Finding the Best Balance Transfer Credit Cards

Finding the Best Balance Transfer Credit Cards

Finding a good balance transfer credit card these days is quite easy. In fact, you will find that most credit cards now offer zero or low balance transfer rates during their introductory period. It is as if all cards have become balance transfer credit cards.

One of the reasons why so many credit cards offered these days offer unbelievably good balance transfer rates during the introductory period is the sheer volume of cardholders that are looking for a good card to help bail them out from high interest rates they are paying on their current cards. So instead of selectively targeting these cardholders, they just offer low balance transfer rates for almost all their cards for a certain amount of time.

Regardless of the reasons why banks offer such good introductory rates, what remains true is that not all these seemingly good balance transfer credit cards actually have the characteristics of a good balance transfer card. So before you do a credit card transfer, make sure you apply for credit card transfer only towards a card that will give you the best deal in the end.

One of the first things you need to check to find the real and the best balance transfer credit cards is to find out the normal interest rates for balance transfers. This is the rate you will get after the introductory period is over. In a lot of cases, the interest rate is very steep. A real balance transfer card will have low interest rates for balance transfers even after the introductory period.

Once you are able to find the real low interest credit cards, compare the introductory period of each card. You want to find the creditcards that offer the longest introductory periods so that you can avail of the zero interest on balance transfers for as long as possible. Most cards only have introductory periods of 6 to 12 months, however, the best credit card offers have introductory periods as long as 18 months.

After narrowing down the 0 balance transfer credit cards to that with the longest introductory periods and lowest interest rates after that period, you should then compare the interest rates on purchases and money transfers. If you still haven't settled on one card by this time, just continue with your credit card comparison by looking at the other perks such as the features of their online services, the rewards programme, and any other existing promos.

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