The Best Balance Transfer Credit Cards
This article describes how to identify the very best balance transfer
credit cards available for consumers.
Balance Transfer Credit Cards,Best Balance Transfer Credit Cards,Balance
Transfer Credit Card
What is the concept of a balance transfer credit card? To put it simply,
making 0% interest balance transfers from one credit card to another is a
great way of answering the age-old conundrum: how to have your cake and
eat it too. You have nothing to lose — but to gain you have a bundle of
money that could have disappeared while you paid high interests on
purchases and loans you’ve made on your current credit card(s). Sounds
like an interesting proposition? It most certainly is! Balance transfer
credit cards are there to save you in the hour of need. And then there
are the best balance transfer cards. We call them best for a reason; flat
zero percent interest rate being one of them.
The Basic Advantage of Balance Transfer Credit Cards
However, good things generally don’t last for too long in this world, and
0% interest rate offers on balance transfers would usually be valid only
for short periods like three or six months, after which, normal credit
card interest rates kick in. Still, that is plenty of time to relax and
breathe free! Not all credit cards have this zero percent interest-rate
facility though; what most cards do offer is a significantly reduced rate
of interest on balance transfers. Either way, a bargain is a bargain and
we the consumers end up saving a little more than a paltry sum!
Cool Features of Balance Transfer Credit Cards
Furthermore, balance transfers need not only be made from one credit card
to another, the best balance transfer credit cards can be used to pay off
most types of financial debts. The bottom line is: you stand to gain from
a balance transfer credit card whichever way you look. So look around for
some good balance transfer offers on regular credit cards or for an
exclusive balance transfer credit card, and go for one that seems to be
the most suited for your needs. Also remember that the best balance
transfer credit cards have attractive reward schemes to motivate you -
their customer - to use their cards to the maximum capacity!
The Rationale behind Balance Transfers
Often credit card companies are detested by people for their seemingly
exorbitant rates of interests. They are portrayed as financial leeches
that suck the blood off us common folks at the least opportunity. That
may or may not be true since all lending banks and credit card companies
come under strict federal regulation and supervision. However, it is time
we get back at them and rip them off left right and around, out of pure
spite! What say?
Many smart people in fact come close to doing so by routinely getting new
balance transfer credit cards that usually have a promo offer of a zero
percent interest rate for the first year or so, and then they rotate the
outstanding amount from one card to another ad indefinitum. Pretty neat!
It may even look like a little con trick but it is perfectly legal and
could be the most logical thing to do for any person trying to make ends
meet. Aren’t we all, by the way? In this turbulent chaotic world, most of
us are constantly grappling with a makeshift existence, and it makes
sense that we shift our debt from one point to another if in the process
we also happen to save plenty of dollars!
Choose Your Balance Transfer Credit Card
So what are you waiting for then? Do your balance transfer now! Oh sorry,
not right away, because you need to do some research and shopping around
first. Although you may be rest assured that there is, by and large, no
deviousness involved in the offer of zero percent or marginal interest
rate balance transfer, you have to be alert while ordering a balance
transfer to an existing card or while picking up your new balance
transfer credit card from among a plethora of names and choices
To begin with, you may have spent irrationally on your credit card, but
that is not the point; at least now you can make a very rational choice
by carefully assessing and comparing the balance transfer credit cards
available. The keyword is “best,” for nothing less will do!
Basically you have three criteria to take into consideration here,
namely, the annual fee of the card, the transfer fee, and the rate of
interest. The best balance transfer credit cards will as zero all these
with a few additional features and incentives to boot! If you find any
such, make merry! If you don’t, make an apparent compromise and go for
the second best, but still second to none, and therefore still the best!
Transfer your balance, gulp down a cake and take ample rest.