credit cards
credit card
Search by Type of Category

Balance transfer credit card tips

Home >> Balance transfer credit card page 1 >>Balance transfer credit card tips

A high credit score invites a good turn- debt clearance without the burden of interest.As the popularity of the balance transfer credit card gains market, its business time for the card issuers, its time to woo prospective customers. One of the most favoured one is the 0% balance transfer credit card offer with low interest rates. Many apply for the card without realizing the consequences the surprise add-ons etc. You may go for multiple balance transfers. The condition being a sufficiently high credit scores. With so many applicants the issuing companies are wary of the sole motive of the customers, hence it is better to check out the credit limits before you even mention about the balance transfer. In this way you will be in control of the situation. A little alertness keeps unpleasant surprises at bay.

Any which way the company earns your business, so don’t get carried away by the false claims 0% interest rate for12 months.(details in fine print) It is not a good policy the attempt to transfer balance during a poor credit stage, as in the process you might land into big trouble. If only you are sure about paying off the balance within the specified period or else the trouble starts as the introductory period ends. Yet another card is a dream until then. It is not all bad news, as the credit cards can help you get out long outstanding debts if used properly. Balance transfers help you get out of a tight situation, and if carefully monitored, the credit score will stabilized in time. It is how best you take advantage of this opportunity to clear pressing debts.

The credit card rate structure fluctuates in the financial climate; means the rate of interest and balance keep changing. The credit scores way as much as upto 35%, so it is best to maintain low balance to credit limit ratio as the credit score rating could fluctuate as well. It is wise to be moderate! The transfer fee could be a certain percentage of the transfer amount, without a cap on that amount it could prove dearly. Most companies charge a balance transfer fee of 3% and have cap on the amount. While there are other card issuers that waive off the transfer fee and instead charge for an application fee or account set-up fee.

The fine print says it all; it needs to be seen closely. ‘The rates can change without prior notice’ such clauses can render losses for you. The introductory offer remains unaffected unless you make a late payment. The credit cards have means to kick start a regular interest rate by all means, so better to check the grace period and stay ahead of the grace period and make provision for payment well in advance. Rely on the auto payment whereby bills are paid directly from the bank account automatically. A choice between bank or credit card company. The later is best as it is safer.

One may minimize debts but never eradicate debts- it’s a myth!

*See the online application for details about terms and conditions Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. When you click on the offer you desire you will have an opportunity to review the credit card terms and conditions on the credit card issuer's web site.
© Copyright 2012 All Rights Reserved.