Know How To Compare Balance Transfer Credit Cards

If you are one of the many consumers in the United States

, chances are you know what credit card accounts are. As a matter of fact, chances are, you probably have a credit card in your pocket right now! However, due to overwhelming amounts of competition in the charge card account industry, many credit card account issuers have started to offer balance transfer credit card accounts as a way to attract new consumers to their charge card products. Because of the many balance transfer offers available, many people are starting to get interested in these types of charge card accounts. But, how should people go about comparing balance transfer charge card accounts?

Well, there are many aspects of balance transfer credit card accounts that I feel are overlooked by Americans. Here are the main points that consumers should really pay attention to:

#1 Introductory APRs: This is the 1 aspect of balance transfer credit cards that I feel is not overlooked at all. As a matter of fact, introductory annual percentage rates are the number one reason for applying for a balance transfer credit card account. Introductory annual percentage rates are special interest rates that last from the day people open the credit card account to the end of the introductory period. Usually the introductory APR is between 0% and 2.9% and lasts anywhere from 6 to 12 months. Although, introductory APRs can be the most attractive part at first when it comes to balance transfer charge card accounts, these should not be the only reason for applying for a specific card!

#2 Standard APRs: This is the 1 aspect of balance transfer credit card accounts that I feel is overlooked the most. Unfortunately, balance transfer introductory annual percentage rates don't last forever! Just like any other credit card account product, interest rates are the main way banks earn cash off of balance transfer charge card accounts. Once the introductory period expires, people will notice their interest rate will increase from the introductory annual percentage rate to the standard APR. Before processing any balance transfer or balance transfer charge card application, people should be aware of and agree to the standard annual percentage rate on the account.

#3 Rewards: As with most other credit card types, most balance transfer charge cards come with rewards programs. Rewards programs allow consumers to earn points with each purchase that can later be redeemed for specific rewards provided by the credit card issuer and it's partners. Some credit card accounts may offer sky miles and travel rewards, some may offer cash back rewards, some even offer gas rewards. When choosing a balance transfer charge card, it is important to compare rewards whereas these calculate in the overall benefit of a charge card account to people!

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