Low Interest Lifetime Balance Transfer Credit Cards

by : Elisa

People use balance transfer credit cards for a variety of reasons that range from making money from balance transfer and credit card arbitrage to paying down and reducing high interest debt by applying for zero per cent to low interest credit card offers. Those trying to earn money by making multiple balance transfers are usually more focused on finding no fee 0% offers that last for a period of one year and those trying to pay down credit card debt generally have a long time span in mind. Our central point here is to offer some useful and practical help to those struggling with high interest credit card debt. We also help them understand and find more manageable ways of relieving and resolving this financial load.

Credit card debt is especially hard to handle if you compare to other forms of loans for the reason that it is usually associated with high interest rates in excess of 15-20% or more depending on individual's credit score and history. If the credit card debt remains unpaid for a long time, the interest will continue to accrue, and the balance can balloon out of control very quickly. That's why it becomes a prime responsibility of people to make a concerted effort towards paying off the debt through regular payment increments. The key to making higher sums of unpaid credit card debt more acceptable while you reduce or make progress on it incrementally is to switch those high interest debts over to accounts that offer lower rates. This can be accomplished by shifting the card balance over to 0% balance transfer introductory APR offers and through the use of so-called lifetime balance transfer credit cards that provide low interest rates. For people who maintain more than average to excellent credit scores, we recommend them to take 0% balance transfer scheme and apply for no interest balance transfers because it offers the least amount of financial investment and no interest is laid on to be borne as long as people continue to pay off regularly each month's minimum card balance.

The biggest negative point with 0% cards is that the longer duration offers generally impose some type of 3% advanced balance transfer fee. No balance transfer fee is more attractive offers that usually have a very short duration which is limited to 6-12 months periods. Another drawback with 0% offers is that after a period of six months or one year promotional period starts running its course and people will need to apply for another balance transfer card if they like to keep rolling over their interest-free debts. If people anticipate paying off their debt soon within a time period of a few months or within a year, 0% balance transfer is a better option for them.

A large number of people coping with the inability of paying off their credit cards debt in such a short span of time. In addition, many have some tough time managing and handling the stress involved with tracking balance transfer offer expiration dates. They have to worry about if they will qualify for another 0% card offer later on when the time or need arises. Luckily, there are several alternative options for those with considerable amount of credit card debt and options are also available for those who find 0% balance transfers credit cards?too short and hard to handle.