The credit card has more or less become a fashion these days. People, both men, and women are seen to carry more than one card in their purse or handbag that they display with pride about their creditworthiness in the market. However, when it comes to using the credit card, there are several obstacles faced.
The very first thing that the person is likely to think about is how to avail a credit card, not having any credit. However, this should not be the end objective, since there is more to it. It is to be kept in mind that it is a utility tool that can be used on a regular basis, such as purchasing groceries, clothes, making online transactions, paying bills, balance transfers and the like.
Credit card fees
Every credit card provider is likely to charge some interest upon using the card for purchasing things and offer a period, by which this amount is to be returned. Most cards are known to be associated with high fees. This effectively means that the cardholder would end up paying much more than what he had bargained for. In such a case, it would be useful to undertake some research to find a provider who charges low fees and offering a fabulous deal. Searching for the best balance transfer credit cards is sure to help the person to save a good amount of money on interests and enjoy using the card without any hassle.
Tips to availing the best balance transfer credit cards
Before trying to switch onto another card, it is important for the person to know the period during which the introductory offer of 0% balance transfer would remain. Once the limited period expires, balance transfer of the card may become expensive, and the provider is likely to charge for every transaction or balance transfer undertaken. Hence, the offer expiration date is to be kept in mind when using the card and conducting the balance transfer.
Without adequate information, the person may stand to lose a good amount of money in the form of charges. One should not get deceived by those aggressive ads that are generally put up by various providers for promoting their products, offering 0% balance transfer. When looked closely, such deals may come with unusual or unnecessary fees along with them, which are best avoided. Therefore, the offers are to be checked minutely, including the reviews by earlier customers, who may have opted for the balance transfer from a particular provider.
Is the person eligible if he has no credit record?
It is termed to be a common question that is asked by almost every person applying for credit cards or balance transfers. This is essential for those, who are eager not to fall into the debt trap. By browsing through the different sites of the provider, the person can come across those, who are ready to offer balance transfer offers to those not having any credit history.