What is the Balance Transfers offered by credit cards?

Is it as simple as transfering the debt in my credit card to the new one with the lower rate? or is there any hidden trick?

What is the Balance Transfers offered by credit cards?

Many company%26#039;s will offer you a low rate to get your business. But be sure to read all the info. Some will give a one time offer to transfer all your ballances to them for a low rate even 0% but will charge you a 2 to 3 % transaction fee. Intrest rate and transaction fees are to seperate items. Some will make this offer of 0% and it is good till you pay off the transfer you made, but all other transactions you make will be a low 3.9% . So lets say you transfer $3000.00 and it falls under the 0 % offer they made. Then 6 months later you go out and make a regular purchase at Wal-Mart and charge $200.00, This purchase falls under the 3.9% part of there offer. Here is the catch.Purchases are not included in the introductory offer. They allocate payments at thier discretion. This means when you make your monthly payment ( $25.00)it is being aplied to the $3000.00 transfer you made at 0% and untill that is paid off the $200.00 you charged at wal-mart will keep incurring 3.9% per month.This is just one example. I suggest if you except a low offer and make a ballance transfer, put the card away and not use it till you pay off the transfer. And be sure to make all the payments on time. If your late just once you will pay the regular intrest or even more the rest of the time

What is the Balance Transfers offered by credit cards?

Yes, normally no hidden fee%26#039;s.

Credit card companies want your business and the money they make from your purchases.

I suspect you are looking at some type of ad that wants you to transfer your old credite card debt to a new credit card. If thats the case, call the toll free number on the application and see if in fact their are any hidden fee%26#039;s.

What is the Balance Transfers offered by credit cards?

some time there is a small trasfer fee just check with your credit card because every credit card is different.