We help consumers find the best balance transfer credit card deals from all of the leading banks and card issuers including Bank of America, Capital One, Chase, Citi, Discover, Barclay, American Express and Wells Fargo. Lock in a 0% balance transfer for 18 months, well into 2019 and maximize your savings!
We work every day to review offers and deals, bringing you the latest promotions from leading card providers to help you get the best credit card in 2018 for your balance transfer needs. Poular credit card balance transfer offers include DiscoverIT, Chase Slate and Citi Diamond Card. Each of these cards has unique features, from zero percent interest up to 18 months, to a card that offers a balance transfer with no fees. Don’t overlook credit card balance transfer deals from Bank of America, one o the top companies all consumers should consider to maximize savings this year!
Looking For A Great Deal Heading Into 2018 For A Balance Transfer Promotion – Start By Reviewing The Latest Credit Card Offers, Updated Daily- Only at balance transfer promotions.net
Balance Transfer Promotions and Credit Card Deals
Save Money, Lower Your Rates, Pay Off Your Credit Card Balances Faster!
These financial goals are common among almost everyone who has credit card debt and is looking for a more cost-effective and quicker way to eliminate this debt. What better way to reduce your monthly payments, avoid interest rate charges and increase your financial flexibility that taking advantage of a balance transfer promotion. Almost every bank and credit card issuer will offer certain perks, rebates, rewards, incentives and promotions to attempt to bring on new consumers. Card issuers from Chase, Citigroup, Bank of America, Discover, Iberia Bank, American Express will offer various promo deals.
0% Promotional Offers Until 2019 – Low Fee Card Promotions
Our objective is to help find you the Best Balance Transfer Promotions on Visa, Amex, Mastercard and Discover Cards. We constantly scour the market to find the “hidden gems” of balance transfer promotions. From card issuers offering a zero percent interest rate for up to 18 months, to card issuers waiving the fees associated with transferring card balances. There are often numerous great offers available to new banking consumers that consumers overlook and could truly benefit from. Promotions such as $100 cash back after your card has been active for six months, or triple miles during your first year of usage. Finding the best card promotions allows the you to use a credit card to your financial benefit!
Consumers love deals and offers, there is nothing more rewarding than having a rebate or reward check sent in the mail for simply paying your bills on time. The “free money” could be a great perk to help you consider starting a new relationship with a bank, lender or card issuer and their promos may be rewarding on the back end, as well as have the potential to lower your card balances to a 0% apr for 6, 12 or 18 months. Lets face it, if you have a debt, nothing beats having a zero percent interest rate.
With the cost of goods failing to keep pace with inflation in 2018 and beyond, millions of Americans find themselves throttled with debt (sometimes into the tens of thousands of dollars). And with interest rates on many cards being less than ideal, consumers often look for ways to reduce their financial burden. Once way to do this is with a balance transfer credit card.
How To Decide If Transferring Your Credit Card Balance is a Good Decision?
Before we get started, what exactly is a balance transfer credit card, what does it do, and do I even need one in 2018?
A balance transfer is the act of moving a financial balance of one account (in this case a credit card) over to another. In the context of credit cards, this means paying off one credit card with another.
Why would somebody want to utilize balance transfers in 2018?
Let’s take a look at two common scenarios / examples:
- To save money on interest payments; (Card A has 16% APR, card B has a 0% introductory rate for 18 months, card B is the better bet for now).
- To simplify payments. What’s easier to remember, paying off 4 credit cards which are due at different times of the month, or a single credit card due on a single day of the month?
What to look for in an ideal balance transfer credit card in 2018?
When deciding which balance transfer credit card is best for your situation there are a few key things to keep in mind:
- A lower interest rate than what you’re currently paying. 0% introductory rates aren’t uncommon (people get these offers in the mail on a regular basis). Just be sure that you know when the introductory rate switches off and plan accordingly. If you aren’t lucky enough to get that mail, you can always check in with major credit card companies.
- Long introductory periods. Minimum is six months but some cards max out at 21 month introductory rates.
- A low balance transfer fee. Most credit card companies charge between 3-5% of the balance being transferred as a fee. The higher the balance transferred, the higher the fee.
Am I actually saving money by doing this?
That depends. If you do things right, the answer is YES. Let’s take a look at some examples. There’s a little math here, but don’t let it scare you.
Total payments = Principle (1 + (interest rate * time))
If you owe $2,000 on a 17% annual interest rate credit card, after one year, your balance will become $2,340 (I’ve omitted monthly payments from the math to simplify things).
This means that you’re paying $340 in interest.
Between the balance transfer fee & your new interest rate, if you spend less than $340 after a executing a balance transfer, you’re ahead of the game! If you more, you’re going backwards.
If you want to do this math yourself just plug your information into the following formula:
Total payments = Principle (1 + (% interest rate * time (in years) ) / 100 )
Things to look out for with Balance Transfer CC’s
- Rate spikes after the introductory period. The point of a balance transfer is to save money. If you transfer to a credit card that, after a period of time, charges you more interest than before, are you really getting ahead?
- Does the interest rate apply to balance transfer, regular purchases, or both
- Frequent credit transfers can damage your credit and make it difficult to make big purchases down the road (home, car).
- Generally, you can’t transfer balances between credit cards owned by the same company.
- Balance transfers don’t automatically close the existing credit card. If you want to turn off a credit card altogether, you need to contact your card holding company.
To Sum things Up, when it comes to Balance Transfer Credit Cards try to:
- Get the lowest interest payment you can.
- Get the lowest balance transfer fee you can.
- Do the math to make sure that after your balance transfer & new interest rate, you’re saving money.
- Keep an eye out for common pitfalls.