Credit Cards With 0% APR Balance Transfers What to Look For

We all know what 0% APR credit cards are, right? It means your credit card will not be charging any interest on purchases and balances. We also know what balance transfers mean, right? Balance transfers mean that you can take balances off of other credit cards you may have and transfer them to your new credit card. Sounds like a great idea, right? It can be if you’re smart and selective in choosing your new 0% introductory APR balances transfers credit card.

Whether it’s personal or business credit cards you’re choosing, you still need to know what to look for with these new 0% intro APR credit card offers. Business credit cards, in particular, often incur large balances so business owners need every possible savings they can find. It’s important to realize with 0% APR balance transfers credit cards that by transferring your balances to your new credit card, the balances are subject to the new interest rate. Keep in mind that your interest rate is not always going to be zero and if you’re not selective and careful, it also may not be low interest. If you cannot pay off these balances almost immediately, you may end up paying a lot in interest charges if you don’t have a low APR on your 0% introductory APR credit after the introductory period is up.

With 0% intro APR credit card offers that offer balance transfers, it’s important to determine which balances you wish to transfer. Determine how quickly you can pay these balances off as well as how long the 0% introductory APR will last. If you won’t be able to pay off the transferred balances before the period of 0% intro APR expires, you definitely will need a card that offers low APR after the period in order to save by transferring the balances. Without a low APR or low interest, you’ll be paying a lot of money in interest charges if you’ve transferred large balances.

Do research as to if there’s a certain length of time in which your balances must be transferred as well as if there is a one-time fee for transferring your balances. These tips are especially important with business credit cards which often carry large balances. With the knowledge you’re now armed with, you can make a wise choice in choosing the right kind of credit cards.

Bill Glass, Editor-in-chief, is the leading low interest credit card marketplace, bringing consumers and card issuers together online. Our site is a free credit card comparison resource where consumers can compare hundreds of credit card offers by category.

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