Make Balance Transfers Work For You
Make Balance Transfers Work For You

You can transfer the outstanding balance of your credit card to another card and that is called credit card balance transfer. Though all the credit cards make the same offer, but what make the difference are the associated rewards and programs that come along with the balance transfers. The most attractive offer is the zero percent interest for a period of 12 to 15 months. Some rewards programs also get combined along with this offer. The credit card companies generally make these offers when the customer has a low balance in their account.

The basic idea is to induce more funds into the users account and bring him more into borrow and pay cycle. Before accepting the balance transfer offer, read what is written between the lines and understand thoroughly. It is advisable to make a balance transfer always from a high interest credit card to a low interest card. On the other hand, it is better to avoid balance transfer to a high interest credit card.

There are some borrowers who do not have sufficient money in their account and they go on accepting balance transfers from one card to another. But that may make your credit score poorer.

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