A balance transfer credit card has become a popular instrument today, especially since many people with multiple credit cards want to free themselves from the hassles of dealing with different financial companies.
This type of card allows one to transfer balance from all his other credit cards into just one card. One major purpose of this is to consolidate all past obligations so that the user will only have to deal with one company when settling liabilities.
Another purpose of this monetary tool is to save on interest costs. Usually, issuers of this instrument charge a very minimal interest rate if obligations are paid within a given time frame, normally a year. There are even issuers that charge zero interest on the … (more) September 3, 2009

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When you sign up for a credit card, you are essentially signing on a contract which contains terms and conditions you must adhere to in order to abide by the contract. The consequences for not meeting those obligations can be financially severe. It has never been more important to fully understand how credit works than now because of the high fees and penalties for not paying your bills on time.
Credit is not something to take lightly. If you don’t understand how it works or how you are supposed to manage it, you likely will never be credit worthy. It can be all too easy to lose a good credit standing by making simple mistakes.
Here are just a few terms and … (more) May 11, 2009

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Nearly all US credit card holders have a credit card debt. And sometimes this debt becomes a bad headache for credit consumers. All those interest rates, fees, due dates make it really difficult to pay off your outstanding balance in full. Getting a balance transfer card with favorable terms and 0% intro APR rate is a good way to eliminate your debt faster and easier. That is the most widespread financial experts’ advice when it comes to paying off your credit card debt.
But the thing is that all balance transfer cards with good terms are available for customers with good or excellent credit. And what if your credit rating is not high enough to qualify for a balance transfer card? … (more) June 27, 2008

Posted in Balance Transfer, Debt Consolidation 4 Comments »

In one of my previous articles titled Transforming Extra Calories into Extra Money on Your Credit Card I apparently paid no due attention to a traditional and perhaps the most effective method of clearing your credit card debt – using a balance transfer credit card. Customers who manage their credit with balance transfer services are called rate tarts and their main object is to find a low interest credit card to move the outstanding balance on.
Irrespective of the credit score, a customer is  eligible for a balance transfer plastic, but mind a certain unfailing regularity - the lower your rating, the more expensive the deal will be for you.However, a balance transfer credit card is always a good tool for you … (more) April 22, 2008

Posted in Balance Transfer, Low Interest, Money Saving Tips 1 Comment »

You can find numerous articles and tips on how to eliminate your credit card debt in the Net. About 90% of those guidelines imply using balance transfer. And this really seems to be the best decision for people carrying considerable credit card balances. What can be easier? You just get a balance transfer credit card with 0% introductory APR and forget about money-sucking interest rates and just get rid of your debts.
Actually, it is much more than meets the eye. If only everything was so simple! If every credit card holder could transfer his or her balance every time their promotional period is over, then, probably, no one would have had outstanding debts. So, let’s figure out what can stop … (more) February 12, 2008

Posted in Balance Transfer, Credit Card Advice 3 Comments »

January, time to return to my real life after the winter holidays, go on working and make one more attempt to follow my New year resolution. This year I plan to start jogging, eat more healthy food and reduce my monthly expenses. Even if I forget about my resolution (as I usually do) I will need to save money anyway because I am a bit short of money after all that Christmas shopping.
First of all, I am going to apply for a new credit card with a low introductory rate and transfer my debt on it. This option is called balance transfer and it will help me not to loose money on the annual percentage rate. A balance transfer is … (more) January 11, 2008

Posted in Balance Transfer, Choosing Cards, Credit Card Advice 3 Comments »