Credit Card Balance Transfers Can Help You Stop Putting Money Down The Drain

As you probably know, interest rates are at all time low right now and if you aren't getting the best deal from your credit card company then they owe it to you to either lower your rate, or you owe it to yourself to find a better deal. You see, credit card companies need your business in order to succeed and if you refuse to pay a penny more than you have to then you'll be doing yourself and others a big favour indeed. By doing this, you'll avoid paying more than you should and the companies will stop treating its clients inappropriately.

Now that this is clear, we will talk about the essentials of balance transfers, how they work and how you can ensure that you get the absolute best possible deal.

1. First and foremost, understand what a balance transfer is. A balance transfer is when you transfer the balance from one card to another in order to get a better interest rate than the one that you are currently getting.

2. Second, to find the absolute best deals, look to transfer balances on cards where the initial interest rate is 0% and the amount after that is lower than the one you have now. For instance, if you're a cardholder that has an interest rate of 27.4% on a £1000 balance and you only pay £150 a month for 6 months, you will not pay off the balance in 6 months. Instead you will pay £247 worth of interest and your balance after 6 months will be £346. In contrast, if you had a 0% card and make the same monthly payment then your balance will be reduced to £100 at the end of the 6 month period, a tremendous saving!

3. Third, don't throw those offers that you receive in the mail away. If you have great credit then you'll likely have credit card companies vying for your attention. Just use this power to your advantage and find the very best 0% deal for you.

4. If no good deals seem apparent, then you have to find your own deals. You can do this by conducting a thorough search on the internet to see if you can find a 0% card offer.

5. Once you've done this, request information and then review it carefully. Pay close attention to the rate after the initial introductory period is over. For instance, if you have two choices of cards with 0% interest rates for 6 months and one charges an interest rate of 15.00% after the initial period and one that charges 11.00% after the initial period then by all means choose the second one because it is by far the better deal overall.

6. Read and then re-read the credit cardholder agreement a couple of times. Make sure that you understand all of the jargon and if you don't, find someone that does before you sign it. Review it closely to make sure that you are getting the best deal possible. For instance, when evaluating deals, you should ask yourself these questions:

a. How long does the introductory rate last?

b. What will be the rate after the teaser expires?

c. What are the cards annual fees? Can they be waived?

d. Are there any transfer fees that you should be aware of?

e. Are there any perks that are offered? (Ex. frequent flier miles, free gifts, etc).

7. Once you've decided on an offer, fill out your application fully and get it in the mail as soon as you can.

8. Once you get the offer, make sure that it is a 0% teaser rate and if it isn't, then contact the company right away. If they aren't open to doing so then tell them that you're cancelling the card and look for another company that delivers what they promise. Your primary goal is avoid the old "bait and switch" while simultaneously saving money on interest.

9. While waiting for your new card, make sure that you continue to pay on your old card to avoid glitches in your credit report and once you receive notification that the transfer has been made, make sure you contact the old company and make sure that they received the payoff amount.

10. After the teaser rate is up, don't be afraid to jump from one credit card to another after the teaser expires. You see, there is absolutely nothing wrong with surfing cards and taking advantage of 0% offers whenever you possibly can. Just keep finding and researching great deals.

That's it my friend. Credit card transfers don't have to be so confusing and daunting. If you follow the above mentioned steps then you can and will win the balance transfer rate and stop throwing your hard earned money down the drain.

Claire Bowes is a successful freelance writer and owner of http://www.the-credit-card-centre.co.uk where you will find further advice and money-saving tips on the best credit cards, 0% balance transfers and cash back credit cards.

---

Google News Updated : Thu, 24 Jul 2008 12:51:51 GMT US cancer boss in mobiles warning - BBC News CTV.ca US cancer boss in mobiles warning BBC News - 2 hours ago The director of a leading US cancer research institute has sent a memo to thousands of staff warning of possible higher risks from mobile phone use. Cell phones: The next cigarettes? The Week Daily Group sees possible link to brain cancer Baltimore Sun ABC News - Los Angeles Times - dBTechno all 549 news articles Publ.Date : Thu, 24 Jul 2008 10:35:11 GMT Obama to demand more from Europe in Berlin speech - Reuters BBC News Obama to demand more from Europe in Berlin speech Reuters - 26 minutes ago By Caren Bohan and Noah Barkin BERLIN (Reuters) - US presidential candidate Barack Obama is expected to call on Europe to do more in hotspots like Afghanistan when he speaks in Berlin on Thursday in his only formal address of a week-long foreign tour. Berliners welcome Obama as they did JFK Christian Science Monitor Obama Starts European Trip With Stop in Germany Wall Street Journal Voice of America - The Associated Press - AFP - Washington Times all 686 news articles Publ.Date : Thu, 24 Jul 2008 12:25:11 GMT Day After, WNBA Untangles Brawl - New York Times ChattahBox Day After, WNBA Untangles Brawl New York Times - 7 hours ago By MIKE OGLE Some of the WNBA’s biggest stars commanded national attention Tuesday night and into Wednesday - but not in a way their teams or the league wanted. Don't count on fights becoming WNBA trend USA Today WNBA may have a fighting chance Los Angeles Times ESPN - Detroit Free Press - Hartford Courant - Denver Post all 876 news articles Publ.Date : Thu, 24 Jul 2008 05:06:48 GMT Sudan's president boogies on last Darfur pit stop - AFP BBC News Sudan's president boogies on last Darfur pit stop AFP - 36 minutes ago EL GENEINA, Sudan (AFP) - A dancing Sudanese President Omar al-Beshir paraded as a man of peace on Thursday during a heavily protected tour of Darfur defying accusations that he masterminded genocide in the region. Sudan counters charges with diplomacy Los Angeles Times Al-Bashir in Sudan peace pledge The Press Association Bloomberg - Monsters and Critics.com - New York Times - Workers World all 1,767 news articles Publ.Date : Thu, 24 Jul 2008 12:15:43 GMT Hunt begins for Karadzic helpers - BBC News BBC News Hunt begins for Karadzic helpers BBC News - 1 hour ago Officials investigating captured Bosnian Serb ex-leader Radovan Karadzic say they will track down and punish those who aided his false identity. Video: Karadzic plans to defend himself in The Hague RussiaToday Kenya: Karadzic's Fate a Lesson AllAfrica.com AFP - Telegraph.co.uk - International Herald Tribune - Hartford Courant all 5,884 news articles Publ.Date : Thu, 24 Jul 2008 11:47:45 GMT Finding Bale's dark side - Chicago Sun-Times Times Online Finding Bale's dark side Chicago Sun-Times - 3 hours ago BY BILL ZWECKER Sun-Times Columnist 'The Dark Knight'' star Christian Bale's alleged ''assault'' in London against his mother and sister is part of a long-simmering family feud. Batman star stays silent in Spain BBC News Christian Bale's lady sidekick: Sibi Bale Los Angeles Times E! Online - hecklerspray - Times of the Internet - New York Daily News all 2,556 news articles Publ.Date : Thu, 24 Jul 2008 09:08:50 GMT Aurilia, Vizquel help Giants rally for win - San Jose Mercury News Washington Post Aurilia, Vizquel help Giants rally for win San Jose Mercury News - 4 hours ago By Andrew Baggarly It would be difficult to claim that the Giants improved their playoff hopes when they rallied for a 6-4 victory over the Washington Nationals on Wednesday night. Aurilia gets key hit, makes pitch for old guys San Francisco Chronicle Giants rally in eighth to edge Nats Sports Network Washington Post - The Associated Press - Washington Times - BlueRidgeNow.com all 455 news articles Publ.Date : Thu, 24 Jul 2008 08:43:04 GMT RSS For Web Pages Website Traffic Promotion

PARLOT::Ebooks, Scripts, Websites, and more...

Adsense websites

What is the Check 21 Act?

Check 21 is the common name for the Check Clearing... Read More

What Happens When Your Credit Is Damaged? Do You Have Recourse?

The good thing about bad credit is that you can... Read More

10 Ways To Protect Your Financial Identity Being Used For Someone Else?s Shopping Spree

Someone impersonating you could be spending your hard-earned money.Impossible! Not... Read More

Why Consumers Need a Nationwide Credit Freeze NOW

What do a shoe retailer, an online discount broker, and... Read More

Credit and Banking Money Saving Services

The first rule when applying for banking and credit services... Read More

Is Your Credit Score Being Held Against You?

Credit Scores That HurtIs your credit score being held against... Read More

New Law Provides Free Annual Credit Report

As of Thursday, December 1, 2004, one-third of Americans will... Read More

Bad Credit? No Credit? Yeah, Its a Problem.

Many companies use the slogan "Bad Credit? No Credit? No... Read More

Protect Yourself Against Identity Theft

Identity theft is when someone uses, without permission, your personal... Read More

Useful Tips on Using Credit Cards

Here are some useful tips on using credit cards. Whether... Read More

Credit Card Expenses Are Killing Your Budget!

Do you know the costs associated with your credit card?... Read More

What Are the Most Common Ways to Commit Identity Theft or Fraud?

It's the number one source of consumer complaints at the... Read More

A Debt Mentality

While working through my own debt situation, and helping others... Read More

What To Look For In A Credit Card

When you are deciding what type of credit card to... Read More

Borrowing on a Credit Card

One of the easiest ways to borrow money of a... Read More

What Are The Most Common Credit Card Mistakes?

Now in a world with so many easy to get... Read More

Winning The Credit Game!

Everywhere we go, the word credit can be found, shining... Read More

Credit Enhancements: Seven Tips For Enhancing Business Credit Transactions

What are the avenues available to businesses with weak credit... Read More

Credit Counseling: Could it Work for Me?

In the face of financial hardship, many seeking a responsible... Read More

Is it Safe to Use Online Car Finance?

Online car finance is convenient. You can apply over the... Read More

Useful Tips When Choosing Credit Cards

Chances are you have received your share of "pre-approved" credit... Read More

Credit Cards -- What You Should Know

There are a lot of questions about using credit cards.... Read More

The Exact Action To Take When You Find Errors In Your Credit Report

There are times when you may be turned down for... Read More

How to Deal with Hire Purchase Debt

WHAT IS HIRE PURCHASE/CONDITIONAL SALE?Although people often talk about "buying... Read More

Bad Credit Loans For Those Who Seek Alternatives for New or Old Car

You can still save money on a Bad Credit Loan... Read More