Credit Cards With Zero Percent Interest On Balance Transfers
If you make different payments to multiple credit cards every month and you are bored with high interests, we would like to give you a few tips on how to make a credit card balance transfer with zero percent interest. The balance transfer will save you from high interests and relieve your payments for a period of time. In order to do so, you only have to pay a fee depending on the amount you transfer to your bank.
What is Balance Transfer?
Briefly, we can say debt transfer. For example, if you are using credit cards from 5 different banks and you are making monthly payments at different interest rates. This affects you when payment dates and interest rates are different from each other. Transferring all your payments and debts to a single bank and paying them with zero interest for a period is called balance transfer. For this transfer process, you need to pay some money to the banks. Therefore, all banks are eager to do this.
How to Choose Zero Interest Credit Cards for Balance Transfer?
When choosing a credit card for a balance transfer, you must review the promotions offered to you very well. Some banks hold this period between 18 months and 24 months. You will not make interest payments during this time, but when the time is up, you will start to pay more interest than the standard rates. The transaction fee also changes from bank to bank. We recommend you to pay attention to these criteria when selecting the bank that best suits your needs. The transaction fees vary according to the balance rate you transfer and the average is around 3%. For example, when you transfer $ 10,000, you pay a $ 300 transaction fee.