Generally balance transfer credit cards are offered at 0% interest rate for an introductory period, usually between 6-12 months. The 0% interest rate applies to your purchasing made during that introductory offer and this way you can easily save a great deal of money. It is suggested to pay off your balances on time each month. If you falter or miss your payments then you will end up paying extra in terms of extra fee than what you would have saved.
The average American household spends 14% of its disposable income paying off debts. It puts negative 0.5% into savings. Last year, banks sent out 8 billion credit card applications, a 30% increase since 2005. Credit card companies spend an average of $58 to sign up a new customer.
Balance transfer rates are usually very low to entice new card members, but these rates are distinct from purchase rates which are applied on regular credit card purchases. However, you should be careful about balance transfers with credit cards. This is being offered by credit cards. They are also different from cash advance rates which are applied on credit card cash withdrawals. Before you commit, read the agreement.
Balance transfer credit cards offer various benefits and easy financial assistance to all. You can easily apply and get these cards.