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How_To_Choose_The_Best_Balance_Transfer_Credit_Card

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									How To Choose The Best Balance Transfer Credit Card

Word Count:
612

Summary:
This article focuses on the needs that an individual may have for a
balance transfer credit card, and the things they need to look for when
choosing the best card for them.


Keywords:
Balance Transfer Credit Cards, Balance Transfer Credit Card, Credit Card
Balance Transfer, Balance Transfers, Balance Transfer


Article Body:
Credit cards are often the cause of financial troubles for many people
today. They are often so easy to get - but they can also be so hard to
control. However, by taking advantage of some special balance transfer
credit cards, help can be found that could bring some ease to financially
tight situations. This article will focus on how to choose the best
balance transfer credit card, making sure that the card you pick is the
right one for you.

What Is A Balance Transfer Credit Card?

This particular kind of credit card allows you to take an existing credit
card balance, which is at a standard rate of interest - possibly as high
as 29%, and put it on another card. The new card makes the transfer
appealing to you by offering either a low monthly interest on the
transfer, or even no interest on the balance - for the life of that
transfer amount. Making this kind of a credit card balance transfer not
only makes good financial sense, but it is also easy to do.

What Are The Special Gimmicks Of The Card?

Obviously, a credit card issuer is not in the business of giving an
opportunity like this away without any potential strings attached. Here
are a few things that you might want to read the fine print in the offer
and look for.

• Transfer Charges

Some credit card companies seem to want to play with the fact that not
everybody reads the fine print. So, for the unwary, there could be a fee
for making the balance transfers, or, it is possible that other
advantages made in the offer could offset the transfer charges. You will
have to look it over and compare it with other card offers. Ideally, if
you accept a card with transfer charges, try to get one that puts a cap
on the amount - for example, around $60 to $75.

• Yearly Charges
The transfer may be free, and the interest, but there could be an annual
fee for the use of the card. This means whether or not there is any
balance on the card - you will still pay the fee for as long as the card
is active. Many cards will carry no annual fee.

• New Purchases

Here is another thing that you need to look for. A balance transfer
credit card may offer you 0% interest on the amount transferred, but the
amount of interest on new purchases could be very high.

• Introductory Rate

Every card has an offer to get you to get their card. One common feature
is the promise of a low rate for new purchases. Be careful about focusing
only on the promise of 0% interest on credit card balance transfers.
Check out the length of time for the introductory interest rate, too.
Compare that also with other card offers.

What Are You Going To Use The Card For?

Another consideration about which card to choose should be based upon why
you need such a card. If you have a lot of credit card debt, then the
purpose should be only to put on the card your current credit card
balance transfers. This means that you should try to get a card with 0%
interest on the balance transfer amount, and that you will not use it to
make new purchases. Also, seek to pay as much as you can as quickly as
you can.

When choosing your balance transfer credit card, the ball game is in your
hands. It can either help you - or hurt you, if you get a card too
hastily. Do a little research, compare cards, and then proceed with
comfort - knowing that you got the best one for your needs.

								
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