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The Best Time of Year to Take up A Balance Transfer Offer
Posted on June 4th, 2010 No commentsIf you think about it, taking up a 0% balance transfer offer is like getting a bonus in your paypacket, staggered monthly over 6 months, and dependent on the size of your credit card debt. Given that many balance transfer credit cards revert to the cash advance rate (over 20%) after the initial honeymoon period, you should time your take-up of a balance transfer offer very carefully to get the maximum benefit. You’ll want to make sure you can pay off as much as possible within that initial period, and that you’ll have no extra bills coming up in those 6 months. Today we check out some of the best times of year for different people to switch to a 0% balance transfer credit card. Read the rest of this entry »
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Best of Both Worlds: Five 0% Balance Transfer Cards with a Rewards Program
Posted on May 28th, 2010 No commentsUsually getting a credit card is a balancing act. Banks almost invariably offset one discount with an increase in another area, so it’s a matter of deciding which is worth more in your particular case. Today we’re looking at some great all-round cards that get you the best of all worlds – a 0% balance transfer offer AND a rewards program! For those of you that currently have a debt, put much of your everyday spending on your credit card and pay it off regularly, these are among the best credit cards. Read the rest of this entry »
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The Most Expensive Balance Transfer Credit Cards
Posted on May 21st, 2010 No commentsWhen your credit card company sets a program of features, they have to assume that every single person who applies for the card will use ALL of the benefits, to the fullest extent possible. So, they have to cover the cost of all that free travel insurance, the extended warranties and free flights, and the concierge services. So generally, more benefits = more fees and charges in a credit card. Today we’re looking at some of the most expensive balance transfer credit cards you can get – if you like the look of one of these cards, make sure you take advantage of all those added extras! Read the rest of this entry »
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Can You Consolidate Debt with a Balance Transfer Card?
Posted on May 14th, 2010 No commentsWhen people think of debt consolidation, the strategy that usually comes to mind first is to roll every other debt into your mortgage, and enjoy the lower interest rate and predictable repayments. However, there is another debt consolidation method that can save even more money in some situations – using a balance transfer credit card. Here we check out how much you can save, and the caveats that all balance transfer-ers should be aware of. Read the rest of this entry »
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How Much Will Your Balance Transfer Card Cost You?
Posted on May 8th, 2010 No commentsIf you don’t have a head for numbers, trying to compare credit cards and judge how much each will cost you can be a nightmare! Today we take a completely objective view of the balance transfer credit cards available today, looking at their cost to own in interest and fees over 3 years, assuming a $3000 balance is transferred, and only minimum repayments are made. We’ll also suggest a few credit card workarounds to help you push the figures a little further down! Read the rest of this entry »
If you think about it, taking up a 0% balance transfer offer is like getting a bonus in your paypacket, staggered monthly over 6 months, and dependent on the size of your credit card debt. Given that many balance transfer credit cards revert to the cash advance rate (over 20%) after the initial honeymoon period, [...]