Selecting the right bank for balance transfer
Advertising Disclosure is an independent, advertising-supported web site. 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. has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » Research » Guides » Balance Transfer Cards » Selecting the right bank for balance transfer

Selecting the right bank for balance transfer

Add to Favorites:
Nowadays, banks provide such amazing features, that it is astounding as to what is now possible with a simple bank account. From transferring funds to other people's accounts from your cellphone, to paying the electricity from another country, there are literally no limits to the things that you can do! One feature that stands out in the crowd in this regard would probably have to be Balance Transfers. Not many people make use of this option, but if you feel that you should have this in your account too, read on to see how to select the right vendor. Rate of interest Most reputed financial institutions that provide Balance Transfers, usually offer it at a certain rate of interest. It is important to ensure that you are able to get this at a fixed rate rather than a variable rate. Since you don't want to be paying a lot of money for no reason, it is important to get something that helps you utilize the feature without the additional amount for fees or other such things. You should thoroughly read the fine print in order to understand more about this. Limitations on transfers The other aspect about balance transfers that you may want to learn more about, would be whether or not you are able to get them as per your requirement. Sometimes, there are certain limitations on these transfers that you need to be aware of in advance. This is so that you are not taken by surprise at a later time when you are actually making use of it. Many customers tend to think that this is not really possible, but the truth is that these limitations are very real and usually hidden deep within the documents that you readily sign to get the feature. Extension of feature This is another tricky area that many people tend to overlook until they really want to use it. Some banks tend to restrict the use of Balance Transfers only to the primary accounts that are opened in the banks. Consequently, if you get an add-on card or open some other mutual account for your children or loved ones, the feature might not get automatically added on to the account. Hence, you might need to check whether the same terms and conditions are applicable to all future credit cards and accounts that are opened under your name or connected to you in some way. Although a truly great feature to have, it is important to ensure you are able to get Balance Transfers to work in the right manner for you. Simply looking at superficial features is not sufficient in helping you get the right kind of bank account suitable for your needs. It is important to also consider getting something that will work well in the future when you are going to require something slightly different. In most cases, you should be able to get all your requirements satiated without issues.

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

Related Research:

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

Amazon Credit Cards Review

By Allison Martin, Posted: May 30, 2016

When was launched 20 years ago, few could have envisioned how far the company would come. What was once an online specialty bookstore is now an Internet juggernaut that sells nearly anything and has made major inroads into ... Continue reading

How Much Do Shell Cards Really Save on Gas?

By Allison Martin, Posted: April 20, 2016

There is an endless amount of gas cards on the market, and practically every major gas station, including Shell, has options to choose from. In fact, Shell offers two options for gas cards for consumers. Continue reading