As more Americans have credit card balances that continue to stack up, many are coming up with creative ways to manage their credit card balances. One way of managing high interest credit car balance is by performing a 0% interest balance transfer.
The balance transfer credit card has been around for years but is becoming increasing popular as a debt management tool. Use the no interest balance transfer credit card to transfer all of your high interest credit cards to one low, or no interest credit cards. Take advantage of introductory periods and by cutting your spending and paying down your balances as much as you possibly can.
There are a few things that you may want to keep an eye on when it comes to choosing a balance transfer credit card. The first consideration should be the introductory period. A good intro period is anywhere form 12 months to 18 months. In addition, you should also consider the post introductory rate. Some credit cards charge excessively high interest rates after the intro period. One other thing that you should consider is the balance transfer fees. Avoid cards that charge fees in excess of 4%.
Here are a few balance transfer deals for July 16, 2010:
Enjoy no annual fee and a no intro introductory for 12 months with the Capital one Platinum Prestige credit card. This card offers a 11.90% variable interest rate after the introductory period. With this card, there is also travel accident insurance and 24 hour road side assistance.
The Citi Platinum Select MasterCard is currently offering 18 months of no interest on balance transfers and a variable interest rate as low as 11.99% after the intro period. This card also has no annual fee and comes with Identity theft solutions.
Author: John Zinsky
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