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Credit_Card_Balance_Transfers_-__0__Introductory_Offers

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					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.

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