Credit companies often put up a very lucrative offer of having best credit cards without any initial fees. These offers however are valid up to only six months. Though there is no fees charged, there will be fixed low interest rates on those credit cards, if you want to have your balance transferred during that particular offer period. The problem is however there are many companies out there are offering a wide variety of credit card best offers, but which one is really the best? To know this you just have to keep some tools handy.
Consumer Reports
Consumer reports is the official database where thousands of credit cards are rated annually. The options for balance transfers are also recommended here. The four credit cards do not charge a balance transfer fee. With each year the banks with the best offers as well as their respective interest rates after the end period of the offer is stated respectively.
Credit History
In order to choose for the suitable credit card, you will have to first see through your credit ratings. Are you eligible for the card also or not.
Also when the introductory offer ends, will you be able to have enough credit to pay the interest rates later on? All these are points that need to be strictly considered as most people are so happy with a free balance transfer that they forget the later deals.
Things To Watch Out For
Balance transfers differs from cash advances and credit companies often tend to confuse customers by sending checks, which causes a customer to think that the balance is being transferred. If terms and conditions are not read carefully you may fall prey to many heavy cash advance fees.
A balance transfer takes approximately 2 months to be completed and so during that time just keep paying the minimums of the current account rather than stopping completely and waiting for this other balance transfer. Remember it cannot be guaranteed that you will get the transfer so do not rely on it blindly.
Similar Posts:
- 0% Credit Card: Purchase vs Balance Transfer Cards
- Credit Card Q&A: With a balance transfer, when can I stop making payments to my old credit card issuer?
- What Is 0% Balance Transfer
- Balance Transfer Credit Cards
- Discover More Credit Card $75 Cash Bonus and 0% Introductory Offer
