Best Credit Card Balance Transfer Rate: It Pays to Shop Around

Best Credit Card Balance Transfer Rate: It Pays to Shop Around Smart
shopping for 0% APR credit cards can save consumers hundreds of dollars in
interest charges. Many consumers do not think to shop around for credit
cards. However, with 60 percent of grocery store purchases being made with
credit cards, the decision as to which card the consumer uses can have an
impact on how much is paid in interest. One way you can save money in
interest charges is to shop around for a 0% APR credit card to transfer
existing balances to. The concept of shopping for the best interest rates is
not new for purchases such as homes and cars, but so few consumers stop to
think about shopping around for the best credit card deal.

0% APR credit cards save consumers money

It is possible for you to save hundreds of dollars a year by transferring
balances to a 0% APR credit card. Here is how it works: A consumer applies
for a new credit card with a special introductory interest rate of 0% APR
for balance transfers. After gaining approval, the consumer transfers the
balance of his or her credit cards to the new card.
Some companies may waive the balance transfer fee, but a standard fee is
usually a small percentage of the transferred balance. Whether the old card
has a low 8.9% APR, or whether it has a higher 15.9% APR, the potential
savings are well worth the transfer. For the entire introductory period
(usually 6 to 12 months) it is possible for consumers to avoid paying
interest on their credit card debt.

Sorting through 0% APR credit card deals

Some web sites provide you with an objective way to look at credit card
offers. It is even possible to use a calculator to figure out how much you
can save by transferring balances to a 0% APR credit card. Consumers receive
the information they need to help them decide on the credit card balance
transfer offer that works best for them.
Objective side-by-side comparisons allow a more complete picture of
available credit cards. When you find a card that you like, it is also
possible to apply for that card instantly from the web site. Helpful links
to the credit card companies allow you to receive instant approval on their
credit cards.

A word of caution

A 0% APR credit card balance transfer is a financial tool that can greatly
benefit consumers. However, as with all financial tools, it is important to
use it wisely.
Consumers should be aware that failure to pay at least the minimum payment
on time can result in an immediate end to the introductory period. Many
credit cards, however, provide an automatic debit system or an online bill
pay option. This can help consumers set up automatic payments that ensure
that there are no late payments.

Shopping around for the best bargain is a way of life for many. Applying
that rule to credit card applications can mean that you get to keep more of
your hard earned cash.

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For Balance Transfer Credit Cards click the following link
http://www.credit-card-surplus.com/balancetransfer.php . Ed Vegliante runs
http://www.credit-card-surplus.com , a credit card directory enabling the
consumer to compare and apply for credit cards.