Balance Transfers – What Will You Get Out Of It


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. 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. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Balance Transfer Cards » Balance Transfers – What Will You Get Out Of It

Balance Transfers – What Will You Get Out Of It

The content is accurate at the time of publication and is subject to change.
Credit cards can be quite beneficial when used with discretion. Everyone may not be able to decide on what to do with their cards and how best to use it at all times. Sometimes you need to plan things out before deciding on the credit card that works best for you. If you are paying a high interest rate and sweating it out about how you can close off the bills on the credit card, then you can stop worrying as there are solutions. Firstly balance transfer is the most used choice among people and if you know this is what you need then you can spend some time researching and picking out which cards will work best for you. If you do your balance transfer with proper planning it will be the best decision you have made with regard to your finances. Not only does it cut down greatly on the bills but it also helps you to close what you owe on the card sooner than later. There may be certain stipulations about the low interest rates so it is important that you read through all conditions. There are many emails in marketing that comes out form credit card companies where they say you will get low interest rates and fewer burdens to deal with. For the consumer the difference is one vital ting which is the interest rates on it. However you must make sure that you do not end up with too many fees when it comes to the balance transfer. If the minimum amount being transferred is too high then the fees involved in the balance transfer may also be on the higher side. When you go for a balance transfer in many cases, the interest rate that is low may be an introductory one, in which case you need to ascertain for how long the interest rate will remain at a low percentage. There is also the case where after one balance transfer you cannot immediately transfer to another card should you want to, so it is important that you clarify that there are no such binding conditions on your card. When you have transferred the balance to the new card, if your old card has been what you have used for a long time, you may want to keep it open and only use it for basic purchases which you close immediately. In the event of creditors looking at your records they will see that you have handled your finances well and consider you for better cards. When it comes to credit cards, the marketing gimmicks, and sales pitches are one too many. It is best that you think things through and see what user reviews are saying about the card in the market before you do a balance transfer. When you have done the balance transfer, it is imperative that you aim to close the outstanding amount at the earliest when you have 0 interests on the new card. If you wish to save money this is the best time to do it, cut down on spending and close that account.

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.

Related Research:

Top 5 Cards for Travel from Our Partners: Summer 2018 – Expert’s Choice

Top 5 Cards for Travel from Our Partners: Summer 2018 – Expert’s Choice

Posted: February 12, 2018

The sun shines more and more each day, flowers are in bloom and you already feel how hot it is getting - summer is here. Summer holidays are almost here, and you are in need of dire preparation. 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!