Manage credit card debts intelligently with balance transfers


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 » Manage credit card debts intelligently with balance transfers

Manage credit card debts intelligently with balance transfers

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

A balance transfer is the overall transfer of debt from one account to another. There are a number of reasons why one may choose balance transfers right from checking accounts, trading accounts to credit card transfers. It is commonly seen that companies who intend obtaining new customers for credit card accounts help them conduct balance transfers. An increased credit card debt is an important contributing factor for consumers to get their balance transferred from one account to another.

Applying for a balance transfer is no big deal with credit card holders simply requiring no more than a social security number and a mailbox. As long as consumers choose a credit card with a new company, institutions are quite content in offering balance transfers. A grace period is provided to the consumer upon balance transfer to a new account so that they can repay their debts in a more simplified manner. During this period, the bank or institution may charge individuals' reduced rates on the balance transferred.

In many cases, with balance transfers companies could label interest rates as low as two, one or even zero on the amount that has been transferred. The option of shifting funds is a good choice for users having a surged credit card amount. The method of allowing users to repay their balance without any hassles, keeps the troubles of increased interest rates away. This method is also a good one to handle inappropriately managed funds.

Before choosing a new company for balance transfers with increased credit card amounts, users must notify the cost of transaction. The amount shouldn't be too high and must be typically divvied up between the consumer and the company. A simple transfer of the funds should empower users to restart their handling of credits in a better manner and get right back on track. Consumers must opt for a shift in their funds even when their previous account has expired or is about to do so. They should also read carefully the fine prints that may feature costs that are hidden. The earlier account from where the amount has been transferred must be further shut down so that there is no incorrect usage of the increased credit amount.

If consumers stay upfront about the balance transfer of their credit amount, they can actually see the method working in their favor. This is especially beneficial in the event of largely increased credit amounts.

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!