The more you understand about any subject, the more interesting it becomes. As you read this article you'll find that the subject of credit card balance transfer is certainly no exception.
You hear about these transfers all the time when you apply for a new credit card, but do you really take advantage of them when you apply? If you don't, you may find that you're missing out on some pretty good deals, and let me tell you why.
When you apply for a card with a low introductory rate, you're going to find that you can take any balance you have, and transfer it to your card. When you transfer it, you're going to get 0% interest on that card for the duration of the card balance. For instance, if you get a 6 month introductory rate, you're going to get 0% for 6 months. After those 6 months, you're going to have to pay full price after the intro rate is over. This is why it's important to pay it off in full before that rate hits you.
Hopefully the information presented so far has been applicable. You might also want to consider the following:
What is it good for?
These rates are great for any loan balance that you may have. From your mortgage, to your car loan, you're going to find that if it has a balance on it, and you can pay it off within a few months, I would highly recommend that you consider a balance transfer card. The only way that I wouldn't recommend it is if you can't pay it off within the introductory period. You're going to find that it's a great way to save money, and if you're a fan of saving money, I would say that you should highly consider this type of card.
The day will come when you can use something you read about here to have a beneficial impact. Then you'll be glad you took the time to learn more about credit card balance transfer.
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