One good feature of many credit cards these days is the so-called balance transfer option. This feature allows transferring of an existing balance from one credit card to another. This service has become quite invaluable for many people, particularly for those who have two cards, one carrying high interest rates while the other one having lower interest rates.

Making use of the balance transfer feature should be done with extreme caution though. This is because this particular service has one or two sub-features that may not always work in your favor. For example, there is this so-called allowable transfer amount which is the amount of balance that your card company allows you to transfer to other cards.

Many cardholders have found this setup highly disappointing. This is quite understandable, especially if your plan involves transferring any remaining balance to your other cards, particularly those which offer lower interest rates.

Getting disappointed is but natural, and one virtue that should be observed here is patience, especially in your transactions. Add an effective strategy in your plans. With these two qualities, transferring all your existing balances to your other cards can still push through.

Another sub-feature found in many balance transfer services is the charges. When transferring card balances, fees are often involved. These fees can come in two different types. One involves a small amount of charge fee with the allowed transfer of balance equally small. The second type will allow transferring huge amounts of balances, but will likewise charge a huge amount of fee.

Given these often unfavorable conditions, you should seriously study whether or not transferring balances to other cards should be pursued in the first place. Transferring balances may appear wise initially for most people, especially for those who have credit card loans that they simply are unable to pay immediately. However, if this will involve getting charged with more unnecessary fees, then it may be better to simply look for other alternatives.

You should also keep in mind that the concept of transferring balances to other cards can only be availed of if you have good credit standing. Credit standing is basic in many credit card applications. It contains critical information about your finances through which you can get your card approved or disapproved.

If card companies find that you have good credit standing, having that needed balance transfer feature available in your credit card is highly possible. In short, this feature is extended as a form of reward for people who have kept their credit in good standing.

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