Rewards offered by balance transfer credit cards

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most 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 » Travel with Credit Cards » Rewards offered by balance transfer credit cards

Rewards offered by balance transfer credit cards


Updated: December 26, 2012

Balance transfer credit cards offer some excellent rewards. However, one must be careful about the terms, conditions and fine print of a credit card, to make sure that the rewards are actually what they seem to be. Balance transfer is a great option for those who are looking to change the credit card because of higher interest rates or less favorable terms on their existing credit cards. Here are some of the rewards offered by the balance transfer credit cards in the market. Introductory offer Almost all balance transfer credit cards come with an introductory offer which includes 0% or low APR for the introductory period. There are several variables in this condition and that is where one should do some prior research. Firstly, the 0% introductory rate could be offered only for the balance transfer amount or for the balance transfer as well as the purchases. Secondly, the introductory period could vary anywhere between 6 months to up to 15 months depending upon the credit history of the individual. Lastly, the final APR could be as low as 11% to as high as 20%. The introductory 0% rate is a great opportunity for those with outstanding debts to clear it off and make a saving of $150 - $200. Special discounts Some balance transfer credit cards offer up to 20% cash back bonus whenever you shop online. Moreover, you could get special discounts for purchases at specific retail chains thus saving you a lot of money during the shopping season. Cash back Good balance transfer credit cards offer you up to 5% cash back bonus for your purchases at grocery stores, travel, gas, restaurants, home improvement stores and drug stores. These could add up to give you a lot of saving every month. While some cards offer unlimited cash back, others have caps over the amount of cash back you can enjoy. This is also a part of the fine print that card holders should inspect before applying for such cards. Waivers Balance transfer credit cards also offer different types of waivers. Some cards waive off annual fee, late and over the limit fees, while other cards don’t impose any spend-minimum limits or issuance fee. Some cards even waive off currency exchange and cash advance fee for customers who have an excellent credit history. This will benefit those who travel a lot. The balance transfer fee might also be reduced in some cases, although it is more an exception rather than a norm. Milestone bonuses and rebates A lot of balance transfer credit cards offer this during the shopping season. Those who go for these reward and balance transfer credit cards will receive $100 cash back if they manage to spend more than $500 - $700, as stipulated in the first 3 months of enrolling for the card. If you are sure about your shopping spree, this reward will let you earn a $100 discount on whatever you spend, which is quite a substantial saving for a 3 month timeframe.

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

Other Travel with Credit Cards Research:

Related Research:

Top 5 Cards for Travel from Our Partners: Spring 2018 – Expert Choice

Top 5 Cards for Travel from Our Partners: Spring 2018 – Expert Choice

Posted: February 12, 2018

Days are getting longer, snow is melting and you already feel the lightest breath of warm breeze on your face - spring is here. Summer holidays are looming, and so is Easter with its shopping. You can lift in spirits and let CreditLand ... Continue reading
Cash Back or Travel Rewards? Here’s How to Decide On The Right Card

Cash Back or Travel Rewards? Here’s How to Decide On The Right Card

Posted: February 10, 2018

If you're trying to find the perfect rewards credit card, you might feel like you're drowning in options. There are just so many out there, and many of them look similar. This can make it tough to decide on a card. One thing people often ... Continue reading
Price Protection: Credit Cards That Will Refund a Price Drop

Price Protection: Credit Cards That Will Refund a Price Drop

Posted: February 8, 2018

Those who often find themselves buying stuff and then discovering that they could pay less for the same item they've just bought, will appreciate this credit card benefit – price protection. This is the least known and the most neglected ... Continue reading
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!