Is 0% on balance transfers a good choice? - Balance Transfers Questions


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Credit Card Applications » Questions » User Questions » Balance Transfers » Is 0% on balance transfers a good choice?

Is 0% on balance transfers a good choice?

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In many cases when users apply for a 0 percent APR balance transfers via the internet, a number of companies give the choice of having the balance transferred almost immediately. Users are typically advised not to do so and they must keep the transfer on hold, at least until they get their credit card. This is just one of the things that need to be kept in mind when opting for balance transfers of this kind. Read on to know if a 0 percent APR balance transfers are a good choice or not.

The main intention behind waiting for the card to arrive before going in for a balance transfer is to stay safe. On a number of occasions, companies simply promote a 0 percent APR on balance transfers lasting up to a period of a year. In reality they don’t do so and maintain the 0 percent rate for just 6 months. Waiting for the card to arrive ensures that users can make the most of the deal they are in actuality wanting to avail.

Individuals, who are confident about repaying the balance on their credit card even before the 0 percent APR balance transfer duration has elapsed, can choose just about any company. It is for users who think they wouldn’t be comfortable paying off the credit amount in the stimulated period that the 0 percent balance transfers from a reputed company are advisable. Choosing the right company for conducting the balance transfer can go a long way in correcting faulty credit. So individuals must ensure that they do not fall into the trap of simply good deals on the surface.

Next, consumers must also keep their total outstanding balance in mind before choosing a company that will have the credit balance transferred at a 0 percent rate. A large balance often requires more than a single balance transfer credit card. Not all financial institutions are large-hearted about offering huge credit limits, hence users must choose wisely. If individuals feel they need two cards, they can apply for the cards simultaneously. Allowing people to have enough time at hand so that the interest rates and terms of the cards on offer are gauged correctly, this option also simplifies the process of transferring balance.

A wide number of credit card companies provide a 0 percent APR balance transfers at long term interest rates, which last even after the stipulated introductory period is over.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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Intro APR on Balance Transfer: 0% (18 months)

Ongoing APR on Balance Transfer: See terms

Excellent, Good Credit

Intro APR on Balance Transfer: 0%* (21 months on Balance Transfers*)

Ongoing APR on Balance Transfer: 14.49% - 24.49%* (Variable)

Excellent, Good Credit

Intro APR on Balance Transfer: 0%* (18 months on Balance Transfers*)

Ongoing APR on Balance Transfer: 14.99% - 24.99%* (Variable)

Excellent, Good Credit

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