Best 2016 Balance Transfer Credit Cards Offers Online
Finding the Best Balance Transfer Credit Card
If you need to reduce your monthly expenses or just want to be more frugal with every penny you spend, transferring your credit card balance to a lower interest rate card can help. Fortunately, the Internet can make finding the best card for the switch very quick and easy. There are numerous credit card offers now at zero percent running through 2016, this gives you the entire next year to have financial control over a portion of your debts, allowing you to pay off your bills quicker and gain some financial freedom!
1. Out with the old. Transferring your balance essential means using a less expensive card to pay off the money owed on a more expensive one; search online for an unbeatable rate and see how much you can save. Look for promotions with great introductory rates or new companies that are excited to sign customers up. >
2. Simplify your life. In the event that you are carrying a balance on multiple cards, transferring them all to a single card will save you money and simplify your financial obligations. Paying one card cuts time and aggravation out of your life too.
3. Organize other debt. Credit card balances aren’t the only debt you can move to your new and better card, you may be able to place loans and other monthly payments by writing checks from the band issuing the card. If the interest rate on the new card is significantly lower, your savings will be outstanding.
4. Search for the lowest transfer fee. Although the process sounds simple, a balance transfer card will come with fees. These fees used to be capped, but these days the fee will most likely be based on the amount transferred.
5. Find the longest introductory rate. Your initial APR is designed to attract new customers, so it won’t last forever. Search for the company online that is offering you the most attractive rate for the greatest length of time.
6. Beyond the transfer rates. While the full amount of money you transfer to a new card will enjoy the lowest of interest rates, new purchases may not. The specific terms and conditions will vary from company to company, so spend a few minutes looking into this stipulation. Be aware of the rate for future spending on the card.
7. Avoid too many transfers. While repeatedly transferring debt to lower rate cards may sound plausible in theory, in reality it can damage your overall credit rating. Lenders view consumers who maintain high levels of debt as risky, no matter how low their interest payments may be.
8. Be aware of the wait. Once you’re approved, it may take as many as four weeks for the transfer to go into effect. Keep paying the minimum due on your other cards and close down credit lines you no longer need.
Finding the best balance transfer credit card online may take some digging, but the rewards will make your efforts well worth while. You can save yourself a lot of time and money by transferring wisely.