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In theory, you have the power to go for credit card balance transfers for as many years as you like. It is however, a temporary solution and must be chosen only by those who know they would be able to make their payments on time, and also possess a good credit rating. Getting a transfer balance spree from one card to another could be harmful. This eventually means that you are moving the same balance every time and not paying it up in completion. A few things that you must consider with credit card balance transfers are mentioned as follows.

You must be wary of your new card spending right from the word go. It is not advisable to spend on the new card, as any new amount incurred on that account wouldn't have the advantages of the initial offer. It will be among the last payments you have to make. In a similar fashion, you should not spend on your old card. When you do so, you have the risk of piling up the same amount of debts. Typically, you must close the old account after you have transferred the balance.

Generally, companies offering balance transfers tempt individuals with low levels of interest in the introductory period. It important to be fully aware of when your introductory period ends and when the new rate becomes applicable. A mouthful of credit card companies does not apply interests for a term of one year. Nevertheless, they try to compensate for this, by charging users a huge amount of transfer fee. So you must look for providers who offer affordable rates.

Scanning through the market carefully will help you to lay hands on the best offers when transferring your credit card balance. While a few credit card companies do not charge any transfer fees, some others may have the user spend up to 3 percent. Irrespective of what the transfer fee is, and how the interest has been applied, it is important to remember that you would still have to make payments on a monthly basis depending on the terms and conditions you signed up for.

Become debt free at the earliest should be your ultimate motive. Hence you must ensure that you are making sincere efforts to pay off as much of the credit as you can. Paying just the minimum monthly amount isn't a good idea at all as that way you would take much longer to have your debts cleared off. You will also have the introductory period run out, which will then bring into the picture, a higher interest rate.