Comments on: Are Credit Card Balance Transfers Really Worth It? http://www.creditcardtipsblog.com/are-credit-card-balance-transfers-really-worth-it/ Practical tips on using your credit cards more responsibly and effectively Thu, 25 Feb 2010 21:46:04 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Credit Card Balance Transfers http://www.creditcardtipsblog.com/are-credit-card-balance-transfers-really-worth-it/comment-page-1/#comment-112 Credit Card Balance Transfers Thu, 25 Feb 2010 21:46:04 +0000 http://www.creditcardtipsblog.com/?p=30#comment-112 Another thing to watch out for with credit card balance transfers is lenders loading their own standard APR rate following a 0% balance transfer introductory period. Normally you’d transfer your balance ($5000) at an introductory rate of 0% for say 12 months. Then your balance would revert to the ’standard APR’ which could be say 16% However, some credit card companies are now offering the 12 months at 0% APR but afterwards instead of shifting your remaining transferred balance to their standard rate of 16% - they will stipulate in their ’small print’ that following the introductory period any unpaid balance which has been transferred will be charged at 18% (or so) until paid off. Generally speaking these lenders are adding a couple of percentage points to their standard rates for outstanding transferred balances once the introductory period has expired. Check the small print! Another thing to watch out for with credit card balance transfers is lenders loading their own standard APR rate following a 0% balance transfer introductory period.

Normally you’d transfer your balance ($5000) at an introductory rate of 0% for say 12 months. Then your balance would revert to the ’standard APR’ which could be say 16%

However, some credit card companies are now offering the 12 months at 0% APR but afterwards instead of shifting your remaining transferred balance to their standard rate of 16% – they will stipulate in their ’small print’ that following the introductory period any unpaid balance which has been transferred will be charged at 18% (or so) until paid off.

Generally speaking these lenders are adding a couple of percentage points to their standard rates for outstanding transferred balances once the introductory period has expired. Check the small print!

]]> By: sri2k6here http://www.creditcardtipsblog.com/are-credit-card-balance-transfers-really-worth-it/comment-page-1/#comment-31 sri2k6here Fri, 08 May 2009 17:46:24 +0000 http://www.creditcardtipsblog.com/?p=30#comment-31 Credit card balance transfer is really worth are they offering lower rate of interest or 0% rate of interest. With 0% interest you relay benefit by paying regularly towards the balance and no interest accruing for the predefined period. You can become debt free very fast with 0% balance transfers by allocating the entire amount you pay towards the reduction of the balance and no interest accruing till the period ends. One must remember to look for any introductory offers that are prevailing at the time you are taking and any fee that are charged on your balance transfer before availing the offer. Credit card balance transfer is really worth are they offering lower rate of interest or 0% rate of interest. With 0% interest you relay benefit by paying regularly towards the balance and no interest accruing for the predefined period. You can become debt free very fast with 0% balance transfers by allocating the entire amount you pay towards the reduction of the balance and no interest accruing till the period ends. One must remember to look for any introductory offers that are prevailing at the time you are taking and any fee that are charged on your balance transfer before availing the offer.

]]> By: srilaxmi http://www.creditcardtipsblog.com/are-credit-card-balance-transfers-really-worth-it/comment-page-1/#comment-27 srilaxmi Fri, 08 May 2009 16:40:20 +0000 http://www.creditcardtipsblog.com/?p=30#comment-27 Yes, I feel credit card balance transfers are really worth. There are many advantageous of this balance transfers. They are you can transfer the credit card balance to card that offer lower rate of interest compared to present one. With lower interest charged on the credit cards you can limit the interest accruing on the balance, there by pay off the balance faster. The other benefit is that you can transfer the balance to credit card that offers 0% interest rate on the balance transfer as an introductory offer; through this the amount you pay monthly towards your credit card payment will reduce your balance and become debt free. Yes, I feel credit card balance transfers are really worth. There are many advantageous of this balance transfers. They are you can transfer the credit card balance to card that offer lower rate of interest compared to present one. With lower interest charged on the credit cards you can limit the interest accruing on the balance, there by pay off the balance faster. The other benefit is that you can transfer the balance to credit card that offers 0% interest rate on the balance transfer as an introductory offer; through this the amount you pay monthly towards your credit card payment will reduce your balance and become debt free.

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