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Credit Card Balance Transfers 0 Introductory Offers (PDF)

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					Title:
Credit Card Balance Transfers - 0% Introductory Offers


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575


Summary:
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 ...



Keywords:
Credit cards, introductory, balance, transfer, transfers, best, rate, tart, interest, 0, zero, rate,



Article Body:
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.




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