Low balance transfers are everywhere, but how do you know which one to pick and which one is going to work the best for you? I wanted to give you a check list that you can use, so that you can find the right balance transfer for yourself.
By asking the questions below, you should be able to find the perfect card for yourself...
* How much are you going to transfer? Are we going to transfer a card that has a $5,000 balance, or do you want to transfer a car loan that may cost you around $10,000? The more you have, the more you're going to need to transfer.
* Do you want to use this card after you use the balance transfer? If you're going to use it, make sure that you look into APRs, rewards, as well as a reviews.
* Do you want a 0% APR card? If you're going to transfer your balance, you're probably going to want a card that's going to have a 0% balance transfer rate.
How long is it going to last? The industry average is generally around 6 to 12 months.
What you're going to have to look out for when getting a balance transfer card...
The fees - This is usually buried within the terms and conditions.
Make sure that your car doesn't have a fee to transfer a balance.
Ask if there is a fee! The rate - Let's say that you want a 0%.
How long is it going to last? Some may say for "life", but you have to reach certain goals each month to reach it.
Can you lose it - Some cards will have a great balance transfer rate, but what you may find out is that you're going to lose it if you don't pay on time.
This is something that you don't want.
Find out if there are ways if you can lose it or not.
Every major bank out there such as Citi, American Express, Chase, and others all have great cards that have balance transfers.
Many of them are going to advertise these type of rates and how long they are going to last.
What you're going to want to do is make sure that you're going to be accepted and also make sure that you can transfer your whole balance over.
if your balance is too big, you may find that you can get denied.