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Balance Transfer

Even if you don’t need a balance transfer credit card today, this could change in the future. And if it does, you want to know what you’re doing and why this could be the right offer for you.

There are a variety of benefits associated with a balance transfer credit card, including but not limited to:

1. Credit card debt consolidation

If you have more than one credit card balance, you should strongly consider a balance transfer credit card. It allows you to bring all your credit card debt under one roof, thus making it easier to manage. Not to mention the fact that you’ll also save money on interest.

2. A lower interest rate

Carrying a credit card balance is a sure fire way to get hit with finance charges. So, if this is going to happen, you might as well have the lowest possible interest rate tied to your balance. A balance transfer credit card allows you to do that.

3. Introductory zero percent interest rate

Most balance transfer credit cards have an introductory interest rate of zero percent. This generally lasts anywhere from 12 to 18 months. You can carry a balance without any concerns about paying a finance charge.

4. More efficient way to eliminate your debt

You could keep your credit card debt scattered on several cards, but doing so will cause you nothing but headaches. A balance transfer credit card provides a faster and more efficient way to pay down and eliminate your debt. As you begin to pick up speed, you’ll realize that you’re heading down the right path.

5. A credit card with rewards

Depending on the type of balance transfer credit card you opt for, you may be able to secure one with high level perks such as rewards or cash back. This allows you to get something in return for the purchases you make on your credit card.

Now do you see why a balance transfer credit card is something you should at least consider?

With benefits like these — among others — you may soon realize that there’s no better way to get your credit card debt under control. Once you have a card and pay off plan you can manage, it’s much easier to make progress.

Do you have any experience using a balance transfer credit card? Were you satisfied with the end result? What steps did you take to make the most of your experience?

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