Balance Transfers Credit Card Primer (PDF download)

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Balance Transfers Credit Card "Primer"

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Balance transfer credit cards are credit cards that transfer the balance from one card to another card.
Cardholders often search for these types of credit cards to eliminate or reduce finance charges and save
money. Balance transfer credit cards are like any other credit cards, therefore looking at the variety of
features will help you make the best choice.

Balance Transfer Credit Cards,Best Balance Transfer Credit Cards,Balance Transfers

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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!

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