Finding the best balance transfer credit card can be about as much fun as a broken leg. Oh, you can find them easily enough, and everyone wants you to believe theirs is the best. If there were as many as best balance transfer credit cards as the ads claim, you’d never have a problem.
Unfortunately, that’s not the case, and if you want a really good card, you have to be willing to read some fine print and do some homework. On the up side, it’s not as much work as you might think — there are just a few things to watch out for.
Tips on finding balance transfer credit cards
You can find a balance transfer card no problem, but I’m assuming you want the best. With that in mind, here are the steps to follow.
1. Decide what you’re looking for. What matters to you? Are you looking for low interest balance transfer credit cards, or those with a 0% interest rate for a fixed time? Make a list of all the features you’d see on your ideal credit card, and then use 3 colored highlighters to code them: the ones that aren’t too important, the ones you’d like but could sacrifice, and the ones you can’t live without.
2. Collect balance transfer card applications and brochures. Go online and find sites that compare these cards. Look into the cards your friends and family recommend. The point is to find all of the cards you can.
3. Do a quick read of the literature and eliminate the cards that don’t match your criteria. There will probably be some cards you can get rid of right away, either because they don’t meet one of your requirements or because you simply know your credit won’t let you apply for them.
4. Sit down with what remains and read the fine print carefully. The best balance transfer credit cards have nothing to hide, but every card has rules and regulations, so you have to become well informed. A credit card brochure tries to sell you on their services by praising their top features. You need to know everything there is to know, though, so you need to read that fine print too.
For example, what are the card’s regular interest rates? Low interest balance credit cards can have very high rates once your balance transfer period runs out. What sorts of regulations do they have? Is there an annual fee? What sort of limits? In other words, exactly what you’d look at for any other card.
When searching for balance transfer cards, it’s easy to forget that you’re shopping for a credit card, not just somewhere to take the pressure off your current balance. If you want the best balance transfer credit card, make sure you know everything there is to know!
Similar Posts:
- Using a Balance Transfer Credit Card Application Successfully
- Getting The Best Credit Card Offers
- Your Guide to a Healthy Relationship with your Credit Cards
- The Strategy of Balance Transfer
- Strictly Business for Student Credit Card Balance Transfers
Recent Comments