Best of the Best Balance Transfer Credit Cards
Balance transfer is basically a credit card feature that would allow the transfer of a debt from one card to another. If a customer transfers his loan from card A to card B, card B will pay-off card A of the customers loan. Card B will now carry the loan and give the customer a better interest rate and a longer payment period. Otherwise, what is the point of transferring.
When looking for a new credit card for purposes of balance transfer, it would be best to first spell out important details before the customer can start comparing the available credit cards online. The most significant thing he needs to know for sure is how long it will take for him to fully pay his loan balance. Another thing to consider is the amount of the loan to be transferred, whether huge, mediocre or just a small amount. These details are vital to the customer’s credit cards preference because with these, he would be able to compute the actual savings he would get, depending on the type of feature available. After doing the math, the consumer would now know the card that would give him the most savings.
The main balance transfer features offered by various credit cards are the 0% interest balance transfer, 0% balance transfer or fee-free balance transfer, and the lifetime balance transfer coupled with low annual percentage rate (APR). Some credit cards offer only one of these features while other cards offer two or more of these features in one card. It will be entirely up to the consumer to make sure he chooses the best of the best among all available credit cards that offer the balance transfer feature.
To help the viewer with his choice, hereunder are some of what is considered to be the best balance transfer credit cards in the UK market. Virgin Money credit card offers 0% on balance transfer for 16 months. It however comes with a 2.98% transfer fee and a 15.9%APR. It even has an extra incentive of 0% on purchases for the first 3 months and reward points for Virgin Members.
To help the viewer with his choice, hereunder are some of what is considered to be the best balance transfer credit cards in the UK market. Virgin Money credit card offers 0% on balance transfer for 16 months. It however comes with a 2.98% transfer fee and a 15.9% APR. It even has an extra incentive of 0% on purchases for the first 3 months and reward points for Virgin Members. Barclaycard Platinum offers 0% interest on balance transfers from application to Novemebr 1, 2009. Its fee is 2.9% and its APR is 14.9%. It also gives 0% interest on purchases for the first three months. Another good balance transfer card is the Barclaycard OnePulse which offers 0% on balance transfers for 14 months and charges a transfer fee of 2.9% and an APR of 14.9%. Like the first two credit cards, this one also gives extra 0% interest on all purchases for the first three months.