10 Jan
Posted by Admin as Credit Cards
Balance transfer credit cards are cards intended to permit cardholders to transfer debts from one credit card with higher interest rates, transferring to another credit card with lower interest rates. The purpose is to avoid extra financial charges, while saving on interest charges. The balance transfers to cards with lower introductory rates, not only saves on interest during the introductory trial, it will save hundreds, or possibly thousands annually on interest charges.
Balance Transfer Credit Cards, Balance Transfers
While considering balance transfer credit cards you must consider and understand that the expiration dates on balances that are transferred. You must also understand the APR and what fees you will pay after the introductory trial has ended. Ask the card lenders if the introductory rates will apply to the first transfer, or if the rates will only apply to balance transfers made throughout the introductory trial.
The holidays are over. Perhaps you spent more on gifts than you expected. You haven’t thought about it much yet, but you will soon — once those credit card bills arrive in the post.
If you’ve spent a little too much, you might be kicking off the year with a mountain of debt to dig your way out of. How can you start paying down that credit card debt without causing unnecessary stress and making matters even worse?
Here are some tips that will help you get out of holiday credit card debt as quickly as possible, hopefully without being too much of a burden:
1. Stop using your credit cards.
Vow to stop using your credit cards to finance any purchases until you pay off the holiday debt. Continuing to use your credit cards will just compound the problem and potentially lead to interest fees being tacked on (because you’ll need to pay off your whole balance in order to get interest free days — something that’s difficult to do if that balance keeps growing in the meantime).
2.
According to Santander cards, 4.5 million Britons will move over 3.2 billion pounds between credit cards during the first three months of 2010. The credit card company said that rate tarts those seeking a hot introductory offer to transfer their balance to, has soared.
However, despite this, total volumes are likely to be down. According to Sanrander, borrowers in the South East will transfer an average of 1,800 pounds per person. Under 55s were the most likely to make a switch, with 17% of this age group considering a move.
Santander offer several credit cards, including the Zero Card . The bank will plan to launch a Zero current account in the UK this month.
I like American Express a lot, I don’t hide that fact. Their customer service is stellar, it’s easy to dispute fraudulent/bogus charges, and the rewards tend to be the best in the industry.
Their credit cards also look cool, and who doesn’t like to look cool?
At the same time, a number of American Express credit cards come with some hefty annual fees, which I’m not a fan of.
I’ve never embraced the idea of paying a fee to use a credit card, it just doesn’t sit well with me.
Fortunately, American Express has a number of credit cards with no annual fee, good ones at that.
So check out the following American Express cards with no annual fee:
Blue from American Express®
0% Intro APR for 6 Months on Purchases, “No Annual Fee,” Point-based Rewards Program, Instant Approval in Under 60 seconds
Blue Cash® from American Express (my personal favorite)
0% Intro APR for 6 Months on Purchases, “No Annual Fee,” Cash-Back Rewards Program, Instant Approval in Under 60 seconds
Up to 5% cash back at supermarkets, gas stations, and drugstores.
When you’re looking for a new credit card, how do you compare credit card offers? Which banks do you consider applying with? Have you thought about contacting your existing bank? If not, maybe you should! Your current bank might just be the perfect credit card provider.
There are some obvious benefits to having a bank account and credit card with the same bank — you can make payments in person when you visit the branch for example. But the real reason your existing bank is such a worthwhile option to consider is the fact that your bank already knows a lot about you.
Why Having Your Personal Information is a Good Thing
When you apply for a credit card, your information is held up to a somewhat rigid set of standards. Those rules can be bent though. You have a better chance of that happening (and a better chance of being approved and getting a better deal) if you apply for a card with your current bank.