When does the concept of balance transfers into play?

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 » When does the concept of balance transfers into play?

When does the concept of balance transfers into play?

The content is accurate at the time of publication and is subject to change.
Bank accounts these days are significantly different than what they used to be. In many situations, you might stumble upon a feature that was previously unheard of. If you are intelligent about this, you would probably want to research more into this feature and discover the different ways that you can make use of it. One such feature that has been introduced quite recently is the feature of balance transfers. Taking all things into consideration, this is something that you would ideally want to keep in mind and perhaps know more about, considering that it is a really nifty feature to have. Helping out someone One of the top applications of balance transfers would probably be to help a friend or a close relative. Money is something that is a source of problem for many. Hence, if you can help someone out, you should seriously consider and look into how it might be possible to help the other person out. Consequently, the best solution in this regard would probably be to offer financial assistance using this feature. Not only can you quickly transfer money to someone else, but you can also ensure that youa re able to get it back relatively easily. Keeping track of your expenses One of the other areas where balance transfers truly shines would be in keeping track of all of your expenses. Thanks to the easy navigation features that are a part of the bank account, it is now possible to ensure that you can easily manage expenses without really spending a lot of money in the process. You can avoid fines and other late payment charges by knowing where to transfer the money and essentially knowing about bills and paying them through different bank accounts well before the due date. Maintaining minimum balances Many bank accounts these days have rules about minimum balances to be maintained in the bank accounts. Without the use of balance transfers, it can be quite challenging to maintain a minimum balance. Hence, it is necessary to know how it might be possible to maintain the minimum balance without breaking your head about it. If you have multiple bank accounts, there should be a way to shuttle money around the accounts so that you are able to maintain the bank accounts with ease and not be worried about how you will go about with keeping money in your bank account. Remember that balance transfers are almost a necessary feature to have in your bank account today. Hence, if you are not familiar with it, it is strongly recommended to educate yourself about this topic. Once you have all the information with you, it is possible to better manage your finances. Remember that there are situations when this might actually be something that you can make use of to avoid penalty charges. Considering how difficult it can be to rectify these records, it is advisable that you put measures in place right away before it can actually become some kind of an issue.

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!