Finance Tips

A balance transfer business credit card can end up being a godsend for small business owners. Businesses, like individual consumers, can benefit from switching from high interest rate charge cards. The advantages are quite obvious and they include the following:

1) Take advantage of 0% APR introductory offers. I know that at this time Advanta is offering 0% APR balance transfers for 15 months. Most other issuers will fall in the 6-12 month range.

2) The convenience of consolidating debt from existing credit card accounts onto a single account. From a purely administrative point this is a no-brainer. It is much easier to track and pay one bill than it is to deal with several.

3) Accounting becomes much easier to manage. You will want to look for a card that allows you to access your transactions 24/7 365 days a year. Being able to order up a quarterly statement is also a must.

4) Having the ability to use your balance transfer business credit card to pay down existing debt. Take full advantage of the 0% or low interest rate introductory offer to pay down some or all of your existing debt.

These are just a few, but certainly not all, of the business solutions that can be beneficial to businesses of all sizes. Now let’s take a look at what you should be looking for when you compare balance transfer offers from the likes of Chase, Citibank, American Express and Discover Card, to name a few.

1) Check to see what the introductory rate is and how long it lasts. This is usually 6-12 months but they are all different.

2) Find out what the rates will be when the introductory period expires. Don’t get surprised with high rates. Know what they will be going in.

3) Check to see if there are any balance transfer fees. There usually are fees associated with the transfer.

4) See how much the fees are. As long as the fees are not excessive in most cases it is usually still a sound move to transfer debt.

5) See what your credit limit will be. You are running a business and therefore require a larger credit limit than individuals.

6) Make sure the limit is enough to cover the existing debt. If it doesn’t then maybe you may want to look at offers from other credit card issuers.

These are the main points you will want to consider when comparing balance transfer business credit cards. This is not an exhaustive list by any means but it is an excellent place to start. Go to a reputable credit card web site and take your time to read over the terms and conditions set forth on the credit card applications that interest you.

For many Consumers out there, a lot of them would consider obtaining a credit card
no interest or a low interest credit card as being the number one priority. And
rightly so.. Its saving money on credit borrowing right? This may no be the case
with those who pay their balance off at the correct deadline of each month. But
for the majority of owners out there, obtaining a low to no interest
rate is the way to go, and they don’t get much lower than zero percent!

Utilizing a zero percent balance transfer credit card is a terrific way to save
money. There are balance transfers out there in the market that can actually offer
assistance to credit cardholders in several different ways. You can be sure too,
that there is absolutely no shortage of banks and the issuers offering
their plastic to the consumer. Some of the many leading credit card companies in
the market include the likes of – Discover card, Citibank, Amex, Chase and bank of
America. All these companies use zero percent offers as an enticement to lure new
customers.

These offers work extremely well. They not only work well for the consumer, they
also benefit the credit card issuer as it helps those companies gain new customers
and in many cases they earn big revenue from them. The whole concept of the zero
percent interest balance transfer credit card is of course, the fact that there is
no interest that will be charged for a specified period known as an introductory
period. Normally, these introductory periods usually last anywhere from 6 -12
months, depending on the issuer and charge card that it is offered on.
The longest introductory period I have noticed was 15 months.

What would you say if I tell you that credit cards could be beneficial for you in some situations? While many will advise you stay away from credit cards, there are specific situations where getting a credit card is highly recommendable, if you are struggling with your monthly bills, something no unusual nowadays because of the world economic state, then consider apply for a credit card with zero APR on balance transfers.

Credit cards providers are very active offering promotions and uncountable bonus that you can get just by using your ones, after all their business is all about you using them. However, after a while our human nature is exposed and we realize that we are carrying to much debt, we crossed the line and it is time to do something about it, if we do not do it, then we will pay a higher monthly interest rate that, sooner or later will be impossible to pay with the well know consequences, poor credit score or bad credit records for example.

Zero APR balance transfer credit card then, are a good alternative if we are planning getting control of our finance, as you can see 0% interest rate sounds too good from the beginning, while this is undoubtedly true there are still some aspects to be analyzed and, we have listed them for easy research.

1.- A zero APR for a period of time of 1-2 months is not useful at all, then you need to apply with a credit card provider offering you a zero APR for a span of time as long as possible.

2.- It could be obvious but if you have to pay any fee for balance transfer, then “0% APR balance transfer” is not true, just make sure that you pay nothing, zero, nada for these kind of transactions.

3.- After the introductory period of time with 0% APR (as long as…) you will start paying the regular APR, then the one offering the lower regular APR got some extra points in your credit card providers list.

4.- Are you allowed to transfer the entire balance of your high interest credit card, or just a part of it? you will not get all the benefits if you can transfer just some part of your balance.

5.- Are the purchases made with your credit card 0% APR? it is on your best interest having zero APR on your purchases as well and, as a bonus, a good reward program would work very good.

6.- Are you going to pay on time? if you fail making your payments on the due date, you will be charged the regular interest rate, instead of the zero APR introductory rate offered.

To sum up, consumers having credit cards debt have an option with 0% APR cards, they just need to be sure they are getting a zero APR for as long as possible, that there is no payment for balance transfer and that they can transfer the total balance and not just part of it, then getting a low regular interest rate after the introductory span of time offer is highly recommendable, and as usual, understand that by paying on time it is the only way to keep the zero APR offer while building good credit history.

Whether you are paying a 10% interest rate or 20% interest rate, a 0% balance transfer can save you hundreds of dollars a year in interest. For example, a person with only $2000 in debt on a credit card with a 12% interest rate will spend close to $250 on interest this year. That’s a fairly sizable price for what many consider a small amount of credit card.

In this article, we will explore the simple process of doing an online balance transfer and examine the potential savings.

Step 1 Visit a credit card comparison site to find a credit card that charges a 0% APR on balance transfers for one year. This part shouldn’t be too difficult, as many credit cards provide these offers. (Keep in mind, however, that you can’t transfer a balance to a new card from the same issuer. Thus, if your debt is with one bank, you must transfer it to a different bank. This does not mean you can’t transfer a balance from one Visa to another. The Visa must simply be issued by a different bank.)

Step 2 Before you apply, closely review the credit card’s terms and conditions. Some credit cards advertise a 0% APR for 1 year, but upon closer look, reserve the right to only offer the 0% rate for 3 to 6 months.

Step 3 Once you’ve determined that the length of the balance transfer is 1 year, take a look at the interest rate offered at the end of the introductory period. Try to find a credit card with a low long term APR. However, if you do not repay your balance in full by the end of the 0% period, you can always look into transferring your balance again.

Step 4 Now that you’ve found the right credit card, complete the online application and submit your balance transfer information online. This will expedite the process of moving your balance from the high interest credit card to the one with the 0% APR.

Doing a 0% balance transfer online is a simple process that can save you hundreds, if not thousands of dollars in interest over the course of a year. If you are currently paying your credit card company money to borrow funds, balance transfers are an easy way to stop this trend. All it takes is ten minutes to get a new credit card. There are very few other things you can do to save this much money so quickly. And there are very few reasons not to take advantage of 0% balance transfers.

A 0% interest credit card balance transfer can go a long way in alleviating financial stress. I know that with a lot of Americans the feeling of being overwhelmed can be quite stifling. If you happen to carry a high amount of credit card debt you may feel as though you will never get it completely paid off.

Compounding this problem is the fact that many credit card issuers will raise the Interest rates on people carrying substantial debt because they are considered to be a greater credit risk. Sounds cold doesn’t it? They just keep piling it in.

If this is your present situation then you can at least take some solace in the fact that you are not alone. More and more Americans find themselves deeper and deeper in debt. There are many reasons for this and really no reason to go into that here. That is an exhaustive subject unto its own.

A viable solution can be found in 0% interest credit card balance transfers. They are becoming an increasingly popular way to consolidate and manage credit card debt. And credit card issuers including Bank of America, American Express, Discover Card and Chase are eager to issue them.

These are great promotional instruments for the banks and credit card companies. What they are actually hoping for are to, of course, gain new customers. But ultimately they know that many of these new customers will carry the debt that they transferred beyond the introductory period.

They have this down to a science and know full well that the majority of people are going to do just that. And the credit card company rakes in huge profits from the interest payments. But I’m here to say that it doesn’t have to be that way.

Take advantage of 0% interest balance transfer credit cards by setting up an aggressive payment schedule. Most introductory rates last between 6-12 months. Do some quick math and see how much you would need to pay back each month to pay off the debt before the introductory rate expires.

And take heart. Even if you can’t afford to pay it off in full you most certainly can take advantage of the zero percent interest and pay off a substantial portion of it. And now you are well on your way to being free of credit debt and those nasty interest rates.