Thinking about balance transfers?

Thinking about balance transfers?

18 June 2008

Balance transfers can help you get out of debt fast if you use them wisely. Many benefits are offered, such as low or zero interest rates, introductory periods, and rewards programs. If you're interested in using a balance transfers credit card, be sure to have the full facts.

Find out what the standard interest rate is - after your introductory period ends, this is the amount of interest you'll be paying.

Does the special introductory interest rate also apply to purchases and cash advances made during this period or just to the balance transferred?

Will your new lender pay off your existing credit card account immediately or will there be a delay - you don't want to be paying for two sets of interest while the transfer takes place.

Remember to always read the fine print when signing up for a new credit card.

Find out more about How Balance Transfers Work and compare balance transfers credit cards to find out the best balance transfers deal for you.

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