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Balance transfer credit cards are exactly what their name says, a credit card that allows you to transfer your current credit card(s) debt over to another card. For many people, transferring their current credit card balance to a new balance transfer credit card relieves the high interest rates they are paying, sometimes even offering a period of low, or 0% interest, on any balances transferred from another lender. Savvy consumers can use balance transfer credit cards as an opportunity to catch up on their outstanding balances and improve their credit score in the process.
When shopping for the best credit card offers among balance transfer credit cards, it is important to consider balance transfer fees, as well. Some cards may not have a transfer fee for an initial time period, while other credit cards may have different transfer rates that vary depending on your credit score and the amount being transferred. The transfer fee may be a fixed amount or a percentage of the amount being transferred from one credit card to the other. If there is a balance transfer fee, then this should be taken into consideration when making your choice, as it can take away from the amount you could possible save. Also remember that some of the best balance transfer credit cards may not come with rewards of any kind. The main purpose of getting a balance transfer credit card is to reduce the interest you are paying and make it easier to pay down your current credit card debt.
Casavvy connects you a wealth of information on the best balance transfer credit cards to help consumers find the right card for them. With many options available to compare balance transfer credit cards side by side, as well as reviews and ratings from other customers, you can find the right balance credit card offer for you.