Putting balance transfers to use effectively


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 » Putting balance transfers to use effectively

Putting balance transfers to use effectively

The content is accurate at the time of publication and is subject to change.
When you are provided with the feature of balance transfers, it is quite likely that you might wonder as to how you can use this feature effectively in managing your finances. Many people today fail to properly comprehend the usefulness of this feature. As a result of this, they end up making thing more complicated, or even harder. You should avoid this, and with a little understanding of balance transfers, you might perhaps be able to understand precisely how you can use your account in a more efficient manner. Funds for payments One of the best uses of balance transfers would be in making payments on time. It is quite possible that you might end up running out of money in one account, but require the account for auto payment needs. Hence, in this situation, it might make sense if you have balance transfers, which can almost instantaneously ensure that you have money transferred from another account and ensure that you have the required amount of money in your auto payment account. This could help avoid an unnecessary trip to the bank, which might result if you require shifting around your balances. Transfer to someone in need If you have to give money to someone or perhaps help a close friend or a relative, you could still make use of balance transfers as well. This is something that people sometimes don`t realize right away, since it is not really marketed. Again, this is a feature that you might not always have with your credit card, but you might want to check with your card provider just to be sure. Manage your credit cards Finally, the main use of balance transfer should not be ignored, which would be managing your credit cards. Many people have credit cards that don`t necessarily allow them to make flexible payments. Hence, in such cases, it might seem sensible to transfer the balance onto another credit card and then make a payment on this particular card. In this manner, you can be sure that you make the payments on time and don`t end up getting penalized for a missed payment. If you were to manage the card payment in this manner, it can be very effective in helping your credit score in a positive way. Thus, there are a lot of different uses for balance transfers. Depending on what it is that you anticipate getting out of your credit card, you might be able to find it with these balance transfers. Most people don`t realize this right away, which is why they end up going through the harder route to make the payments. By being smart and putting this feature to use, you can avoid all of these problems and pretty much make your payments on time as well as enjoy a credit card with more features to offer.

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!