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Best Balance Transfer Credit Card: How to find it

We all know that, what credit cards are used for. We use credit cards to buy anything even when we have no physical money. We can pay the amount that we have used from our credit card later to the card issuer. Here, the balance transfer credit card is nothing but transferring all or a part of your balances from one card to another card. People often use this kind of balance transfer when they could find a new credit card with no balance transfer fee, low interest rate, high credit limit to accommodate your previous balances and offer long period to pay off your balance before the rate of interest enhances.

If you want to take advantage from the balance transfer, you must choose the right balance transfer card. The following points will assist you choose the right card.

  • First of all, you need to check out the introductory rate. The introductory rate is something that can cut off your monthly fee on your balance transfer. A 0% introductory rate is ideal, but you can as well choose to go with 2.99%.
  • Next, you should check the introductory period. Mandatorily by law, the introductory rate of a card must last for 6 months at least, but you can find credit cards that extends introductory period to 18 months or 21 months. You can choose that kind of cards and experience the benefit.
  • Once the introductory period is done, you will have to pay high interest rate, which at times same as the purchase rates. Do not choose the credit card that offers short introductory period and asks you pay high interest rates after the expiry of the introductory period.
  • Choose the card that offers same introductory rate for your balance transfer and purchases.
  • Consider the card that demands no cost for balance transfer.
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