Pages

Tuesday, 5 June 2012

Low Interest Credit Cards For Balance Transfers

Low interest credit cards are now being offered everywhere. With the economy trying to get a jump start once again, credit card companies are offering low APR offers as a way to bring in new customers. When getting new low interest credit cards, try to get one that you'll benefit from the most. For many, this choice is with balance transfer.

What is a balance transfer and how does this apply to your new low interest Visa? Cards that offer you transfers are allowing you to bring balances from other companies onto your new low rate card. This type of offer is a great opportunity for a borrower with many high APR cards with high debt and large monthly payments. Instead of making many monthly payments that can quickly add up, you make only one monthly payment. In your search for a low interest Visa or other type of offer with balance transfers, you may find offers for 0% interest.

Obviously, a company that offers to charge you zero interest is not going to make any money, so there must be a catch. There is a catch. First, low interest credit offers that offer a 0% intro APR are usually reserved for those with a very good credit rating. Second, it's important to remember that the introductory period is just that -an introductory period. Unfortunately, too many borrowers get these low rate cards with an intro APR of zero without realizing that it only lasts for a certain period of time. After the intro period is up, many of these low rate credit cards suddenly turn into high APRs, at least a lot higher than they anticipated.

Low interest credit cards with balance transfer usually come with a credit limit. Make sure that you take the balances from your highest rate cards so you'll actually be saving on interest. Even if you're having difficulty making payments on numerous credit cards, don't take balances off one low interest Visa and put it on your new low interest card if the rate is going to be higher, even if it is advertised as a low rate. When used wisely, a low rate card is a great opportunity to lessen your debt and improve your credit rating at the same time.

Yppu can visit www.dealsforcreditcards.com to get more information about balance transfer credit card offers.

No comments:

Post a Comment