Specifically 0 Balance Transfer Credit Cards are normally used to transfer credit balance from higher interest credit card fund to another account of lower or 0 interest credit card rate.
Balance transfer usually attracts a fee, 0% Balance Transfer Credit Cards allows you to transfer balance without incurring any fee within a specified period.
Most balance transfer offers are associated with 0% APR or interest free credit cards offers. These are cards that offer you about 60 days to 18 months of interest free spending on your credit card before the interest kicks in.
There are many issuers of credit cards, if you’re hunting for 0 Balance Transfer Credit Cards also take the advantage of the interest free credit cards as combination of these offer will help you save a lot of money on interest if you’re someone that always carry balance on your credit or you want to used the new card to pay of your previous debt over the duration of the 0 balance transfer offer.
Best way to have great deals
* To have a 0% balance transfer credit cards is good, remember that not all of the offers are created equal; you need to evaluate each card offer to make sure you understand the terms and conditions of the card before you can decide which card best suits your need.
* Duration of the balance transfer matters. Most card issuers offer 6 to 12 months but there offers of up to 18 months nowadays. Select the card that will give you longest time on at 0%.
* Watch out for the interest rate of the card at the end of the promotion. Most cards may charge you higher than normal APR at the end of the promotion if you plan on using the card after you have paid off your balance.
* There are cards that carry annual membership fee. Understand that the card you’re about to acquire do not carry any annual membership fee
* Balance transfer fee. Most fees range from 0% – 3%, or a fixed price. Find out the maximum amount that the issuer will allow you to transfer without incurring any additional fee on the transfer. Substantial amount of balance transfer might incur a huge amount of service fee.
* Some cards carry rewards and cash back. Depending on your particular needs, you can consider credit cards with rewards bonuses, point cards, cash back cards, sign up bonuses and others.
* As you will find out many of these credit cards have some form of cash back or other rewards, which makes the a better option to use after the end of the promotional period
* Many of these 0 Balance Transfer Credit Cards offers looks great and tempting please make sure you take time to read the terms and conditions as well as the fine prints before accepting a particular card offers, if not you might find yourself in a worse scenario than you were initially.
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