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Best Balance Transfer Credit Cards - Helping You Avoid Paying Interest
While considering balance transfer credit cards you must consider and understand that the expiration dates on balances that are transferred. You must also understand the APR and what fees you will pay after the introductory trial has ended. Ask the card lenders if the introductory rates will apply to the first transfer, or if the rates will only apply to balance transfers made throughout the introductory trial. You might also ask if the introductory rates are applied to balance transfers as well as purchases. It is also important that you understand the annual fee structure. Likewise, it is essential to know whether an annual fee will apply to the introductory period. Ask if the cards have any applicable fees on transactions. Transfer Fees Asking questions upfront will help you to avoid pricey fees on balance transfers. Most balance transfer fees are around 3 percent; however, some lenders will charge 4 percent. Due to competition, credit card lenders' are working effortlessly to bring in new clients. Therefore, teaser ads are put up on the Internet to bring in new clientele. While the slicks claim that if you have good enough credit, you can take advantage of the low interest rates and 0 percent introductory rates, not everyone has the applicable credit that lenders will require. Cash Back Rewards A few of the cards, including the Chase Cash Plus Rewards Visa offer 5 percent cash back on any purchases made at grocery stores, drugstores, or gas stations for a limited time. Often the card lenders have stipulations though, i.e. only purchases at selected stores are applicable, which means if you do not shop at the store (s) stipulated in the agreement, you will not receive rewards. This card also offers an additional 1 percent cash back on all other purchases made. There are no annual fees, and there is a 0 percent introductory APR for up to 12 months on balance transfers and purchases. Some of the balance transfer credit cards offered online include the Citi® Platinum Select. Some of these cards offer a 0% APR for up to one year on both purchases and balance transfers. However, the offers will expire; therefore taking advantage of the offers now can save you money. Many of the cards will extend an comparably low ongoing APR once the introductory trial has ended too. A few of the cards will offer advantages that the other card offers may not, like a free onlin, secured account management reports. So be on the lookout for these special features. Features and Offers If you're looking for security in balance transfer credit cards, consider the Blue card from American Express. With this card you get a 0 percent introductory APR up to 15 months and low rates thereafter. Still, the offers won't last long, thus taking advantage of the deals when spotted is in your best interest. There are no annual fees and it has a Smart Chip built-in, which provides security while shopping online, or viewing your online reports. Smart Chip is becoming one of the largest schemes for security, which is currently available throughout in the United Kingdom and will soon be available in the US. This card offers a free rewards program, but you must have excellent credit to get approved for the card.
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Article Tags: Balance Transfers, Balance Transfer Credit Cards Article Source: http://www.articlesbase.com/finance-articles/best-balance-transfer-credit-cards-helping-you-avoid-paying-interest-21970.html About the Author:
For more information on finding the best balance transfer credit cards to help you avoid paying interest charges, Bert Wills recommends that you visit CreditCardAssist.com.
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