How to use a zero interest credit card for 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 use a zero interest credit card for balance transfers?

How to use a zero interest credit card for balance transfers?

The content is accurate at the time of publication and is subject to change.
Zero interest rate credit cards are not something that every body believes in. The main reason is, this appears to be too good to be true. The zero interest rate will not be for the life span of the card however, you may make use of this offer before it expires. Using it carefully, can get rid of your debts in not time. It is recommended however, to review and research in details before using. 0 interest credit cards are offered for a short period. This introductory period can range from a year to two years. You need to shop around to get the longest possible zero interest rate periods. This will give you time to come up with the outstanding balance that you owe to the bank. Overspending is done by most credit card holders. There are many things which affect the economy. Prices are rising and people are losing jobs; and others may be receiving pay cuts when they least expect. In such instances, defaulting on credit card loans is way too common. If you find yourself in such a situation where you do not have the means to pay your debt in time, you should look at balance transfer credit cards. By transferring your credit card balance to a zero percent interest rate credit card, you can save on the interest rates that you would pay on the outstanding balance. You will need to pay off the outstanding debt within the introductory period; if not you will end up paying interest again. There are a lot of such cards in the market and it can get pretty difficult finding one that covers your needs. Try getting the one card with the longest introductory period and the lowest transfer fees. The best way to get the best deal is to find a professional online credit card service which can find a card suited for your needs. Try going for a third party website that will have all the offers listed and not just those offers from one single bank or financial institution. You might think that it is possible to continually keep transferring your balance onto a new card without having to pay any interest. But the fact is that though you will not pay any interest, you will end up paying fees every time you make a transfer. And also the balance transfer will slowly start reflecting negatively on your credit history. When you make a balance transfer, try to understand how it will affect you. The amount you pay as fees for the transfer should be less than the amount you pay in interest if you were to retain the outstanding balance on the current credit card.

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:

Autumn 2018: Best Rewards Credit Cards for Thanksgiving Shopping

Autumn 2018: Best Rewards Credit Cards for Thanksgiving Shopping

Posted: November 8, 2018

Thanksgiving is coming, and whether you are hosting a meal or coming as a guest, your spendings are going to accumulate faster than you can notice. A holiday feast is a costly matter – each year Americans spend around $50 on a Thanksgiving ... Continue reading
The Best Credit Card for Earning Cash: Discover it® Cash Back

The Best Credit Card for Earning Cash: Discover it® Cash Back

Posted: November 2, 2018

You’ll have hundreds of dollars in your pocket in no time because you’ll earn money back on every purchase you make with this card. There are no restrictions on the amount of cash back you can get, and Discover even matches every penny you ... Continue reading
Top 5 Cards for Travel from Our Partners: Autumn 2018 – Expert’s Choice

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

Posted: October 10, 2018

Nights are drawing out, the wind is colder every day and you already feel the lightest breath of winter on your face - autumn is here. Holidays are over, kids are back to school and all you are left with are hefty holiday bills that you ... 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!