One Piece of Plastic You Cannot Do Without

It is an accepted fact that credit cards are a necessary part of life. Ever since college, it was hard to move around without one in hand. Friends and family live the same way too and there is hardly a single person who has not experienced having a credit card in his or her wallet one time or another. Having and using a credit card is part of contemporary life, something that most people now see as an inalienable accessory to modern living.

In spite of this fact, it is troublesome to deal with the gigantic interest rates that credit card companies jack up out of nowhere. Although loyalty is a good thing, in credit card consumerism the game is totally different. For a credit card holder to survive, he or she must learn how to make use of techniques to help him save up on every hard-earned dollar. One such technique is to use credit card balance transfer to an utmost advantage.

Know your Facts: What is Credit Card Balance Transfer?
Being offered zero interest or low interest rates by companies is every card holder’s dream. Unfortunately, since they have to lure new consumers to use their plastic, companies only offer this to new customers, and not to old ones. This promotional offer could be used to its greatest advantage by consumers if they avail of the one’s out in the market. The trick then, is to scout for companies offering zero or low interest rates, and then signing up for a new card company. Card holders however, must look for the privilege of balance transfer as part of its feature.

A balance transfer allows any card holder to transfer balance or debt left in an old credit card account to a new account for another card company. However, before you grab the car keys and head on to the nearest credit card company, keep in mind that:

•    Conducting research on which companies offer the best package is essential. Do not just jump off the financial cliff with the first offer that comes. A well-informed choice always results in the best decision.
•    Look for three things about the offered package, namely, the normal rate, the teaser rate and the transaction fee. These rates and fees must be low or friendly enough for consumers to hop from one company to another.  Cardinal rule: the lower the rates and fees, the better for the card holder.

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