When does the concept of balance transfers into play?
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 » When does the concept of balance transfers into play?

When does the concept of balance transfers into play?

By
Add to Favorites:
Bank accounts these days are significantly different than what they used to be. In many situations, you might stumble upon a feature that was previously unheard of. If you are intelligent about this, you would probably want to research more into this feature and discover the different ways that you can make use of it. One such feature that has been introduced quite recently is the feature of balance transfers. Taking all things into consideration, this is something that you would ideally want to keep in mind and perhaps know more about, considering that it is a really nifty feature to have. Helping out someone One of the top applications of balance transfers would probably be to help a friend or a close relative. Money is something that is a source of problem for many. Hence, if you can help someone out, you should seriously consider and look into how it might be possible to help the other person out. Consequently, the best solution in this regard would probably be to offer financial assistance using this feature. Not only can you quickly transfer money to someone else, but you can also ensure that youa re able to get it back relatively easily. Keeping track of your expenses One of the other areas where balance transfers truly shines would be in keeping track of all of your expenses. Thanks to the easy navigation features that are a part of the bank account, it is now possible to ensure that you can easily manage expenses without really spending a lot of money in the process. You can avoid fines and other late payment charges by knowing where to transfer the money and essentially knowing about bills and paying them through different bank accounts well before the due date. Maintaining minimum balances Many bank accounts these days have rules about minimum balances to be maintained in the bank accounts. Without the use of balance transfers, it can be quite challenging to maintain a minimum balance. Hence, it is necessary to know how it might be possible to maintain the minimum balance without breaking your head about it. If you have multiple bank accounts, there should be a way to shuttle money around the accounts so that you are able to maintain the bank accounts with ease and not be worried about how you will go about with keeping money in your bank account. Remember that balance transfers are almost a necessary feature to have in your bank account today. Hence, if you are not familiar with it, it is strongly recommended to educate yourself about this topic. Once you have all the information with you, it is possible to better manage your finances. Remember that there are situations when this might actually be something that you can make use of to avoid penalty charges. Considering how difficult it can be to rectify these records, it is advisable that you put measures in place right away before it can actually become some kind of an issue.

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

Related Research:

5 Reasons to Get the Capital One Venture Miles Rewards Card

By Herbert Moore, Posted: January 18, 2017

If you’re looking for a great travel rewards credit card—one that offers unlimited earning opportunities, flexible redemption, and lots of perks—look no further. This card from Capital One has you covered. Continue reading

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