A balance transfer is when you pay off the balances on existing credit cards or loans by transferring them to another credit card account. To reduce credit card debt, many people turn to credit card balance transfers to achieve their goal. There are many benefits and advantages that go along with these cards
If you are looking to get out of high interest debt, then you should definitely consider opting for a this type of credit card. Here are the Benefits & Advantages of a Zero Percent Balance Transfer Cards.
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What is A Zero Percent Balance Transfer Offer?
There are many credit card companies that offer credit cards with an introductory zero percent balance transfer as a way to give new card members a way to relieve their debt. Your existing balance on other credit cards can be paid off by transferring it to the new card and that way, it will not collect interest on that transferred balance.
The zero percent balance transfer rate is only valid for a set amount of time that varies on the credit card company. After this introductory period, the remaining transferred balance is subject to the standard balance transfer rate for the card. This is something that you should always look after. It is always important to understand the terms and conditions for any credit card.
Why Apply For A Zero Percent Balance Transfer?
A zero percent balance transfer can be an effective way of reducing debt overall. 0% balance transfers can help you to save on interest payments you are making on your existing credit card. This is the main and most important benefit that comes with these cards.
No matter how much in debt you are, you should attempt to make all of your payments on time because only applicants with good credit will qualify for introductory credit card offers like zero percent balance transfer.
The Chase Freedom Unlimited® Card offers a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. Earn unlimited 1.5% cash back on all purchases.
In addition, you can earn:
• 5% on travel purchased through Chase,
• 3% on dining at restaurants and drugstores, and
• Unlimited 1.5% cash back on all other purchases.
There is no minimum to redeem for cash back & your cash back rewards do not expire as long as your account is open.
This card comes with no annual fee and you'll get a free credit score that is updated weekly with Credit JourneySM.
A credit card balance transfer can be a smart way to save money on higher interest rate debt. Use our guide above to figure out if zero percent balance transfer cards are right for you. We hope these that you find these benefits and advantages helpful. Interested in a variety of credit cards? Check out our list of the latest Credit Card Promotions!
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