ArticlesBase.com - Free Articles Directory
Free Online Articles Directory
10.10.2008 Sign In Register Hello Guest
Email:
Password:
Remember Me 
forgot your password?


Three Tips to Finding the Best Balance Transfer Options

Author: Robert Alan Author Ranking Gold | Posted: 12-10-2006 | Comments: 0 | Views: 538 | Rating:  (109) Article Popularity - Blue (?) Got a Question? Ask.
Sign Up Now!

When it comes to balance transfers, there are many benefits for those that find just the right opportunity and take the best of them. There are plenty of opportunities here, though. The balance transfer is one of the best ways to save money in the long term and the short term. If you invest a bit of time in finding the best opportunity, you will find rewards in the long run. That is because these balance transfer credit cards are designed to save you money if and only if you use them correctly.

How They Work

A balance transfer credit card sounds like a good thing, but do you know how and when to use them? There are several key elements that come into play when you are considering them. So, take a look at these points.

1.Determine if the balance transfer offers a lower APR than you're currently getting. the annual percentage rate on credit cards is the most essential piece of the credit card puzzle. It indicates, as a matter of fact, what you will pay for the credit card purchases you make over time. On the balance transfers you are considering, determine what the rate is. If it is higher than you are currently paying, you are simply wasting your money by moving it. A lower APR is an opportunity to save.

2.Determine introductory APR's. One of the largest incentives is introductory rate on a balance transfer credit card, which is generally either 0% or comparably very low. This number is a crucial number to take into consideration. How long will you have to save? What is the APR after that introductory period is over? If you do not pay off the credit card within that introductory phase, you are likely to pay more than you are now in APR with the new card. If not, then this is an ideal choice.

3.Determine the credit limits. When applying for a credit card of any type, you need to consider if the credit limit meets your needs. If you are considering balance transfer credit cards, if they do not offer you a sufficient credit limit when you need to make the move, then it is worthless to you. But, in most cases, during your application phase the credit card company will ask if you are considering this feature. If so, then tell them how much you are looking to use a balance transfer for. It will not guarantee a higher credit limit, but it can't hurt to request it for that specific purpose.

Taking the time necessary to determine just what it is that you need, what it will cost you and who can offer you the best deal is what you would do for any purchase. Therefore, when considering a balance transfer credit card, your goal is the same. Take the time to analyze your needs. Determine which balance transfer credit cards are capable of providing you with the interest rates and credit and balance transfer limits that you need. Determine what it will cost you in the long term as well in order to determine if it is the best product for you. Then, select the most suitable balance transfers option that fits your needs.

When you follow this plan, you will find benefit and reward in balance transfers. If you do not use it, you may find yourself paying more and saving less than you originally intended.

Rate this Article: Current: 5 / 5 stars - 1 vote(s).

Article Source: http://www.articlesbase.com/credit-articles/three-tips-to-finding-the-best-balance-transfer-options-62426.html

Print this Article Print article   Email to a Friend Send to friend   Publish this Article on your Website Publish this Article   Send Author Feedback Author feedback  
About the Author:

Robert Alan advises that you visit CreditCardAssist.com to find out more about how a balance transfer credit card works.

Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free!

Article Comments

Comment on this article Comment on this article
Your Name
Your Email:
Comment Body
Enter Validation Code: Captcha


Got a Question? Ask.

Ask the community a question about this article:

Frequently Asked Questions

Workout figure and credit reporting
By: cindyinmass | 22-04-2008
What kind of derogatory credit mark occurs if a credit card company offers to let me pay an amount less than actually owed?  Is it a good idea to accept the creditor's offer to make that sort of payoff?

Mortgage and Foreclosure
By: tv_reno | 16-04-2008
My question is about mortgage and foreclosure. Let's say for an example, individual A owns a single family home and he owes $200,000.00. He has first mortgage of $160,000.00 with Bank A and has home quity loan of $40,000.00 with Bank B. His current house value is $170,000.00. My question is, if he decides to foreclose his house how the banks will distribute the money becuase in this example two banks are involved. If he wants to negotiate his interest rate which bank should he start with? Thanks for the response.

I have a court date coming up on a lawsuit, if I ...
By: demanic | 10-04-2008
I have a court date coming up on a lawsuit, if I pay that amount before the court date, does the lawsuit still show up on my credit?

Right Age for First Credit Card
By: DonnaRo | 03-04-2008
What is the earliest age you would recommend your kid to have a credit card? Would you stipulate that she has a steady job or a steady source of income (other than her parent, that is) first? 

What about you don't have the security code
By: ordue | 02-04-2008
what about you don't have the security code

Having problems activating my cibcvisa credit ...
By: Smoken | 01-04-2008
having problems activating my cibcvisa credit card

Q&A Powered by:
Powered by Yedda 

Latest Credit Articles

How To Cope With Credit Card Debts
By: Stephen Chua | 10/10/2008
Credit card debts can be very stressing for many people. However, there are many things you can do to cope with it. This article reveal some of the things you can do now to reduce your debts and stress.

Credit Repair and the Secret to Rebuilding Your Credit
By: Jim Kemish | 10/10/2008
Credit repair can produce life changing results. The process can be quick and satisfying if you know what to do. A credit repair expert reveals powerful credit rebuilding secrets that will help you reach your goals easily.

Tips On Receiving A Bad Credit Loan
By: Kay Brown | 10/10/2008
One of the biggest causes of stress and marital breakup is financial debt that couples incure in effort to acquire the good life.

Is it Possible to Raise My Credit Scores?
By: Chane Steiner | 10/10/2008
The first consideration when you're trying to raise your credit scores is to know where you currently stand. Everyone has scores that range between 300 and 850. This number determines if a creditor will extend credit to you as well as interests rates you might pay, is based on your ability to repay a loan, the interest rate you might be offered, as well as often determining rental or mortgage payments.

Consider Business Credit Card in Your Business Operation
By: optimizer | 09/10/2008
If you’re on your way to start a business or have already established a business, perhaps applying for a business credit card would be your next move. There are many advantages in using a business credit card and being able to build your business credit history is just one of them.

Credit Secrets and Myths
By: Rook Davis | 09/10/2008
Good credit is a great thing to have, but beware of the supposed "shortcuts". Find out what things can get you in hot water.

Verify Your Client Credit Cards With Bin Database
By: Gen Wright | 09/10/2008
BIN Database is a useful service for online merchants, online payment processors and other financial institutions that will help them in verifying their customer's appliations by checking BIN numbers of their credit cards. BIN Database contains the information about the issuing bank, country, and credit card type.

A Quick Word of Advice for Students Looking to Take Out Loans
By: Gen Wright | 09/10/2008
There are many reasons why a student may wish to take up loans. Sometimes, these reasons appear very logical at that time.

More from Robert Alan

Credit Card Transfers: When Should You Use Them?
By: Robert Alan | 11/03/2008 | Credit
Credit card transfers can help you save money. Learn how to use them for your maximum benefit.

Networking Icebreaker - Compare Business Credit Cards
By: Robert Alan | 10/03/2008 | Credit
This article explains how a professional networking event can be made enjoyable when you opt to compare business credit cards with your peers.

2 Types of Air Miles Credit Cards
By: Robert Alan | 10/03/2008 | Credit
This article discusses the difference between air miles credit cards that are sponsored by airlines and those that are sponsored by banks. It provides insight into which is better for certain consumers and why.

0 Interest Credit Cards and the Law
By: Robert Alan | 10/03/2008 | Credit
This article describes how consumers interested in 0 interest cards can make better choices if they know credit card laws.

Frequent Flyer Credit Cards -- Save On More Than Air Travel
By: Robert Alan | 10/03/2008 | Credit
Frequent flyer credit cards are great for many people. Learn how to benefit from these credit card offers.

How to Spend Your Credit Card Cash Back Money
By: Robert Alan | 10/03/2008 | Credit
This article gives consumers some good ideas on how they can spend their credit card cash back money.

Think Short Term with Your 0 APR Credit Card Offer
By: Robert Alan | 09/03/2008 | Credit
This article advises consumers on how to make the most out of a 0 apr credit card offer by thinking about their short-term debt.

Using a Business Credit Card Makes Tax Time Easier
By: Robert Alan | 08/03/2008 | Credit
This article describes how doing your taxes is simplified when you've used a business credit card to make all of your purchases throughout the year.

Article Categories






Give Feedback

Sign up for our email newsletter

Receive updates, enter your email below