Dealing With Credit Card Balance Transfers
Many people have enjoyed the benefits of transferring their credit card balances from expensive, high rate cards onto low rate or even interest free balance transfer credit cards over recent years. Balance transfers have become an effective way to avoid paying costly interest charges on credit card balances, and with both 0% credit cards for balance transfers and low rate life of balance transfers available there is something to suit most needs and circumstances.
The idea behind balance transfers is that you save money on the cost of interest, which on standard credit cards can be extremely high. You therefore need to pick the right balance transfer card for your needs based on your repayment habits. You will find two different types of balance transfer credit cards available, and this includes the 0% balance transfer credit card and the life of balance transfer credit card.
Actually transferring your balance is a very simple process. All you will need to do it provide the details of your existing credit card balances and account numbers to your new provider, and your new provider will arrange for those balances to be cleared through your new balance transfer card. Your old balances will then be transferred onto your new card, leaving you with just one convenient credit card balance to deal with, on which you will be charged either no interest or a very low rate of interest. You need to make sure that the credit limit on your balance transfer card is high enough to accommodate the combined total of the balances that you are transferring. You also have limited time within which to transfer your balances, so make sure you check what this is and act within plenty of time.
0% balance transfer credit cards
One type of balance transfer card is the 0% balance transfer card, and with this type of credit card you can transfer the balances from your existing cards and enjoy a specified period of interest free credit, which means that you can effectively clear the balance without being hit by further interest charges ? however, you have to clear the balance within the 0% period in order to benefit fully, as otherwise your remaining balance will accrue interest at the lender's standard variable rate.
Most 0% balance transfer credit cards will charge a percentage of the amount being transferred to the card by way of a transfer fee, and this usually varies between 2-3% - this is something that you will need to check when you compare different 0% balance transfer credit cards.
Life of balance transfer credit cards
If you are concerned that you will not be able to clear your transferred balances within a set period then you may fare better with a life of balance transfer credit card. With these cards you transfer the balance in the same way, but rather than getting 0% on your transferred balance you are charged interest. However, the interest rate charged on the transferred balance is way lower than standard rates, and providing you pay at least the minimum amount requested each month you get to enjoy this low rate for the life of the transferred balance.
Joe Kenny writes for the credit card comparison sites, http://www.creditcardstore.co.uk/ and also http://www.comparethem.co.uk/credit-cards/
Related Articles:
Western Union
Western Union (NYSE: WU) is a financial services and communications company based in the United States. Its North American headquarters are in Englewood, Colorado, and its international marketing and commercial services headquarters are in Montvale, New Jersey. Until it discontinued the service, this company was the best known US company in the business of exchanging telegrams.
Western Union has a number of divisions, with products such as person-to-person money transfer, money orders, and commercial services. As of June 9, 2006, the company has 270,000 Western Union agent locations in over 200 countries and territories. Reported revenues top $3 billion annually.
Western Union- transfer funds online to anyone almost anywhere in the world.
Transfer funds online to anyone almost anywhere in the world. Money Gram Online Need To Send Money Now? Send Money Fast & Easy Online!
Western Union scraps telegram service
STOP: After 155 years in the telegraph business, Western Union has cabled its final dispatch.
The service that in the mid-1800s displaced pony-borne messengers has itself been supplanted over the last half-century by cheap long- distance telephone service, faxes and e-mail. In a final bit of irony, Western Union informed customers last week in a message on its Web site.
"Effective January 27, 2006, Western Union will discontinue all Telegram and Commercial Messaging services," said the notice. "We regret any inconvenience this may cause you, and we thank you for your loyal patronage."
The terse notice, confirmed Wednesday by Victor Chayet, a spokesman for the Greenwood Village, Colo., unit of First Data Corp., was in keeping with t ...
Sending Money Transfers With No Fees
Present day technology has presented us with various methods to transfer money in any part of the world. Speedy remittance is one of the features of these methods of money transfer. Using online money transfer methods you can transfer money at your convenience regardless of your schedules. You can send your money by online money orders, which is one of the most popular ways to remit money to different parts of the world. Money order online could be expensive if you are using it to transfer small amount of money. You should consider various factors such as the exchange rate, bank account availability, destination etc. before you opt for money order online. Whether you wire your money to Peru, Vietnam or any other country o ...
Used Car Sellers - Watch Out for the African Buyer Scam
These new-age scammers. They prey on unsuspecting folks who are trying to sell used cars (or other items) through Internet classified ads or an "autotrader" web site.
Spain Remains Popular Destination for UK Nationals
New service from the Post Office takes the sting out of overseas bank transfers to help UK expats when sending money abroad.
Wire Transfers: The Easiest Way To Send Money
In the past, if you wanted to send money electronically through a wire transfer you only had a few options available to you. You could go to your local bank to conduct the transfer, or you could use the services of a company such as Western Union.
Find Out How Money Transfer Services Work
The term money transfer service refers to the ability to transfer money from one person (or institution) to another.
ATMCASH.com Launches New Online and Over the Phone Money Transfer Service
ATMCASH.com lets customers simply and safely send money 24 hours a day, 7 days week to more than 150 countries worldwide using a re-loadable prepaid card.
ACCION USA Competing for $50,000 Western Union Foundation Grant
Financial Support Crucial as Economic Crisis Challenges Entrepreneurs
Money Order Scams - Don't Get Fooled On Craigslist
Craigslist classified listings is a very handy method of selling anything you no longer need You can reach buyers in your own town and throughout the world
Send Western Union Money Worldwide - Anytime!
For those who are really bankrupt and in urgent need of some emergency funds, getting funds through Western Union is one of the best things that one can do today. A quick way to get cash especially for times when you are most in need, a western union money transfer can really be a lifesaver in a number of cases. This is a fact, as I had to use it before. The first time that I got a Western Union money wire was several years ago. Six years ago to be precise. I was far-off, on vacation in England. I was staying there for 2 months and backpacking across the country.
hyperWALLET Launches Global Money Transfer Service for Canadian Consumers and Credit Unions
Enables cost-effective online money transfers to bank accounts in over 30 countries worldwide
Make a Money Transfer to Canada Using One of Three Methods
Whether you are originally from Canada and have relatives still in the country or just have friends vacationing there, you could have occasion to make a money transfer to Canada at some point. If you have never done so, researching all your options is a good idea. Choose the method that is least expensive and easiest for both you and your recipient. Just remember that the exchange rate from U.S. dollars to Canadian dollars is 1.15, so when you send a dollar, your relative will actually receive $1.15, which is convenient for them.
Money Transfers With a Prepaid Debit Card
What was once a time-consuming and expensive process has now become effortless and routine for many immigrants who send money home to their loved ones in other countries. Instead of leaving home, going to a money transfer agent or obtaining a money order, standing in line, and paying expensive fees, people can transfer money to their friends and family quickly and inexpensively.