Balance Transfer Credit Card Offers

Are you looking for balance transfer credit card offers? There is no doubt that transferring a balance from a high interest rate credit card can save a cardholder a significant sum of money. And at this time we realize that there are millions of American consumers that now find themselves carrying high interest rate balances.

The recession and high rates of unemployment have made the situation far worse. Banks and lending institutions are raising rates and fees to make up for lost profits because of the high default rate. This has left many American citizens in an extraordinarily tight spot financially.

One of the explanations that credit card issuers make a case for raising rates is that they will identify an account holder as a higher credit risk for default. Now the ironic part about that scenario is that in several cases as the cardholder’s rates were raised they were less able to afford to pay them and they then do actually go into default.

Just a couple of years ago balance transfer credit card offers were almost everywhere we looked. The issuers used them to not only pick up brand spanking new account holders, but to also take away patrons from their competition. A truly popular sort of offer was a 0% APR for as much as twelve months and in a number of cases even longer.

These offers are still around but not as plentiful as they once were. To find them and compare the features and advantages of each it is advised that you go to a credible credit card comparison web site. A top quality site will have a whole class devoted precisely to balance transfer offers. This makes it oh so easy to do a side by side comparison.

It must also be noted that many offers have either a low rate of interest or a 0% APR for a short period of time. These are superb for clearing debt quickly but can also get folks into unforeseen difficulties when they don’t understand what the APR will be when the grace period ends. It can all of a sudden become quite pricey.

When doing a comparison you need to also conscientiously read the T&Cs of the offers too. This is often found in the discovery statement and it’ll inform you as to what the costs will be once the introductory rates expire. You’ll also wish to concentrate on charges, credit limits, grace periods, rewards programs details and so on.

Balance transfer credit card offers a great way to save money. Take your time to identify the offers that are a good fit for you and apply online.

Related Information:

  1. Balance Transfer Fees Are Going Up It wasn’t too long ago that we were absolutely inundated with balance transfer credit card offers. It seemed as if we couldn’t turn around without seeing the latest and greatest…
  2. Balance Transfer Credit Cards Compare balance transfer credit cards from the leading issuers including American Express, Discover, Visa and MasterCard….
  3. Credit Card Offers Signify an Economic Recovery There was some very good news reported last week for our economy and most people probably missed it. There may very well be an economic recovery happening right now and…
  4. Credit Card Companies Are Changing the Way They Do Business As the credit card reform act kicks in and defaults and bankruptcies rise to record levels the credit card companies are finding ways in which to reinvent themselves as quickly…