This article explains the rules for credit card balance transfer offers.
A balance transfer credit card can help you consolidate your credit card debt and sometimes can even help you get out of debt. When you look through all the credit card company offers you get all the time, you will find that they now offer balance transfers in a number of different ways. You will also notice that these credit card companies are all competing for your business, so the perks are getting better and better, especially when it comes to credit card balance transfer offers.
Most Americans' dream is to have a credit card with no interest all the time, not just when they first get it. You can make sure you get the most out of a balance transfer by following a few simple rules.
Pay close attention to any offers you find to transfer your balance. They change all the time, and you don't want to apply for a Balance Transfer after they've stopped offering this special deal.
Keep an eye on your credit card balance transfers to make sure they are done on time and that no time from one card to the next is wasted. You will end up having to pay a lot more in interest fees. When you send a letter to a bank or credit card company, remember to account for the delay that usually comes with mail. The company needs time to get your letter and then write back to you.
Will you transfer your balance to a store card or a big-name credit card? You should pay attention to the APR on the credit card where you want to put your balance transfer. Many store cards have an APR that is higher than that of major credit cards. If you want to transfer your balance to a credit card, choose one with a low APR. The way you handle transferring your credit card balance can be useful and quick, and it can be a great way to avoid getting more credit card debt.
Read the fine print every time. If you want a credit card with 0% APR, that's what you should get. Make sure the 0% includes your balance transfer and how long you have until the APR changes.
Do not send your application to a company you do not trust. You should be able to understand their terms and conditions, their rules about balance transfers, etc... If you have never heard of the company, do your own research. Don't feel like you have to apply just because you don't want to miss out on something good. You may be saving yourself a lot of heartache and money by not applying.
Find out as much as you can about the company you are applying with, like how quickly they transfer balances and how quickly they answer your questions and give you account information.
