Finding The Best 0% Balance Transfer Credit Cards

0% Balance Transfer Credit Cards

Do you, like most of us do, throw money out of the window?  Intriguing, but true.  We throw money everytime we pay high interest rates on some credit cards we have.  The ideas of not having to pay cash on most of our purchases, as well as having a steady access to immediate funds, whenever we need them, appeal to us so much that we disregard minor details that can snowball against us later.  Today, many of us could use 0% balance transfer credit cards – is this a better alternative, or just the same rope, called by a new name, to tie around our necks? 

Be cautious.  See the whole picture by reading the finer points

I receive a number of 0% balance transfer credit cards each week. This is typically their selling point. Sure, it always sounds appealing to hear the word "zero." It instantly leads us to believe that we won't lose any money. However, I've learned that it's imperative to examine the tiny print in order to see the whole picture. You want to know how long the good rates last. Many companies that pitch 0 balance transfer credit cards often have an ulterior motive in mind. For example, getting you to transfer your balance so they can jack the interest rates way up a year down the road. My wife regretfully fell for this trick. She received one of the various 0% balance transfer credit cards in the mail a few years back, and decided to transfer a large balance from another card to the new one. Well, at the time this sounded ideal; however, within a year the new credit card had a much higher interest rate than her old one. We all have to watch out for this.

Check and investigate.   Make yours an informed decision

It's certainly not difficult to attain 0% balance transfer credit cards these days. The key is to find a great one that actually holds a low interest rate, over a long period of time. This way you can pay off your balance without losing a ton of money to interest.  0% balance transfer credit cards can save you some bucks. Typically, cards will jack their interest rates only a year down the road. This is where the fine print proves beneficial. You need to check and see how high those rates are climbing. Maybe the new card is not worth your time. Of course you want 0% balance transfer credit cards to deal with your debt, but you don't want to lose money in the long run.