Balance Transfer Credit Card Offers: What You Need To Know
Is a balance transfer credit card your ticket out of credit card debt? It can be. If youre having trouble paying off a steep balance and the high interest that goes with it, a balance transfer credit card could be the right solution for you. But before filling out an application, take a few factors into consideration. Educate yourself on the balance transfer process, and youll get the most out of your credit card experience.
What Balance Transfer Credit Cards Are
Balance transfer credit cards have a certain appeal that separates them from other forms of plastic. They offer applicants the chance to shift a balance from a high-interest card to a low-interest one. In fact, most balance transfer cards come with an initial 0% interest period. This means you can make payments that are directly applied toward the balance. As you pay down the debt, you can save hundreds of dollars on interest expense.
How to Compare Balance Transfer Credit Cards
Many balance transfer credit cards appear to be the same, but in reality they vary quite a bit. Check the following details as you sift through...