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The Best
Balance Transfer Credit Card

Now that you're on a search for the best balance transfer credit card, what do you look for? Opinions vary widely from person to person because the best option is a matter of personal situation. I'll provide you with an idea of features to seek in a credit card that offers balance transfers. I'd also like to suggest some credit cards that, in my opinion, are the best balance transfer credit cards.

Some Questions To Ask Yourself...

  1. How much debt do I need to transfer? Whether you need to transfer $1,000 or $10,000, the amount of debt that you transfer can affect the cost of the finance charge you pay and your minimum payment due.

2. How long will it take me to pay off the balance transfers? A good rule of thumb is to take the total amount of your debt divided by the amount that you can afford to pay each month on that debt.

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:
  • Does the credit card have an annual membership fee?
  • How are your payments made on the account applied to the balance?
  • Does the credit card issuer charge a balance transfer fee?
  • Do you earn rewards on purchases?

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.

What's your opinion of the best balance transfer card? I'd like to hear from you. Fill out the form below and I may post your opinion directly to this webpage.

Please note that all fields followed by an asterisk must be filled in.
First Name*
E-mail Address*
Credit Card Issuer*
Advanta
American Express
Chase
Citicard
Discover
HSBC
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Credit Card Name*
Why do you consider this the best credit card?*

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