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Credit Card eZine - News and Articles about Credit Cards

Credit Card eZine - News and Articles about Credit Cards

Get even more information on credit cards? Read our Credit Card eZine. The section is regularly updated by our specialists. Learn all the financial tricks. Know the pitfalls and hidden bonuses. Find out how to transfer balances and accumulate points. We will tell you about the latest offers on the market.Get your credit card education and make the most out of your plastic.

Eliminate Your Debts with Balance Transfer Credit Card Deals!

2007-11-20

For millions of Americans, credit card debt has become an inescapable truth. Living on credit may become a dangerous habit. Unfortunately, this financial habit leads some of us to heavy credit card debts. The most annoying thing about credit debt is that your plastic will rapidly accrue interests so that it's pretty hard to pay off the entire sum. Actually, there are many ways out of this situation. For instance, balance transfer credit card deals that may be an effective financial tool in your fierce struggles for debt relief. Learn how you can eliminate your credit card debt with balance transfer credit cards.

On the one hand, applying for a new credit card seems absolute madness when you face a mounting credit card debt. On the other, your new credit card deal may save you a lot of money, i.e. balance transfer credit card deal.

Credit cards with balance transfers allow you to transfer your credit card debts onto one card, generally, with low interest rates. To be more exact, you will avoid high interest rates while paying off your debt. Balance transfers are definitely a convenience if used wisely. Like any other plastic, these credit cards have their own peculiarities.

Balance transfer plastics come in various shapes and sizes. Some cards charge a fee for shifting the balance and others do not. You can also find plastics with zero APR for a certain period of time. Meantime, there are balance transfer credit cards with a fixed interest rate. So, what balance transfer credit card is good for you?

First of all, make sure you read carefully all the terms and conditions if you really want to benefit from this card. Some cards may attract your attention with extremely low interest rates. This option is really great until you know for sure that you will pay off the balance within a grace period. So, if you have a substantial credit card debt, look for the card with a long grace period.

To make the best credit card deals, one needs to have a good to excellent credit history. So, check your credit report beforehand to make sure that your new credit card won't do any harm to your credit rating. Keep in mind, maxing out your credit cards may have a negative impact on your credit score!

Some cardholders have strong doubts about balance transfer credit deals because of numerous stories about balance transfer traps and tricks. In truth, there's no perfect credit card, especially for those who use them irresponsibly. And balance transfer credit cards are no exception.

Oftentimes, people make silly mistakes just because they're too lazy to read their credit card agreement. Small wonder, their credit card deal ends up in another financial disaster. Balance transfer credit cards are good for those who resolve to eliminate their credit card debt. And diligent cardholders manage to reduce or even pay off this debt with the help of balance transfer plastic.

Make it a rule to use your balance transfer credit cards for reducing your debt only. You may be disappointed with high interest rates on purchases, and very often customers burn their fingers, doing another shopping spree with a new balance transfer credit card.

All in all, balance transfer credit cards are undoubtedly efficient in reducing your credit card debt if you find a credit card offer that suits your financial habits.

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[Sunday, December 18, 2011]
Chase Bank recently announced the redesign of its Visa credit cards - allowing more space on the front for the Chase logo. This new design is in trial mode currently but Visa has pans to roll out its new design to other financial institutions in order to increase the branding and logo visibility of the individual issuing banks.
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[Friday, October 28, 2011]
Debit and credit: they`re both plastic, why not consolidate them? The Cinncinati-based Fifth Third Bank, is the first to offer the DuoMasterCard which consolidates both a checking and a credit card account into one card.
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[Wednesday, September 21, 2011]
It really pays when you do the right thing. Take credit cards for instance, having a clean credit profile really does help. Those who managed to maintain a squeaky clean credit report during the recession can now jump with joy, as they will get some of the best deals from credit card issuers.
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