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These two factors play the most important role in determining which balance transfer credit card is best for your situation. If you have a large amount of debt that you cannot pay off in 6 months to a year, the best balance transfer credit card should have a low rate for the life of the balance.
Still too, keep in mind, it's best to wait to make purchases until your balance transfer is paid off.
On the other hand, if you have a small amount of debt that you need to get rid of, the best credit card balance transfer offer to use would be a zero percent balance transfer for a set period. For example, if you have a $4,000 amount of debt that you would like to pay off in a year and you can afford $340.00 a month, you'll be better off at 0% instead of 4.99%.
Along with the general aspects of your debt, some other items to look at when searching for the best balance transfer credit card include the following:
What about business credit cards?Do you own a business? Many businesses have a large amount of debt that they've accrued over time. A great way to get rid of this excessive business debt is with a balance transfer to a business credit card. As with personal credit cards, the more debt your business has, the longer you'll want the balance transfer offer to last.
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