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Balance Transfer Credit Cards

If you don’t have the cash (or, in some cases, you credit card) available from both (cash and credit cards), then you can use another option you might have: Balance Transfers. There are a couple of options that you have available when it comes to eliminating your cash balances, though. These can actually work in your favor. The first, and simplest, option is to simply transfer your outstanding balances from your other cards, and thus, lower interest rates. But first, you must first make a commitment to repay your balance. If you don’t, then you will end up paying a much, much higher interest rate in the long run.

The second option is to try and avoid balance transfer credit cards altogether. You can only make a small percentage from one credit card to another, and only if you commit to paying a down payment (usually in full), on time. Or you can take a small, regular percentage of outgoing credit card balances to pay off the remaining cash.

Regardless of how you like to look at balance transfer credit cards, you should make the first little modification you come across a balance transfer. One may be required to pay an excessive down payment (but minimal interest rate) in order to obtain an ‘introductory rate’ on the new credit card. At a minimum, make the balance transfer rate apply to new credit cards, and then it pays to take that balance down, as if you were to sign a contract which demanded that you pay back the balance you’ve already taken on other card balances until your next credit card payment.

If it pays to take that balance down, you can also make the balance transfer offer on the card you’ve just transferred balances to, and put that balance on your next new credit card account. You might feel a little guilty about it (although, in most cases, you shouldn’t), but there are ways you can improve your credit rating if you opt for this tactic. One such improvement would be to ‘swipe’ your old credit cards! After all, you’re not just taking a credit card right out of the package; you’re actually transferring all of your money from the other credit cards into your own (or do you think there’s any other choice?), so to speak. How? Well, it turns out that there are. You can.

So just how much off your lower interest credit card balances you can do is, but you might not have to pay any interest at all on the balance. But that doesn’t mean you can’t pay for it. There are, indeed, plenty of balance transfer credit cards which offer the intention of offering you a 0% introductory rate for the entire introductory period. So, if you’re not paying any interest as a result of your balance transfer, however, you can still profit from it: there are credit cards which will charge you any interest at all for each of the outstanding balances you transfer to the new card. So, if you’re looking for zero percent interest, balance transfer credit cards with this seemingly innocuous interest rate intention offer.

As you can see, there are plenty of options available to you, and each matter will benefit in your favor. And with a little careful planning, you’ll be able to reap the benefits in your favor.

If you’re not convinced about any other option offered to you, offer a non-negotiable sum to the credit card suppliers. You’ll reap the most. And a little further on in your planning will reap the most.

So keep your mind open, and accept ‘yes’!’ those high interest credit cards that you think you might not need at all.

Balance Transfer Credit Card Offers

Many companies offer balance transfer credit cards such as 0% introductory APR for twelve months with a fixed rate of 0% for a year or so. This means that most credit cards will have an introductory period, but after a couple of months, interest on the balance transfer credit card will almost certainly end up being quite substantial, so not all balance transfer cards are going to be the best value. But if you do have one, the best for you. Just look at the points being added with each transfer, so it helps a lot if you find one that will meet your needs while still offering the best possible deal.

Savings, Balance Elimination

There is a way to simply transfer all or almost all of your existing credit card balances and keep the cash that you deposited in either savings accounts or savings accounts; simply use some of your new credit card and pay it off automatically. Sounds great, doesn’t it? But there is one downside to this strategy, you are likely to lower your interest rates.