Best Credit Card Transfer Offers – Choosing the best balance transfer credit card offer can be difficult, but with our detailed content you can make a better decision with the right information.
First you need to know how a balance transfer credit card works. A balance transfer is the ability to move all the debt on an existing credit card and transfer it to a new credit card. The new credit card will give you the ability to take advantage of opening a new credit card that offers special incentives and introductory offers.
Most Popular Intro Rate
The most popular offer is 0% for a certain time limit like 0% for 27 months. This in turn will give you time to shave off unnecessary interest you would have paid if you did not transfer your old credit card balance to the new card.
Now, most bank credit card transfer offers will charge a fee to move your credit card balance transfer. Most banks will charge you a balance transfer fee. They will charge anywhere from 3 percent to 5 percent of the amount of debt you are transferring.
So for instance, if you transfer a credit card balance of $10,000 and the balance transfer fee is 5% you will be charged $500. So the total balance you will transfer is $10,500. That amount will be your new credit card balance.
The moral of the story is always use a balance transfer offer and quickly pay it off so you finish paying before the new transfer loan ends.
Balance transfer offers are best used for short term financing. If you miss the deadline then you will have to begin paying interest on any reward balance of an interest you accept when applying for a balance transfer store credit card offer.
Apply for Balance Transfer Credit Cards