Credit Card News
Advertising Disclosure
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » News » Products » Balance transfers are making a comeback

Balance transfers are making a comeback

By
Add to Favorites:
Balance transfers are making a comeback

Curtis Arnold, a financial analyst and consumer advocate finds this quite surprising. He added that he didn`t expect things to change so quickly, because even last year there were hardly any offers on balance transfers, but now there are offers for 18 months or more than that in some cases.

One of the recent studies surveyed around fifteen balance transfer offers from various credit card issuers in order to get a better picture of the choices you can make in case you wish to shift to a low-APR card. Since card offers keep changing on a frequent basis, it is important to check on the terms and conditions before applying for a specific card. Out of the 15 cards that were surveyed, around 13 cards offered promotional 0 percent APRs on balance transfers. The period ranged from six to 21 months in some cases. Well Fargo offered 6 months, while Citibank offered 21 months.

The 0 percent APRs was offered in 13 credit cards on fresh purchases for that time period. Hence, this is a great option that card holders can use to their advantage as they can spread out their holiday shopping and other expenses without having to pay any interest. Once the promotional period comes to an end, the regular interest rates will come into being and that is something that consumers have to beware of.

All these cards that had been surveyed carried no annual fees. Only IberiaBank Visa Select charged $35. Since the interest rates are raised on the no-annual fee credit cards, card issuers manage to compensate for the same. Although IberiaBank cards carry an annual fee, they offer less-than-average interest rates.

The balance transfers should be done within a specific time period, maybe within a month in some cases in order to be able to qualify for the low APRs. So, read the terms and conditions carefully before you apply for these cards.

Add to Favorites:

Related News:

Citi Card Tracker Unveiled

By Dar Dowling, Posted: December 8, 2016

There is a new feature in town now that Citi credit cardholders in the U.S. can track where their replacement card is every step of the way as it travels to their mailbox. This new feature is available in the Citi Mobile App, whether the ... Continue reading
New Digital Wallet From SDCCU

By Dar Dowling, Posted: December 7, 2016

The San Diego County Credit Union (SDCCU) is rolling out their brand new digital wallet app for iPhone users. With the app people can use their phone to safely do their banking, whether that means using their phones to expedite cash ... Continue reading
Free Pizza on Papa John’s & VISA

By Dar Dowling, Posted: December 6, 2016

Eating pizza while watching a football game is a time-honored American tradition, so it’s not surprising that VISA, has teamed up with Papa John’s to give fans a little more this season. If fans use Visa Checkout they can take advantage of ... Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Get 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the APR will be 12.24%-22.24% based upon your creditworthiness.
For Excellent/Good Credit
Earn 1% cash back on gas and grocery purchases. Terms apply.
For Fair Credit
Guaranteed $500 Unsecured Credit Limit
For Bad Credit