Search:

Where Have All the 0% Balance Transfer No Annual Fee Credit Cards Gone?

If you listen to some consumers, you'd think all of the 0% balance transfer no annual fee credit cards have all magically disappeared from the market. Horror stories abound about people signing up for what they thought were these cards, only to be hit with high fees later. Believe it or not, these elusive credit cards do still indeed exist. It's just a matter of knowing what to look for. Here are some tips to keep in mind.

1. How Long Is The 0% Really 0%?

The first thing you need to ask when looking for 0% balance transfer no annual fee credit cards is how long does the 0% interest rate last? After all, if it's only a 6-month offer and you owe thousands of dollars, chances are you won't have time to pay it off before the "real" interest rate kicks in.

Which brings us to point number 2...

2. What's the "Real" Interest Rate?

If the 0% offer isn't good for the life of the balance, what does the rate go up to when the offer expires? If you're looking at a 22 percent interest rate after six months, you might be in worse shape in six months than you are right now. In this instance, the 0% balance transfer no annual fee credit cards can be your worst nightmare – not your best friend.

So how do you avoid the nightmares? By knowing what's out there. Which brings us to our other points...

3. Life of Balance Offers Do Exist

No matter what your credit card companies want you to believe, life of balance credit card offers are out there. However, 0% balance transfer no annual fee credit cards that offer a 0% interest rate for the life of the balance are very hard to find. Even if you do find them, you have to have excellent credit to qualify.

If your credit is less then perfect, this type of card isn't going to be an options. That being said...

4. There Are Suitable Substitutions

If you don't qualify for the 0% balance transfer no annual fee credit cards that offer a 0% rate until the balance is paid in full, opt for a low-interest fixed-rate card instead. A low interest rate of, say, 9.9% over the life of the balance is a lot better than a balance transfer of 0% that jumps up to 22% a few months after you transfer your balance.

5. Get To It

So now that you know what to look for, try to see if you can find some 0% balance transfer no annual fee credit cards that you qualify for. If you can't, then opt for a low-interest fixed-rate card instead. Then, as your credit improves, try for the 0% balance transfer no annual fee credit cards again.

Article Source: http://www.contentspool.com

For more tips on balance transfer credit cards, saving money and avoiding getting taken, check out CreditCardTipsEtc.com, a website that specializes in providing credit card tips, advice and resources.

Please Rate this Article

Not yet Rated

Add to Onlywire

Click the XML Icon Above to Receive Finance Articles Via RSS!

Other Articles From - Home | Finance

How to get started in Real Estate with very little time By: Heather Seitz - If you do not have time to get started in real estate, you can spend a little cash and have someone do a lot of the labor for you. If you invest in your career, it will pay off for you in the end. Understand there's time versus money. If you have no time and you have no money you have a bit of a challenge, but if you have one or the other you can do it.
Tags: finance, invest in real estate
State of Florida - Can a Financial Collapse be Avoided Without a Credit Card? By: Michael Letcher - The State of Florida is facing a financial crisis more serious than anything else it has ever faced. With a projected budget deficit of $2.3 billion, the State of Florida is one of eight states where a deficit of over $1 billion is expected. The budget shortfall is being blamed on everything from lower collections on documentary stamp taxes from a slumping real estate market to reduced sales taxes on the sale of automobiles.
Tags: finance, state of florida, florida property taxes, florida homeowners insurance, florida hurricane catastrophe fund, warren buffett, berkshire hathaway
3 Reasons Why You Need to Know the Basics of Bookkeeping By: Tom Wheelwright - One area that almost all of my clients and prospects need to increase their knowledge on is bookkeeping. The issue? They don't understand the rules of bookkeeping. After all, they aren't accountants. Most clients and prospects start out by asking what they should do with their bookkeeping. It's often followed by some nightmare story - they tried doing the bookkeeping themselves and it was a mess, or maybe their bookkeeper didn't get things quite right.
Tags: finance, bookkeeping, cpa, tax returns, wealth strategy
3 Tips for Moving Your 401(k) to an IRA By: Tom Wheelwright - In today's business world, people should expect to change employers a few times before retiring. When you change employers, it is common to be asked if you will keep your 401(k) with your former employer or roll it into an IRA. - Here Are 3 Tips to Make Your Transition Easier - * Tip #1: Are you happy with the amount of money your investment is earning in your 401(k)? If you answer yes, then leave your 401(k) where it is.
Tags: finance, ira, tax strategy, wealth strategy, provision, 401(k)
Reverse Mortgages For Nurses By: Carol Solomon - A few years ago, my mom and dad (both nurses) were in a tough spot financially. Living off of a small pension and an even smaller Social Security Check, they were having trouble keeping up with their bills. They were still paying off their mortgage and a home equity loan they had taken out for some much-needed repairs.
Tags: finance, mortgage loans for nurses, reverse mortgages, refinancing
Office Condo Rentals By: Heather Seitz - Throughout the United States there is a growing demand for what are called "office condos." Office condos are similar to condominium units in that each person owns a unit in an attached development. Office condominium developments give business owners a chance to own their property instead of leasing. Not all business owners, however, want to own an office condominium. Consider an attorney or doctor who is just starting out.
Tags: finance, office condos, office condo, buying condo as an investment, buying a condo
Are You a Financial Advisor Who's Addicted to Selling? By: Simon Reilly - The definition of Motivation in Webster's Dictionary; Motive - the sense of need, desire and fear. Based upon this definition, some sources of motivation can be dysfunctional and that is why it can be so addictive. Do you want to be motivated by need, desire and fear or your values? Values are the only form of functional inspiration, versus motivation. Values are something that naturally pulls you forward without a lot of effort.
Tags: finance, financial advisor coach, financial advisor training, financial advisor speaker, become financial advisor, financial advisor marketing, financial advisor support
Stocks: Reduce Risk Yet Maximize Profits By: John Lux - Most investment advisors will tell you that to increase returns you have to increase risk. Everyone wants to minimize risk and maximize profits. You may be surprised to find that this conventional wisdom is not always true. When I was a professional stock trader, I made most of my profits from appreciation in my portfolio, not in short term trading. As a trader, I made money by buying and holding.
Tags: investing, stock, stock market, growth stocks
Single Invoice Factoring Could Save Small Businesses in 2009 By: Kristin Gabriel - Small businesses are bracing for a slowdown during 2009 across all industries. Smaller businesses are often the hardest hit during a credit crunch because they typically lack the resources to get credit from banks and or suppliers. According to the National Federation of Independent Business (NFIB) their Index of Small Business Optimism fell 5.4 points to 87.5. This is the third lowest reading in the 35-year history of the survey.
Tags: finance, invoice factoring, factoring companies, accounts receivable factoring, factor receivables, factoring invoices
Business credit cards shoulder the burden for employees, as well as employers By: Hannah Callen - Being an employee in a growing company generally means have to embrace change; you may find yourself working alongside new colleagues as the business expands and you may even find yourself having to assume new and greater responsibilities.
Tags: finance, business credit card, business credit cards, credit cards

	Print This Article
	Post Comment
	Add To Favorites
	Email to Friends
	Ezine Ready

Submit Articles

Member Login

Top Authors