Before
deciding on balance transfer cards, remember that the best credit card to consolidate debt is transparent and offers reasonable interest rates in relation to your credit score.
Before
you decide on balance transfer, you should be sure that you will be able to pay off the debt within the introductory interest rate.
Not exact matches
If you
decide to make a
balance transfer, you need to place a hold
on additional purchases with that card.
Another possible
deciding factor: Chase Freedom offers a 0 % Intro APR for 15 months from account opening
on purchases and
balance transfers, then a 16.49 % - 25.24 % Variable APR, based
on your creditworthiness.
When
deciding on the best
balance transfer credit card there are three primary things to look for: APR (interest rate), «interest free» period, and
balance transfer fee.
It's up to you to
decide if you want cash back, travel miles, a 0 % introductory APR
on balance transfers or purchases, or a no - frills card with a low APR and no late fees.
If you
decide to do a form of debt consolidation or a
balance transfer, then note that the new loan you get from Lending Club has a 60 month term with rates starting at 6.63 % APR (based
on your credit history).
On a $ 5,000
transfer, the 5 %
balance transfer fee amounts to $ 250 verses a
balance transfer fee of 3 % which amounts to $ 150, which makes this card slightly more expensive if you
decide to
transfer a
balance after the $ 0 introductory
balance transfer fee period ends.
If a
balance transfer card interests you, review the many offers available, then
decide on one you most want and probably qualify for before applying.
You get an offer in the mail from Credit Card Company B for «0 % APR
on balance transfers for 12 months» and quickly
decide that 0 % is a lot less than 17 %.
However, after you apply for the card, and your credit is more thoroughly checked, the issuer might
decide to issue you a card with a $ 2,000 limit and an intro APR
on balance transfers that lasts only nine months.
If you
decide to make a
balance transfer, you need to place a hold
on additional purchases with that card.
Mary
decided to get a card that offers a 0 percent interest rate
on purchases and
balance transfers for 18 months.
Read
on to find everything you should look out for while
deciding if a
balance transfer credit card is right for you.
If you
decide to make a
balance transfer, you need to place a hold
on additional purchases with that card.
If you
decide to use your card for purchases rather than for its
balance transfer offer, then remember there is a 25 - day grace period where you may clear your
balance so that you avoid paying interest
on the money you spent.