Nowadays, many credit consumers turn their credit transfer because they see the benefits of it. This method can save more. Do you know how to do it? In this entry, I’ll like to share with you.
Do your current credit card come with high interest? If yes, then it is a must for you to transferring it to a low interest account. In the market, there’s a low interest balance transfer cards offers. They introduce 0% interest in a period of 12 months or more. After that period you must pay at a much reduced APR.
It is based on companies. They will offer different services. To receive the balance transfer you need to consider the offer inclusion. Survey the credit card websites for the best offers and assess their various benefits. You must know the promo period last. Some of promo might be 0% interest for 16 months and it is best to budget your credit card payment. To get the best offer, pick with the longest promo period.
After that, you must consider the Annual Percentage Rate (APR). It is a fee set by the bank to your account after a year. You must choose the offer with lowest APR. The competition is good and some of companies offer zero APR on first year.
| What is Annual Percentage Rate ? |
Other thing you need to consider is the freebies and privileges offer by the companies. You can make priorities for companies that give rewards program for their services.
You also need to plan for paying off the balance. Search for card deal that give benefits from the volume and frequency of your payment. If you plan to pay in shortest time, the credit company might give better offer.
The last part is check your credit score. Debtors will search whether your credit score is good or not. But don’t worry if you credit score is not good. There’s also offer that you can grab it.
It is good if you have knowledge for transfer credit cards. You will save money and your financial will be stabil. If you have any idea, you may share it at the comment below..