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| Author: Beth Derkowitz |
If you have a large balance on a high interest credit card, then a balance transfer card might be the one for you. Balance transfer cards have low or 0% APR rates which allow you to continue paying off the balance without accumulating as much in interest charges. Here are five tips to help you choose the right balance transfer card for you:
1. Consider your credit needs and habits. Do you tend to pay off balances quickly, or pay just the minimum each month? Do you plan on using this card for new purchases or only for the balance transfer? Are you looking for extra features? Knowing your answers to these sorts of questions can help you evaluate different cards and choose the one that is the best fit for you.
2. Consider which card features are most important to you. Are you determined to find a 0% APR deal for your balance transfer, or are you more concerned with finding a rate that will stay low long term? Do you need a low purchase amount APR as well as a low balance transfer APR?
3. Compare several cards to find the best one. You have a lot of possible options for a balance transfer card, including cards with 0% APR or low APR introductory rates, cards with low fixed rates, and cards with low variable rates. Look at several different cards, and consider what all of the details of their terms mean for you.
4. Don't lose sight of what's important to you. Once you start looking at all the different options available, it is easy to get distracted by special deals and rewards. Decide which factors are most important to you at the beginning of your search and stay focused on only those cards that meet your minimum requirements.
5. Check several sources of information. The Federal Reserve publishes a survey of credit card terms every six months, and there are a wide range of websites on the Internet that will let you compare credit card offers and even apply online. |
Author Bio:
To find and apply for a gas credit card, Beth Derkowitz recommends Find Credit Cards. Please see www.findcreditcards.org/type/gas.php for more information. |
| You can search for this article using: free credit report, free credit reports, free annual credit report, annual credit report |
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