How to ensure you get the best transfer on your credit cards

PhilippaK

May 25, 2011

Looking for the best rates on credit cards? Among the best credit card deals are offers of balance transfers with 0 or low interest but the question is, do you qualify? In addition, there are other limits that you should know of before you sign up. Read this article for more information.

Before you sign up

No interest (0) credit cards offers If you do not qualify for a free or zero balance transfer (0 interest credit cards), do not fret as you can find low introductory rates that may very well be good enough. However, you do have to be careful of the terms and conditions. Understand that 'zero credit card balance transfers' is used as an enticement for new customer sign ups and referrals. Call it a marketing tactic but it works and it may work for you if the conditions suit you. Do you qualify? You may apply for low or 0 interest balance transfer credit cards but that does not mean that the rate is automatically applicable to your circumstance. In other words, the rates may only begin from as low as zero.

Limitations of the offer

When does the offer expire? Besides, the rate is only applicable within a certain time-frame. Do find out the normal rate to pay for after expiration of the sign up offer. Is it good only for balance transfers? Is it true for balance transfers only or can you expect the same rate for new purchases? Perhaps the rate applies to both situations? What are the other charges? There is no need to be hasty. Find out if there is a fee to pay for every balance transfer and what about annual fees? What if you made your payments late and or exceeded the limit of usage?

Tips and warnings

Please be aware that the offer may be good only for the initial balance transfer. This means that a certain fee applies after that first transfer, every time you transfer. You should be clear that the offer is good for as long as you are good in your repayment (for as long as the offer lasts). Otherwise, the rate increases and sometimes, quite substantially for you.

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