Balance transfer credit card can be a great tool when it comes to reducing your credit card balances. These cards can be an incredibly effective tool when used in conjunction with careful and thoughtful spending. In other words, the only way to get out of debt is to stop spending money. This can be a difficult habit for many people who are accustom to living beyond their means.
If you are interested in using a balance transfer credit card as a tool to reduce you credit card debt, you will not be the first person to try this and succeed. Using a balance transfer credit card can be a great way to get your credit card balances in check and under control. The process begins by finding a balance transfer credit card with no interest during an introductory period. This card has to meet you individual needs and requires a little bit of searching on your part.
A balance transfer credit card should have an intro period for at least one year and a reasonable balance transfer fee. A reasonable balance transfer fee should be around 3% or so. If the fee exceeds five percent, you should proceed with caution. These cards are often not worth the trouble. Here are a few balance transfer deals that we found for August 9, 2010:
The capital one Platinum credit card is a great choice with a 0% into period of 12 months and a reasonable 14.9% interest rate after the introductory period. This card comes standard with no annual fee and extra features such as travel accident insurance.
If you need more time, try the Discover more card. This card is currently giving an incredible 15 full months of no interest in addition to a post introductory rate as low as 11.99%
Author: John Zinsky
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