Are balance transfers as important as people consider them to be?
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 » Research » Guides » Balance Transfer Cards » Are balance transfers as important as people consider them to be?

Are balance transfers as important as people consider them to be?

By
Add to Favorites:

With so many credit card companies advertising balance transfers, you might think that this is an important thing to have, and something that you should look for in your new credit cards. While the importance is debatable, its presence cannot be missed either. There are a couple of important aspects to this feature that does make it a useful thing to have. If you haven`t considered it as of yet, you might want to read this article and understand ways this feature might be useful.

Firstly, you should know that balance transfers are normally for people that have a balance in one account and want to transfer it to another account. However, if you pay your bills on time and don`t have any problems managing your finances, then this option is for you. On the other hand, for those that juggle around a lot of cards and accounts, this is by far an extremely necessary feature to have.

It might also be of importance to note that balance transfers are with conditions. In most cases, applying this feature between two different financial institutions will normally incur a charge. It is advisable to check the rates and the charges before you begin to use. sIts imperative not to end up paying more money nor having a balance. Most financial institutions are okay with you transferring money within, which makes this quite a useful feature for those with multiple accounts in the same bank.

Finally, you should also be aware that having balance transfers does help in maintaining your credit score. Not only can you avoid late payment charges, but you can also avoid making payments altogether for as long as you wish. For people going through a bad phase right now, having such features can definitely help, while they are looking out for a new job.

Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

Credit Card Tips For Holiday Shopping 2016

By Herbert Moore, Posted: November 23, 2016

November and December are the busiest months as gift shopping reaches its peak. People rush around looking for the best gifts and the best deals leaving a lot of money in the shops. Holiday season may force you to go over the household ... Continue reading

Credit Cards to Save More on Holiday Shopping

By Herbert Moore, Posted: November 22, 2016

Discounts and special offers are available all year round. Werther you are a bargain hunter or an impulse buyer, make sure you check online discounts and special offers. Also, if you are a cardholder, see if your credit card opens the door ... Continue reading

How to Get Free Wi-Fi in the Air

By Herbert Moore, Posted: September 28, 2016

Sometimes in-flight Wi-Fi is the bare necessity when you travel abroad or within the country. However not all airlines offer free in-flight Wi-Fi. There is only a couple of airlines that will allow you to use Wi-Fi ... Continue reading