By : Mr Credit Card

Balance Transfer Credit Card Tips

Card Name	Annual Fee	Rate	Why We Like This Card?
Review	$35 to $99	23.90%	Reasonable Fee and Rates Reward Program
1. Item 1	Description #1	Extra Information
1. Item 1	Description #1	Extra Information

0% Teaser Deals can be a great tool to lower your interest payments and used as part of a credit card debt strategy. However, there are things that you have to be aware of or you might trip. Below are a few tips to consider before you get one of these balance transfer deal cards.

Always Pay On Time - As part of the terms and conditions, credit card issuers reserve the right to increase your rates if you are late on one payment. Very often, the new rate could be over 20%. To make sure you take full advantage of the 0% deal, PAY YOUR BILLS ON TIME.

Set Up Auto Payment - The best way to make sure you pay your bills on time is to set up auto payment whereby your credit card bills are paid from your bank account automatically. There are two ways to set it up. The first method is with your bank and the other way is with your credit card company. I would suggest setting it up with your credit card company because if anything goes wrong, you can point the finger at them.

Look out for any changes in grace period - If your credit card company decides to reduce their grace period for example from 25 days to 20 days, it may mean that you have to pay your bills sooner. If this happens, check that your autopay schedule is still good.

Be realistic - If you have a good credit score, chances are good that you can still get 0% deals for 12 months. But if your credit is not so good, be more realistic. You are probably better off getting a low rate deal for 6 months and getting approved, rather than attempting a 0% 12 month deal and getting turned down.

Transfer your balance only after you get approved and know your credit limits - Credit card issuers are so strict these days that you stand a better chance of getting approved if you do not submit your balance transfer request during the application process. It is better to know what credit limits you have been given and then transfer the balance.

Do charge other things on the card - If you use your card for balance transfer, do not charge other things to the card. Your payments goes towards paying the balance transfer and you will accumulate more credit card debt at a higher interest.

Final Thoughts - If you carry a balance, you should always be looking for good 0% deal to reduce your monthly payments and help speed up your credit card debt reduction plans. There are two types of balance transfer deals which you should be aware of. The first is deals which says you will get 0% for a FULL x number of months. This means, if they say 12 months and you get approve, then it is for 12 months. There are others who will offer a 0% APR for balance transfers up to x number of months. The thing you have to be aware is that unless you have very good credit, you may not get the maximum introductory period but may get one that is shorter instead.

Great Teaser Deals Available Now

No Balance Transfer Fee

The Slate® from Chase at present is the only card from a major issuer to offer a teaser deal with no BT fees attached if you transfer a balance within 60 days (contrast this to a typical 3% fee that is usually charged). Not having to pay interest for 15 months and BT fees is a very good offer indeed.

0% - 18 Months

At this moment there are quite a few 18 months deals.
�

The Discover® More® Card is offering 0% Intro APR* on balance transfers for 18 months*. It's not just a good card to transfer a balance now, but also a great cash back card which you will want to keep after the introductory period.

The other Citicard that is offering a 18 month 0% balance transfer deal is the Citi Simplicity Card. What differentiates this card from others is that you do not get charged any late fee penalties in the event of an "accidental late payment" if you have made purchases on the card the same month (ie if you are a regular users).

The Citi® Diamond Preferred® Card also offers a 0% Intro APR on balance transfer and purchases for 18 months. The key difference from the Platinum Select and Simplicity Card is that you get a free concierge service (a feature that is normally reserve for more "high end" cards).

0% - 15 Months

The Citi® Dividend Platinum Select® Visa® - $100 Cash Back offers a 0% Intro APR* on balance transfer for 15 months. In addition to that, this is one of the best cash back credit cards in the market today as it offers cardholders the ability to earn extra rebates on quarterly rotating categories and from their online shopping portal.

0% - 12 Months

The Discover® Open Road(SM) Card offers a 0% Intro* APR* for balance transfer and purchases for 12 months. Aside from having the features of the regular Discover Card, you can also earn 2% rebates on gasoline with this card.
�