Ads
Guide to Balance Transfers
When high credit card fees prove exhausting, one may want to consider the option of lowering interest charges by transferring the balance to another card. Balance transfer is both smart and easy as an option for reducing credit card costs. Ensure that you fully understand the terms and conditions of the new card to maximize savings.
Balance transfers can have numerous advantages. One can drastically reduce interest rate and fees. Credit card companies charge different interest rates for balance transfers with the most common one being 0 percent for six months through 12 months. Some cards may link the introductory APR or annual percentage rate to billing cycles.
There can be other benefits also like the ability to get a new card without any annual fee, a longer payment grace period and cash back on purchases. Sometimes car rental insurance, identity theft protection and money saving discounts are also offered.
Balance transfer can be done by filling out the paperwork issued by a new card. You can also contact the credit card company that you wish to transfer your balance. Another way of doing it is through balance transfer or convenience checks. These can be sent to the company from which your want to transfer the balance. Credit card info.com reports:
Are you tired of fighting high credit card fees? Why not lower your interest payments by transferring your balance to another card. Balance transfers are one the smartest and easiest ways to reduce credit card costs. Just be sure you understand the terms and conditions of the new card, so you can maximize your savings.
--
Did you enjoy this post?
Comments
Post a comment
« Automatic Bill Payment from American Express | Main | Hazards of choosing balance transfer »
Syndicate
Comments