How to effectively use balance transfers

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 » Balance Transfer Cards » How to effectively use balance transfers

How to effectively use balance transfers

The content is accurate at the time of publication and is subject to change.

With so many people depending credit cards, it has become inevitable for credit card companies to launch new features that makes credit cards more user friendly. his is something that companies have been striving for, ever since the inception of credit cards. Hence, you too might be interested in knowing more about the different features that are available, among these are, balance transfers. In understanding more about these features, you can be rest assured of being ultra-efficient with your credit cards!

Paying bills on time

One of the most innovative uses of balance transfers is when you have a credit card with a payment coming up very close but you have no money to pay for it at the moment. Hence, if you are expecting some money at a later stage, you can transfer the current credit card amount onto another card and pay it off slowly at a later stage, when you do get the money to pay the bill entirely. This is something that many people resort to doing currently and perhaps one of the things that is actually guaranteed of working pretty effectively.

Get / Provide help

If you want to help someone, you can have them send their balances onto your card. Similarly, if you want help from someone, you can ask for it thanks to the balance transfers feature. Money can be easily exchanged between two parties with minimal effort. You don't even have to go to a bank in order to do this, as many financial institutions now provide for this option on the internet. Therefore, you should consider taking this up, and perhaps even recommend this to others that might find it to be useful.

Shifting balance to an account

It is not just for credit cards, as you can also do balance transfers between credit cards and bank accounts. If you want to make use of this feature with a bank account that you have, it is recommended that you check the option out. In this manner, you can synchronize the bank account and the credit card in a way that will help you make payments on time. Thus, it can be safely said that balance transfer is one of the most useful features of credit cards.

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 Secured Credit Cards: October 2020 – Experts’ Choice

Top 5 Secured Credit Cards: October 2020 – Experts’ Choice

Posted: June 22, 2020

The COVID-19 pandemic has made significant changes not only in people’s lives and their financial standing but also in the entire financial sector of the U.S. We have collected the best secured card offers from our partners so that you can… Continue reading

Top 5 Soft Pull Credit Cards: October 2020 – Experts’ Choice

Top 5 Soft Pull Credit Cards: October 2020 – Experts’ Choice

Posted: June 3, 2020

When applying for a credit card, you definitely don’t want your credit score to go down. Here, you will find the best credit cards with a soft pull from our partners. An application for such cards won’t make changes to your credit history… Continue reading

Top 5 Store Credit Cards: October 2020 – Experts’ Choice

Top 5 Store Credit Cards: October 2020 – Experts’ Choice

Posted: May 30, 2020

We evaluated store credit cards offered by our partners to find the best store credit cards. They are often loaded with perks that will allow you to save on purchases at your favorite retailer. Plus, many store credit cards are available… 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!