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Proper use of a lifetime balance transfer credit card
Posted on December 14th, 2010 No commentsLifetime balance transfer cards are great tools that allow the card holder to transfer an existing debt from one credit card to another. The added benefit is that users only have to pay one single interest rate throughout the duration of their consolidated debt. However, card holders should be sure to use the lifetime balance transfer credit card effectively to save the most money.
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Multiple balance transfers
Posted on September 29th, 2010 No commentsMultiple balance transfers can refer to three different types of credit card transactions, either consolidating a number of card balances onto one account, or splitting a single balance among a number of cards, or moving a single balance from card to card. All of these strategies carry potential issues.
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Unofficial balance transfers
Posted on July 6th, 2010 No commentsMost card users think that there is only one type of balance transfer, the advertised balance transfer offer that is usually only available for the first few months of the card. However there is a way to use balance transfers to cut interest costs on existing cards without applying for new credit cards
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Watch for the cash advance trap
Posted on June 29th, 2010 No commentsBalance transfers are often done to a new credit card to get the cheapest interest rate. However some credit card users can find that they have a poor credit card interest rate after the introductory period has ended.
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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 »
There are many uses for a lifetime balance transfer credit card, amongst the most common uses. We discuss these tips in detail to ensure you save money!