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

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

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.

Take Advantage Of A Balance Transfer Credit Card

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

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

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

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

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

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

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

Credit Card Balance Transfers - Know How To Save Money

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

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

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

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

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

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

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

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

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

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

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

The True Value of Balance Transfer Credit Cards

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

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

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

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

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

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

Your Quick Guide to Balance Transfer Credit Cards

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

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

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

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

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

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

No Fee Balance Transfer Credit Cards

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

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

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

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

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

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

Perils Of Repeated Balance Transfers!

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

Balance Transfer Debt Reduction System

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

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

New Credit Card Stipulations

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

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

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

Further Problems That May Arise

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

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

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

All About Credit Card Balance Transfer

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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.

Get Interest Free Cash With 0% Balance Transfers

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/

Evaluating a Balance Transfer Credit Card Offer

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.

Balance Transfer Credit Cards - Finding the Best Available

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