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Balance Transfer Credit Card Offers - The Best Way to Use Them

In general individuals that often carry a balance on one or more bank cards which they simply cannot completely pay down, are the ones seeking out the zero % balance transfer promotions. If you're able to easily pay your bills monthly, you won't need this. Not that it isn't appealing, for sure, but your purchase rate following the transfer period may or may not be as low as you are currently paying. For those of us with tons of debt and credit cards, this could very well be a great strategy to minimize the amount of interest we are paying, at least for the short term, till the time we can pay down the credit card debt further. So read on to find out the best way to go about it.

Your First Best Option

If you have any credit cards that don't have any balance on them at all, get in touch with those credit cards suppliers first to find out if they have either a 0 percent balance transfer offer or a life of the balance transfer offer. The second option is the most desirable, though fewer companies are offering them any longer. Nonetheless, you really should ask, because you never know and it can be best to pay 5.9%-7.9% for the life of the balance rather than 0 % for 6-12 months, then 12-14% or sometimes more for the remainder of the balance.

Your Next Best Option

If you don't have a credit card available with out a balance, get in touch with the ones you have with the lowest balances to check out just what special transfer rates they have. Do not transfer your money yet! In the case one of them does have a special you think sounds good, ask them exactly how long you have to take advantage of it. Based upon what they say, try to pay down as much as you can on the card first. This way you won't have much if any with the higher percentage rate as well, because you understand the credit card companies probably will post your monthly payment to the reduced interest balances first.

Your Last Option

If you have to apply for a brand new credit card with a 0 percent balance transfer offer, then research them first before you put in a request. You want to have the longest period available at 0%, and yet almost even more critical is the purchase percentage rate after that period of time ends. You need it to be reasonable. Dependent on your own credit ranking together with monthly payment history, you can expect to pay anywhere between 10%-20% interest. Of course the lower the better, but it really is based on your credit standing. Also the credit card companies are substantially more stringent now than they were before, that being said 12-14% interest is not bad if you have decent, but not first-rate credit.

You should certainly bear in mind what you are paying now as well. You would not want it to wind up being any higher than that. You generally will need to apply first before they will tell to you exactly what the interest rate will be, unfortunately. Don't forget that you want to minimize the amount of applications you fill out to 2-3 within a couple of months time frame, mostly if you get declined, because that will likely knock off a few points off your credit score.

Shelling out higher interest than you have to really can make it take a long time to pay down your debt, but obtaining cards with lower interest rates or even a 0 percent balance transfer rate can honestly help. Consider the simple steps outlined here and you should do well.

There's also a search table below, where you can put in any criteria you want to find the perfect card for you.

Click here for best low rate credit cards, or reward credit cards, cash back credit cards, or travel reward credit cards


Here's one with a low initial transfer rate currently 1.99%, but they have pretty good purchase rates as well, and no annual fee, so I'm going to list for you as another option.

Click here for a few secured credit card offers if your credit isn't so great, but not terrible either. They have decent interest rates.


Search for any kind of credit card you want:


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Disclaimer: While we do our best to bring you the most accurate information available, each country and company has different rules and policies. You should always check the policies and procedures of the companies you do business with before making important decisions. We will not be held responsible for actions you take on your own. If you are not sure what to do to help yourself, please seek the advice of a licensed professional. Some links on this site are affiliate links where compensation is received when a sale is made.

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