Evaluating a Balance Transfer Credit Card Offer
By Rachel Nava
When you are going to start looking at transferring credit card balances you are going to want to look closely at those offers before you take a leap forward with the transfers from your credit card.
You are going to want to check to see how long the low introduction rate is on balance transfers. There are going to be some cards that the lower rate is only going to last a couple of months. You are even going to want to check to see if they are going to charge you a higher interest rate if you are late for a payment. Some will consider that if you are even one day past your due date you are late. There are some of the credit card companies out there that are going to charge you a transfer fee when you are planning on doing a balance transfer.
A couple of other things to look out for are the cards that say that you are pre-approved for their card. There are many times that you are going to receive the letter saying that you are guaranteed the credit card until you apply for it then they see that you may not have the perfect credit for their credit card and deny you the card. If they do send you a credit card, you may see that you are receiving a higher interest rate than what you were planning on receiving.
You are going to want to read the fine print when it comes to the annual fee as well. There may be times that they are going end up charging you an annual fee after the first year that you are with them.
When you are planning on transferring credit card balances you are going to want to make sure that you are reading all of the terms that the credit card has to offer. In addition, make sure that you take time and read the fine print as well so you know what to expect when the introductory period is up.
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Rachel Nava recommends Find Credit to help you find a balance transfer credit card offer. See http://www.findcreditcards.org/type/balance-transfer.php for more information.
