Finding Yourself the Best Balance Transfer Deals

0% Balance Transfer Offer #1:

The Discover More Card --> Click Here To Apply




0% Balance Transfer Offer #2:

The Discover Platinum Card --> Click Here To Apply

It's important to educate yourself when it comes to the different perks and offers that credit card companies will promote in order to bring in new customers.

Some companies will offer a tremendous amount of value-added perks (such as the American Express platinum card).

Some companies will offer 0% APR on purchases for up to 12 months (such as the American Express Blue card).

Some companies will offer 0% APR on balance transfers for up to 12 months. This would include the Discover More card and Discover Platinum card, which are both mentioned above.

Before we go any further, you might be wondering - what exactly is a 0% balance transfer offer?

It is exactly as it sounds - this is when you transfer your existing balance from one card to another card (with a different company).

Credit card companies, in an attempt to lure new customers, will offer 0% interest on balance transfers for a certain period of time (usually 6-12 months).

So let's say that you have a credit card at Company X. This card has a balance of $15,000, and an interest rate of 20%.

You learn that the Discover More card is currently offering a 0% promotion on all balance transfers for 12 months.

This means that you could move your existing balance from Company X to Discover, and pay 0% interest on this balance for 12 months.

For people who are currently getting behind in their credit card payments, this can be an extremely attractive option while they regain their financial footing.

Of course, when the 12 month interest-free period is over, you will begin to pay normal interest rates once again, however this 12 month window can offer a consumer valuable time to mend their finances. Given the current state of the economy, I am sure that there are many people out there who know just what I am talking about.

Keep in mind that these companies will usually require you to pay a one-time "transaction" fee to transfer your balance to their company. This is normally in the neighborhood of 3-5% of your current outstanding balance.

Other than that, there are no catches. What you see is what you get with these offers. They are a great way to take the pressure off for a while, especially if you are finding yourself sinking further and further into debt with your credit cards.

Best of luck - the two cards that I cited above are both very popular with our readers and deserve your attention. Both offer approvals within 60 seconds, so you will have an answer as to whether or not you have been approved in just a few short minutes.

What are you waiting for? Apply today!


Filed under: General Knowledge