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Balance Transfer
- DontSpendMore.com
Click here to
compare credit card and balance transfer offers and rates. Instant
decision!
"0 APR Balance Transfer Rate" -- an easy way to save money
every month. Isn't that the message you get from almost every credit
card advertisement? Yes, it may be possible to get a 0 APR balance
transfer rate, but before you make a
decision, read the fine print (disclosures on balance transfer
applications). A few caveats must be followed before you transfer
balances from a high interest credit card to a "supposedly" better
offer. Read on.
0 APR Balance transfer -- length of intro APR. Credit card companies advertise very attractive balance transfer rates, some as low as 0% apr on balance transfer. While the introductory balance transfer rate may sound tempting, check into how long the balance transfer offer will last. Does the length of the promotion meet your needs?
What does the 0 APR balance transfer
offer later switch to? Wouldn't it be
wonderful if the intro balance transfer rate stayed the same forever.
Well, welcome to the real world. It won't. So, what would the
"attractive" rate change to once the advertised length of time expires?
Click here to
compare credit card and balance transfer offers and rates. Instant
decision!
Is it really an offer?
Would the new rate really save you money? If not, what is the point in
transferring your balance. Are the balance transfer rates applied
uniformly? Or, does it depend on your level of credit?
How is the balance transfer rate applied? Does the balance transfer rate apply to transferred balances or new purchases? Or both?
What's the catch? Would there be an annual fee after the balance transfer? What other fees apply once the balance transfer has been completed? Does it cost money? Is this a free balance transfer? Would it cost money to actually transfer balances?
Being an informed customer is in your best interest. Legitimate offers do exist but never skip reading the disclosure before you transfer balance. Remember, prevention is much better than cure.
Click here to
compare credit card and balance transfer offers and rates. Instant
decision!
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