Large credit card balances are a huge issue in America. Millions of Americans are spending more than they earn every year. This excessive spending creates an issue and has placed millions of Americans is a bad financial situation.
Luckily, there are tools that you can use to help manage your credit card debt. One example is the balance transfer credit card. This card allows card holders to consolidate all of their credit card balances to one card that is interest free. What makes this card so powerful? Being able to make large payments towards one interest free credit card can really help you lower you overall debt.
Selecting a balance transfer credit card involves a little research. Be sure to read up on each credit card offer and choose the one that works well for you. Finding the correct combination of terms may be a bit challenging, especially if your credit is less than perfect. A great balance transfer credit card offers no interest for at least 12 months. In addition, you should also be interested in the interest rate after the introductory period. While many people intend to pay off a card during the introductory period, this is not always the case. The last thing that you want is to be stuck with a high balance and high interest rate. Another thing to be aware of is the balance transfer rates. These rates can exceed 5% and can really defeat the purpose of owning a no interest balance transfer credit card.
Healthy Financial Habits keeps you up to date with the latest in balance transfer credit card deals. Here’s today’s balance transfer credit card deal of the day:
Citi is currently offering the Diamond Preferred Rewards card with no annual fee and 12 months no interest on balances. This card has a post introductory rate as low as 12.99% In addition, you can enjoy a $50 gift card when you meet certain guideline.
Author: John Zinsky
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