Posts Tagged ‘balance transfer credit cards’
Balance Transfer Credit Cards – Giving you Credit
Author: Dorothy McGoogan
From that very start, credit cards have become part of modern life. Consumers rely on credit cards to help them get their lifestyle goals by letting them take advantage of special bargains, spread payments out over several months, and provide cash in emergencies.
Credit cards have become so widespread that they are often accepted as a piece of primary identification.
If possible, pay off your balance in full each month. If this is not possible, then make as large a payment as you can comfortably afford. Paying off or paying down your balance is a sound financial move-one that will save you money on interest charges. A low interest credit card is a great idea for anyone to have. There are many different offers out there today and you will want to be careful so that you are making the right choice. You should read over the different offers so that you are not missing out on anything or making a bad choice. There are a lot of cards that sound really great but there may be some fine print hidden somewhere.
If you can’t pay off your balance in full, then slow down on your credit card use for the next while. Take time to step back and have a careful look at how much you earn and how much you spend each month. A little budgeting can save you big money down the road.
Protect yourself against fraud. While credit card fraud is a problem, here are a few simple steps you can take to greatly reduce the risk of becoming a victim.
Sign new cards immediately.When you receive your new or replacement card in the mail, sign it, in ink, right away. If it is a replacement card, destroy the old card by cutting it into many small pieces.
Shred old credit card receipts. You can purchase an inexpensive paper shredder at an office supply store. All old receipts with your credit card number and any unneeded documents with your social insurance number or other sensitive personal information should be shredded before disposal. This prevents the common practice of criminals going through the trash to find receipts and stealing your identity.
Never fax your credit card number. Your credit card number can lie for hours in the fax basket at the other end. Anyone passing by can record your number and begin to use your card number fraudulently. It is even possible for criminals to intercept your credit card number while the fax is in transmission.
Sign new cards immediately.When you receive your new or replacement card in the mail, sign it, in ink, right away. If it is a replacement card, destroy the old card by cutting it into many small pieces.
On the Internet, look for an Internet address that begins The “s” indicates that it is a secure connection and a small padlock symbol should appear in the bottom right hand corner of your screen, indicating it is safe to transmit your credit card number.
Sign new cards immediately.When you receive your new or replacement card in the mail, sign it, in ink, right away. If it is a replacement card, destroy the old card by cutting it into many small pieces.
Take advantage of any security features your card offers. Many newer cards have the option of including your photograph on the card. This is excellent protection and is highly recommended.
On the Internet, look for an Internet address that begins The “s” indicates that it is a secure connection and a small padlock symbol should appear in the bottom right hand corner of your screen, indicating it is safe to transmit your credit card number.
North America has three national credit-reporting bureaus. Your credit rating is held at one or more of these bureaus. When checking on your rating, be sure to contact all three, as your rating may be held on file at more than one bureau. The three national credit bureaus are Equifax, Experian, and Trans Union. Check the Yellow Pages, under Credit to find the numbers in your area.
Review your credit history regularly After you have obtained the best credit card, and are using it wisely, review your credit history on a regular basis. This helps ensure your history is accurate and that any issues have been resolved to your satisfaction.
In the beginning: Be alert for companies offering a great interest rate for transferring your existing balance to their card. Usually these rates are only in effect for a short time, often six months. At the end of this time, the rate can revert to a much higher permanent rate. Keep your eye on the Annual Percentage Rate; this is the figure that counts in the long run.
Lower is better: read the fine print and find the Annual Percentage Rate (APR). This is the interest rate the companies charge you if you carry a balance. You want the lowest rate possible; as each percentage point drop will save you money on the months you have an outstanding balance. Try for a credit card that does not charge an annual fee. Many credit cards charge you a fee each year to use their cards. While this may be offset by other benefits the card may offer, you can find cards that do not charge this annual fee. Why pay for the privilege of using a credit card when you don’t have to. When you have a low interest rate credit card, you will be able to save money. You will find that your payments each month are lower and you will have a better time paying it off in full. This is something that you will defiantly appreciate and like when you see your balance getting lower and lower each month that you pay. This is due to the fact that the money you pay is going to be going towards the actual principle and not the interest. This is a great and wise financial decision to make.
These low interest rate credit cards are a great idea for anyone that is not going to be able to pay the balance off at one time. This way, you are paying less finance charges and you will be able to pay of the card a lot faster. If you have a big purchase or need to use the card often, this would be the better choice.
Lower is better: read the fine print and find the Annual Percentage Rate (APR). This is the interest rate the companies charge you if you carry a balance. You want the lowest rate possible; as each percentage point drop will save you money on the months you have an outstanding balance. Try for a credit card that does not charge an annual fee. Many credit cards charge you a fee each year to use their cards. While this may be offset by other benefits the card may offer, you can find cards that do not charge this annual fee. Why pay for the privilege of using a credit card when you don’t have to. When you have a low interest rate credit card, you will be able to save money. You will find that your payments each month are lower and you will have a better time paying it off in full. This is something that you will defiantly appreciate and like when you see your balance getting lower and lower each month that you pay. This is due to the fact that the money you pay is going to be going towards the actual principle and not the interest. This is a great and wise financial decision to make.
These low interest rate credit cards are a great idea for anyone that is not going to be able to pay the balance off at one time. This way, you are paying less finance charges and you will be able to pay of the card a lot faster. If you have a big purchase or need to use the card often, this would be the better choice.
Don’t settle for the first card you are offered or assume the card you have carried for years is still the best one for your needs. Today’s active consumers have dynamic lifestyles and it pays to check that you are receiving the best value in your credit cards.
Take a moment and review what’s available to you online-you may be pleasantly surprised!
Dewey Finn hates to pay high interest and has done balance transfers from time to time when he thinks he is getting ripped off. Dewey is a self appointed menace to the credit card industry and writes for many magazines such as http://www.bchighway.com/financial-planning/canadian-credit-cards.html
More Student Loans and Debt Consolidation Resources And Information
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