| Are you staring at that attractive
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| | afterward the APR is 20%, whereas credit
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| advertisement for switching credit card
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| | card C's higher rate lasts for a year and
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| companies by transferring your balance
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| | the interest rate after that is 18%, the
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| from one card to another? While many of
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| | same as yours on credit card A.
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| these offers are truly great deals,
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| | In other words, you have to factor in a
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| balance transfers and card-switching is
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| | lot of variables when making the decision
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| not something to jump into, eager as you
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| | to switch your balance from one credit
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| may be. You need to do your homework
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| | card to another. Besides comparing the
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| first: Do enough research and
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| | introductory rates being offered, the
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| investigating in order to determine
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| | length of the offer and what the regular
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| whether it in fact is worth it or a good
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| | interest rate is, you'll also need to
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| idea to make the transfer.
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| | take into account balance transfer fees,
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| First, find out if it is in fact worth
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| | annual fees, late fees and other fees, as
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| it. Generally speaking, these attractive
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| | well as whether the teaser rate applies
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| advertisements and super credit card
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| | to balance transfers only or also
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| deals advertise very low introductory
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| | purchases, among other considerations.
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| rates if you transfer your current
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| | Something else to keep in mind is that
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| balance from an existing credit card onto
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| | you may not actually qualify for the
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| this new one. You can stumble upon these
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| | special rate being offered, depending on
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| offers anywhere-online, in the mail, on a
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| | your credit history and credit rating.
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| flyer or via a telephone call from credit
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| | Before you make the big plunge, make sure
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| card company salespersons-and you need to
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| | you know exactly what you, yourself, will
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| determine how great these deals really
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| | be getting. There may also be other
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| are, or if you'll just end up paying much
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| | conditions. For example, some credit card
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| more in fees and interest in the long
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| | companies may penalize you for one late
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| run.
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| | payment and take you off the introductory
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| Read the fine print. Read everything.
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| | rate onto their regular rate, which may
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| Read it through several times so that you
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| | be higher than your current card's rate.
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| make sure you understand what it is
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| | However, many credit cards with these
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| saying. It may appear to be a bunch of
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| | introductory rates offer great deals for
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| financial jargon that you might not think
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| | people interested in switching credit
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| is very important, but the truth is, this
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| | cards and transferring their balance over
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| information is valuable and critical to
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| | and can be more than worth it. The
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| your decision in whether or not you make
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| | important thing is to do your research,
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| the big switch. Call the credit card
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| | read the fine print and ask questions to
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| company and ask any questions you might
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| | determine which credit card and deal is
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| have. If the deal is solid and they want
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| | the right one for you.
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| to make a sale, generally they should be
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| | Once you've selected the right credit
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| able to help you out in any way.
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| | card offer, the next step is to fill out
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| What do you need to find out about the
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| | the balance transfer application form
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| deal? Here is an example. Let's say that
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| | completely and accurately. Next, make the
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| the advertised introductory rate is 6% (a
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| | minimum payment on your original credit
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| low rate) on credit card B if you
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| | card while you wait for the balance
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| transfer your balance from credit card A,
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| | transfer to go through. When it has gone
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| where you currently rack up an APR of 18%
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| | through, the new company should send you
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| (a standard rate). You come across
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| | a notice, after which you'll need to
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| another offer, showcasing credit card C
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| | verify the transfer with your old company
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| with an introductory rate of 9%. At first
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| | so they can send you a zero-balanced
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| glance you may think, "Well, let's go
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| | billing statement. Finally, cancel your
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| with credit card B-it's the obvious
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| | old card since you don't need it
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| choice here." However, after reading the
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| | anymore-it will also save you some
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| fine print, you discover credit card B's
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| | temptation.
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| special rate only last six months, and
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| |
|
