What Makes a Good 0% Balance Transfer Credit Card?
Deciding which credit card is best depends on your particular situation and the involves examining the following five factors (the first two are by far the most key though): • The Promotional Period – This is the length of time that the 0% promotion lasts. In other words, once you transfer your debt balances, how long will you have before you are charged interest on the debt. The longer the period the promotional 0% interest rate lasts, the better the deal you’re getting. Most promotions are around 6 months these days. It’s important to remember that the promotion doesn’t exclude you from making regular payments. It only helps you to avoid the interest charges associated with the debt. • The Transfer Fee – This is the amount you will pay to make the transfer. You used to be able to make the transfer without a fee. But these days it will cost you 3%-5% of the balance transferred. If you’re lucky, there will be a cap of $75 or $90 on the fee. • Interest Rate on Purchases – In the event t
