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BALANCE TRANSFERS |
Balance transfer is a service that enables the cardholder to pay off his debt on more advantageous terms - that is on lower interest rate and probably without any fees in comparison with his current terms. Banks that want to attract new customers, offer low APR, exclude balance transfer fees and can also provide some kinds of rewards. Thus, the bank acquires a new customer and the customer pays less for his credit.
Balance transfer cards can be found in the array of credit card offers by most banks: American Express, Discover, Citibank etc. It enables you to choose either to stay with your current bank or become the customer of another credit card company.
There are some factors to pay your attention to when applying for a balance transfer card. First, you should be sure your payment history is good enough; second, the APR and the fees of your future card are supposed to make the deal advantageous; third, the balance you are going to transfer must not exceed the credit limit of the future card.
Balance Transfer Credit Cards |
As you apply for credit card for balance transfers, it's important to use it correctly. Mind the APRs of your new card. As your debt is moved on to the new account, you start paying it off under the new terms. Besides, if you make more spendings with this card, you can easily go over the credit limit which entails high fees and interest increase. As you move the balance from the old card, be sure that you start using the credit limit of the new card, so going over the limit can easily be caused by any careless spendings. But if you are a wise cardholder, you will surely make use of all the benefits and advantages balance transfer credit cards provide.
0% APR Balance Transfer Credit Cards |
One of the major benefits that balance transfer plastics provide is 0% APR on balance transfers. This APR is valid within an intro period determined by the terms and conditions. Intro period is usually 6 - 12 months long and it is necessary to plan your payments so that you can clear your debt before this period expires.
A credit card with 0% APR on balance transfers can also have low interest on the purchases which often is a temptation for more spendings with the card. Cards with balance transfer enable you to make a deferred payment of your debt and save your money. After you pay off the debt, you can use such card as a plastic for purchases. It is also worth mentioning that you have an opportunity to remove the debt from several cards, usually up to 4 cards, onto one balance transfer card, if the amount transferred does not exceed its limit. For more details see our charts of balance transfer credit card applications.
Credit Availability
[11:25:39 AM Sunday, June 21, 2009]
Gone are the days when credit was granted to nearly everyone with a name and SSN. In today’s economic climate, credit card companies are becoming more conservative about the choice of their potential customers. Lenders apply tighter restrictions on credit availability making it more difficult for new customers to be approved for a card.
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Credit Debt during Recession
[02:59:54 AM Monday, June 15, 2009]
It has never been easy to overcome a massive credit debt. During harsh economic times, it can be a real challenge to pay off your credit card debt. But it doesn't mean that you cannot manage and pay down your debts. Read our helpful tips on how to manage and pay off your credit card debt with a step-by-step debt management plan.
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Credit Card Annual Fees
[02:08:28 AM Monday, June 08, 2009]
According to the market research conducted by the mail-tracking company Synovate, these days households are receiving far fewer mailed credit card offers from the companies, while the number of credit offers carrying annual fees is growing steadily. Read more about this trend in the credit card industry.
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read about credit cards
Credit Card eZine |
Credit Advice for Students
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Author: Greg Mischio |
Post date: June 18, 2009 |
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For the past few years, college campuses have been a very promising market for banks and credit companies. There has been a lot of talk about the pros and cons of student credit card applications. While some people believe that student credit deals are nothing but a dangerous financial weapon, the others consider credit cards for students as the integral part of financial freedom. Anyway, credit deals for students were readily available in the recent years, but things have changed greatly. And now in tough economic times, youth folks may find it more difficult to get access to credit. So, the question becomes: how to apply for a student credit card in difficult economic times?
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Immediate Credit Card Care Service |
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If you have a question about any product or product feature, or if you need free advice from a credit expert, use our Immediate Credit Card Care Service. Ask a question, or look through previously answered questions. Either way, we are happy to help you learn about the important facts concerning credit cards.
The latest question of Immediate Credit Card Care Service
I have NO credit, but I want to build credit. I am just about to graduate college with two degrees and I need to build credit.
Answer:
If you have no credit and want to build your credit history, then secured credit card offers can be an ideal option for you. Intended specifically for people with bad or no credit, a secured card will report your credit payments to the major credit bureaus monthly. This will serve your purpose greatly if you make your payments on time and keep well within your spending limit. Another impressive feature of the secured credit cards is that they don’t check your credit records. This means, that even if you can’t qualify for unsecured credit cards, you may get a guaranteed approval when applying for a secured card offer. You’ll just need to make at least a minimum money collateral deposit ($200-$300) into a bank savings account in order to be approved. Your deposit will be equal to your credit line and will be charged by your lender only if you fail to pay off your debt. Take your time to review and compare the secured card offers featured here and select the most suitable one for your needs.
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No Fee On Balance Transfers |
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Balance transfer fee is a flat (one-time) fee you can be required to pay for moving your balance on to the new card. It can equal to a certain percentage (say, 5%) of the balance transferred amount or it can be a fixed sum of money (for example, $25). One more significant feature of the cards for balance transfers is no balance transfer fee, so you can relocate you debt onto the new account free of charge. A combination of no balance transfer fee and 0% APR on balance transfers makes a very attractive credit card to pay off your debt under more preferable conditions. Many of balance transfer cards presented at our site have no balance transfer fee. |
Low Rate Balance Transfers |
Since a balance transfer card is designed to let you pay off your debt spending less on interest and fees plus banks attract new customers with this type of cards, such type of plastics can provide just low rate on balance transfers which in some cases exclude intro period. Thus you are not concerned about clearing you debt by the certain date, paying a constant low APR.
Whichever balance transfer credit card you choose, you can count on the low or 0% APR on balance transfers, with or without intro period, sometimes without a balance transfer fee plus a number of rewards that good credit cards often have. |
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