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Balance transfers are a great way to
save money on credit cards due to 0% apr balance transfer
deals .
Many card providers offer deals in which you can transfer
your existing balances from your old credit card to
your new one.
Credit card interest rates can be quite high and many
people can find themselves in a situation where they
have borrowed a large amount due to high usage of the
card throughout the month, and interest you end up paying
on balances owed can be costly.
Some card providers offer low balance transfers for
the life of the card whereas other card companies offer
Introductory 0%
deals for balances transfers, purchases
or both for a fixed set period. These periods vary from
lender to lender as one provider can offer three months
and another six. After this period you will be on the
normal rate that the credit card provider set when you
signed for the card.
So if you already have a credit card you feel you are
paying too much interest on and feel you need to change
cards pay particular attention to what interest you
will be paying after the balance transfer period has
expired and compare it with the one you want to transfer
from to get the best out of the offer! as well as utilising
the interest free balance transfer period you also want
a low APR. |
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