then you pay back one hundred pounds; the one hundred you pay back will be applied to the first one hundred of the five thousand-balance transfers. This will leave you with 4,900 left at zero per cent on the balance transfer, and 100 as a purchase that attracts the standard 15%.

In this way you can quickly see how a zero per cent balance transfer can become a 15% purchases balance.

Peter Kenny is a writer for creditcards-gb. For additional articles and an extensive resource for everything about credit cards, please visit us at http://www.creditcards-gb.co.uk and http://www.creditcards2go4.com.

info@creditcards-gb.co.uk

Balance Transfer Disasters

2007-12-03T22:22:00.000-08:00

There has been a rapid growth in the availability of zero per cent rates in the credit card industry. These have been caused by the combination of very low national interest rates, and the injection of fierce competition from American lenders such as Capital One. The UK credit card industry is now recognised as one of the most sophisticated and competitive credit card markets in the world.

One of the most popular innovations in the past number of years has been the introduction of the zero per cent balance transfer. This has revolutionised the finances for many indebted customers. How it works is if you have very high interest charges on one of you?re out standing credit card balances, then you can transfer it to a new credit card. In exchange for getting your business in this way, the new credit card provider will give you a zero per cent interest rate on the sum transferred for a period of usually, six to nine months.

While taking advantage of these zero per cent offers is highly advisable, as it can save you literally hundreds on interest charges, there are still precautions that you should take if you wish to avoid some costly mistakes. The first thing to realise is that there are different types of zero percent. What you will most likely come into contact with is zero per cent on balance transfers or zero per cent on purchases. You must not confuse the two.

If you have zero per cent on balance transfers then that will not mean you have zero per cent on purchases, so any purchases you make during your zero per cent period will not be at zero per cent but at your standard rate. This can be very important if we look at the situation using an example.

Supposing you have five thousand pounds on a credit card a 15%. If you transfer this to a card that gives you 0% on balance transfers for nine months you will save hundreds on interest. However, supposing the new card has a standard rate of 15% also. Now, if you have your five thousand on it safely at 0%, but suppose you make one hundred pounds worth of purchases. And then you pay back one hundred pounds; the one hundred you pay back will be applied to the first one hundred of the five thousand-balance transfers. This will leave you with 4,900 left at zero per cent on the balance transfer, and 100 as a purchase that attracts the standard 15%.

In this way you can quickly see how a zero per cent balance transfer can become a 15% purchases balance.Peter Kenny is a writer for creditcards-gb For additional articles and an extensive resource for everything about credit cards, please visit us at http://www.creditcards-gb.co.uk and http://www.creditcards2go4.com

0% APR Introductory With Balance Transfer Option

2007-12-02T22:25:00.000-08:00

The Christmas Holiday Season brings retailers 25% and more of their yearly sales. It's safe to assume the month of January most likely shows the highest consumer credit card balances. As impulse buying often times is the culprit in charging more than we planned, it's easy to see how one could get carried away during the 'season of giving.'

Now it's January and those bills have started coming in. Two or more credit cards with high balances can take a bite out of your budget. The easiest solution for many consumers is to apply for one of the many 0% APR introductory credit cards with balance transfer options. This could lower their payment by consolidating their bills and at 0% interest to boot!

When you're looking into all the offers of 0% Introductory credit cards that allow you to transfer the balance from other cards, you need to compare offers carefully. Be sure you read the fine print. We often times get into the habit of getting excited with the hype and fail to read the details.

When you're considering a new 0% APR credit card, look into how long the introductory period is. It varies from card to card. It can be six months or twelve months with some newer offers up to eighteen months. How long is it going to take you to pay the balance down to where you're comfortable with it?

Then there's the issue of the balance transfer. Is there a fee for the balance transfer? Some cards do not charge a fee to transfer and others charge as much as 3%.

The 0% offers usually apply towards any amount you transfer over from other cards; but, does it apply to new purchases? This feature also varies. Sometimes it's just the 'balance transfer' amount and other times it includes 'new purchases' as well.

Another thing consumers should be concerned with when applying for a 0% APR introductory offer with a balance transfer feature, is what is the interest rate after the introductory period is over? This really can vary by several percentage points. Is it comparable to the competitors?

Last but not least, individuals need to be aware that if they should become delinquent prior to when the twelve month period is over, that 0% APR is gone. The offerers can now charge as much as 32% in some instances when your account is not kept up with the terms of the card. This could put quite a dent in the balance owing and the monthly payment as well.

The 0% APR introductory offer can be a great help to your financial situation. Just be sure to read the fine print. Know that you will be able to keep the terms and that the additional features of the card, including rewards offered, is what you're looking for.Bradley Carson is an online marketer and is the owner of http://www.cards-king.com/

The Best Balance Transfer Credit Cards: Get Yours Now!

2007-11-30T22:47:00.000-08:00

Have you read your credit card statement lately? Do you know what your annual percentage rate is? How about your annual fee? You may be surprised to learn that your current card is not the bargain you once thought it was. If you are tired of paying fees and big monthly payments then shopping for a new credit card is a must. Some balance transfer cards are better than others; here are some things for you to look for with your new card:

Low Introductory Rate - If you are paying a high interest rate for your current credit card you can save yourself plenty of money by shopping for a card with a low introductory rate. Yes, there are still many balance transfer credit cards available that will give to you a rate as low as 0% for twelve months. By obtaining one of these cards you could save yourself hundreds of dollars per month and pay off your outstanding balance faster.

Transfer Fees - Balance transfer credit cards may charge you a small fee to make a transfer. Still, there are some cards that charge no fee on the initial balance transfer upon applying. It may be to your advantage to pay the transfer fee especially if you are going from a high annual percentage rate card to a low percentage rate card. Crunch some numbers to find out which card works best for you.

Save on Annual Fees - To secure your business, many balance transfer credit card issuers such as Chase and Citibank charge no annual fee. This can be a nice alternative for you especially if you have been paying $35, $50, $85, or more for your current card annually.

Get Rewards - A nice option for many consumers are those balance transfer credit cards that reward you for using that card. Depending on the plan, you can quickly accumulate airline miles, hotel stay credits, take a cruise, rent a car, accumulate points toward receiving free gifts, and more. Some cards, such as the Citi Diamond Preferred Rewards Card, will even give to you bonus points upon your first purchase of any amount!

Get Rebates - Like a typical reward card certain balance transfer credit cards will give to you cash rebates toward the purchase of a new or used car or toward repairs on your current car. The Citi Drivers Edge Platinum Select MasterCard is an example of one such card making this offer.

Perhaps the best thing for you today is that choosing a new credit card is to your advantage. Never before have terms, fees, and benefits been this good. There is no telling how long any offer will last, but if you act now you can obtain a balance transfer card that works best for you. To find your next card, searching online makes comparing all of the best credit card offers a breeze.

Ed Vegliante runs www.credit-card-surplus.com , a credit card directory enabling the consumer to compare and apply for credit card offers including Balance Transfer Credit Cards .