Balance Transfer Credit Cards Worth Getting
| July 26, 2010 |
When it comes to getting a credit card to transfer any balances you may have accrued over time, do you really know what you are getting? For some the answer to that question is yes, but for others the answer is not quite the answer they want to hear. Over the last few months we have seen many balance transfer credit cards hit the market and offer consumers great opportunities to save money with lower rates not only on the transfer but also on new purchases.
In an article written recently entitled "Editor’s Pick: Best 0 APR Balance Transfer Credit Cards 2010", we find some of the best balance transfer credit card available on the market today. While there are many cards to choose from, those that made the list offer cardholders much more than lower cost. One offers cardholders plastic that is annual fee free and another offers rewards. The top choices include cards that you may or may not be familiar with and they include Capital One Platinum Prestige Credit Card, Citi Platinum Select MasterCard and the PenFed VISA Platinum Cash Rewards Card.
While having no or a low interest rate on your balance transfer is the optimal solution for switching plastic; one needs to completely understand everything about the card they may be getting. Unfortunately for many people when they transfer balances over from one card to another they solely focus on an introductory rate that is displayed, overlooking the actually cost according to the cardholder’s terms of agreement. In these scenarios, cardholders can find themselves in more debt than before, which is harder to pay off in the long run. Just like with anything that deals with your hard earned money, it is best to completely understand the conditions and cost involved before signing your name on the dotted line.
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