If you carry balances on your credit cards, then you may want to strongly consider signing up for offers that are advertised through 0 balance transfer cards.
Typically, a zero percent interest rate offer can save you hundreds, if not thousands of dollars over the duration of a zero balance transfer offer.
It is important to keep in mind that not all offers from 0 balance transfer cards are created equally.
It is important to evaluate each card individually and make sure that you understand the credit card offer. I am going to discuss some important factors to consider before you sign your name to that credit card application.
First off, it is extremely important and beneficial for you to be aware of exactly how long the balance transfer offer will last. It is safe to say that most 0 balance transfer cards offer zero percent interest rates from anywhere between six to twelve months. Knowing how long the offer lasts is half the battle for you as a cardholder; the other half include insuring that you pay off your debt within that period of time.
More often than not, 0 balance transfer cards assess a transfer fee for each and every balance that is successfully moved from one card to another. It is quite common for many lenders to assess a fee that ranges from 1% to 3% of the transfer amount while other companies may just charge a fixed fee, such as $75. The interest rate is not important unless you plan on using the credit card for purchases after you pay off your balance.
O Balance Transfer Cards
Depending on your needs, you may want to consider 0 balance transfer cards that offer sign up bonuses, rewards bonuses, cash back or points, travel rewards or gasoline rebates. This way you can take advantage of all of the potential offers after you have paid off your balances that you transferred from credit cards that have higher interest rates.
So, I have compiled a list of the best 0 balance transfer cards, based on the criteria that I have outlined above for you to review. In order to find the best offer, take your time and compare the following information from the different offers.
The Discover More American Flag Card is a 0 balance transfer card that offers zero percent interest for a full twelve months with a 5% transfer fee. Interest rates for this particular card start at 11.99% and can be higher depending on the strength of your personal credit. On select items, you will be able to receive 5% cash back and 1% on all other purchases.
0 balance transfer cards such as the Discover More Card offer zero percent interest for a period of six months with an assessed transfer fee of 3%. Interest rates start at 11.99% and just like the Discover More American Flag Card, cardholders will be able to enjoy cash rewards of up to 5% on specific items and 1% cash back on all other purchases.
0 balance transfer offers from Citi Platinum Select MasterCard advertise being able to take advantage of a zero percent interest rate for six months. Additionally, this card allows for cardholders to make new purchases that will remain interest free for six months. The transfer fee is fixed at 3% and interest rates are variable with rates as low as 11.99%. In other words, the stronger your credit score, the better your fixed interest rate will be. Unfortunately, with this credit card, there are no rewards benefits for cardholders to take advantage of.
0 balance transfer offers are also available for college students! The Citi mtvU Platinum Select Visa Card is perfect as it offers 0% APR on purchases and balances for a period of six months. Your application and credit history will play a large role in whether or not you qualify for an offer such as this one.
There is also a unique student rewards program that rewards students based on good grades, consecutively making payments on-time and not exceeding the established credit limit. The rewards are intended to instill good habits as far as credit cards are concerned.
As you can see, most of these 0 balance transfer offers include some type of cash back or rewards program. This is exactly what makes them a nice option to use after your balance transfers have been paid off! Well, what are you waiting for? Don’t you have some offers to review and an application or two to complete?
Tags: 0 Balance Tranfer Credit Cards, 0 balance transfer card, 0 balance transfer cards, Zero Balance Transfer Offer
