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0 Transfer Credit Cards - What to Consider When Choosing 0 Transfer Credit Cards - How long does the 0% introductory rate actually last?

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One of today’s most popular and effective strategies when it comes to managing debt that is distributed across several different credit card accounts is to consolidate that debt onto one single card, the better to make staying on top of payments and keeping debt under control in the long run an easier process. As a result, there have been more and more cards appearing on the scene that were created specifically to cater to people looking to do just that.

A 0 transfer credit card (also known as a 0% transfer credit card) offers new account owners a one-time opportunity to consolidate their existing balance without having to worry about the typical annual percentage rate (APR) for a special introductory period and is without a doubt one of the most popular options when it comes to debt consolidation. While such a credit card seems like the perfect chance to get on top of large-scale debt once and for all, it’s still important to note that not all credit card 0 transfer offers are created equal. The following are some of the most important factors to consider when it comes to determining which one of the many offers out there is the best option for you.

How long does the 0% introductory rate actually last?

Not every card offering that handy 0% APR on balance transfers offers that rate for the same amount of time other cards will. Some cards offer it for approximately 6 or 7 months. Others will offer it for a full 12 months and a special few will even offer it for a stellar 18. A number of programs may offer credit attached to any or all of those ranges, but decide which you’re personally eligible for after further review of your credit rating.

Before you make your final decision on which card is best for you, decide how long you think it will take you to reach your goal in regards to paying down your existing debt and shop around until you find a card that offers that 0% interest rate long enough for you to at least get close to where you’d like to be. Don’t forget to take into consideration the regular interest rate attached to the card as well! Agree to one that’s too high and you could quickly wind up undoing all the good you accomplished during the introductory period.

Does the 0 transfer credit card you’re considering come attached to any annual fees or possible penalties?

When shopping around for 0 transfer credit cards, don’t forget to read the fine print and take note of all the applicable penalties and long-term fees attached to each. Some credit programs look terrific on the surface and offer you a great deal when it comes to making your initial balance transfers, but charge unreasonable annual fees for the privilege of using the card or tack on hefty penalties for making late payments, going over your limit, or winding up in a situation where a payment is returned.

While some fees and penalty policies are to be expected, it’s important to compare and contrast such things from program to program, only signing on the dotted line when you find one that meets all of your needs, both long-term and short-term.

Do any of the 0 transfer credit cards you’re considering come attached to additional rewards?

In order to boost initial interest and long-term customer loyalty, more and more credit card companies are offering potential applicants appealing perks that go above and beyond even the attractive 0% introductory APR on balance transfers. Examples can include practical amenities such as premium protection against fraud, accident or travel insurance, concierge services, and even roadside assistance. Keep an eye out for credit card 0 transfer offer that comes with as many extras that will be useful to you as possible. Give especially serious consideration to fraud protection. You never know when your card may be lost or stolen and it’s important to be covered if that’s ever the case.

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