Balance transfer credit cards can be a great way to get you finances in order and lower you overall credit card balances. When it comes eliminating credit card debt, there is truly no easy way to do this. It’s important to remember that you must first stop spending in order to get out of debt.
Obtaining a balance transfer credit card is a simple tool that you can use to help manage your debt, especially if you have multiple high interest credit cards. A balance transfer credit card can help to consolidate your debt and get you back on the track to financial freedom. Deciding to change your spending habits is the difficult part, choosing a balance transfer credit card is actually the easy part.
What do you look for in a balance transfer credit card? First thing to look at is the duration of the introductory period. Cards that offer no interest for at least one year are usually worth looking at. In addition, you should also take a look at the interest rate after the intro period. Some credit cards charge extremely high rates after the 0% is up. One other thing that you should consider is the balance transfer fees. High balance transfer fees can certainly be a deal breaker. Avoid fees that exceed 4%.
Here’s out top pick for balance transfer credit cards for August 20th 2010:
Grab the Discover More card and get more out of your balance transfer credit card. Get more cash back, more months of 0% and a low interest rate as low as 11.99%. In addition, this card has no annual fee.
Author: John Zinsky
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