Have you read your credit card statement lately? Do you know
what your annual percentage rate is? How about your annual fee?
You may be surprised to learn that your current card is not the
bargain you once thought it was. If you are tired of paying fees
and big monthly payments then shopping for a new credit card is
a must. Some balance transfer cards are better than others; here
are some things for you to look for with your new card:
Low Introductory Rate - If you are paying a high interest rate
for your current credit card you can save yourself plenty of
money by shopping for a card with a low introductory rate. Yes,
there are still many balance transfer credit cards available
that will give to you a rate as low as 0% for twelve months. By
obtaining one of these cards you could save yourself hundreds of
dollars per month and pay off your outstanding balance faster.
Transfer Fees - Balance transfer credit cards may charge you a
small fee to make a transfer. Still, there are some cards that
charge no fee on the initial balance transfer upon applying. It
may be to your advantage to pay the transfer fee especially if
you are going from a high annual percentage rate card to a low
percentage rate card. Crunch some numbers to find out which card
works best for you.
Save on Annual Fees - To secure your business, many balance
transfer credit card issuers such as Chase and Citibank charge
no annual fee. This can be a nice alternative for you especially
if you have been paying $35, $50, $85, or more for your current
card annually.
Get Rewards - A nice option for many consumers are those balance
transfer credit cards that reward you for using that card.
Depending on the plan, you can quickly accumulate airline miles,
hotel stay credits, take a cruise, rent a car, accumulate points
toward receiving free gifts, and more. Some cards, such as the
Citi Diamond Preferred Rewards Card, will even give to you bonus
points upon your first purchase of any amount!
Get Rebates - Like a typical reward card certain balance
transfer credit cards will give to you cash rebates toward the
purchase of a new or used car or toward repairs on your current
car. The Citi Drivers Edge Platinum Select MasterCard is an
example of one such card making this offer.
Perhaps the best thing for you today is that choosing a new
credit card is to your advantage. Never before have terms, fees,
and benefits been this good. There is no telling how long any
offer will last, but if you act now you can obtain a balance
transfer card that works best for you. To find your next card,
searching online makes comparing all of the best credit card
offers a breeze.
About the author:
Ed Vegliante runs
www.credit-card-surplus.com , a credit card directory
enabling the consumer to compare and apply for credit card
offers including
Balance Transfer Credit Cards .
