The best 0 interest credit cards balance transfer offers tend to be those that offer some kind of bonus as a reward for your efforts in reducing your debts. After all, if you have enough money to pay your bills each month and the interest is so low, why wouldn't you take advantage of it? Balance transfers offer one way to do just that.
There are a few different types of balance transfers that can help you reduce your interest costs. Some of these will have an annual fee while others will not. You may also be able to get some reductions on the interest that accrues on your current account. The best credit card for you will depend upon what you need the card for. For example, if you are looking to get cash advances and purchase large items with your card, then a card with no annual fee makes sense.
If you are paying high interest rates and fees on a credit card that has an interest rate versus a card with no annual fee, there really is no reason to transfer your balance. When you transfer your balance, you are essentially paying the higher interest back, plus the original balance. As a result, you will be re-paying the same interest for the entire length of the balance transfer, even though you will no longer be carrying the debt. This is exactly why people prefer to carry a zero interest balance transfer credit card so they don't have to deal with an ever rising interest rate.
Now that you have an idea about which balance transfer offers have the best benefits, what is your strategy for finding the best 0 interest credit cards? First of all, take some time to see if you can transfer your balances online. There are a number of websites out there that make it easy to transfer your balances between multiple credit cards and even between multiple credit card companies. Most of these services are simple to use, but it is wise to do a little research before just jumping right in.
See what kind of introductory offer you are getting with your balance transfers. Often, card companies will offer a great introductory rate, but will then charge a high transfer fee. This fee is often waived when you are able to get a higher card limit or lower spending limits. It may not seem like much, but over the long run it adds up. For example, a high transfer fee for just an introductory rate can easily reach hundreds of dollars.
Check out any websites that offer free balance transfers. You might find that there are a number of different credit card companies that are willing to offer you a free transfer as long as you are a customer with them for a certain amount of time. Be sure to read through all the terms and conditions to make sure you are not getting yourself into any sort of financial trouble later. Balance transfers are great if you are looking to improve your credit rating, but if you use your credit card too much you could end up having to pay more money in the future.
Finally, talk to friends, family and co-workers who have successfully obtained credit cards with 0 interest. They will be able to let you in on their secrets, such as how they were able to do so, and maybe even give you some helpful advice. The more information you gather, the more you will learn about what it takes to get credit cards with no interest. Before you start filling out applications, be sure to go online and do some comparison shopping. The longer you wait, the less likely you are to be accepted for an unsecured credit card with a low interest rate.
If you want to be able to get credit cards with no interest, then you must be smart about your plan. Apply for one or two now while the rates are low, then call them back once the rates have started to rise. Once you have one of these credit cards, you will be glad that you did. They are truly an excellent way to re-build your credit rating, and even if you do not qualify for the best credit card offers, you can still benefit from transferring your balance to your zero interest card. There are many benefits to transferring balances to an interest free card, including: