Your financial adviser

Balanced transfering


A balance transfer credit card aids in consolidating credit card debt and sometimes can also be a way of steering clear of the burden of debt. You will find as you are searching through all those credit card company offers you receive all the time that they are now offering balance transfers in a variety of ways. You will also notice they all these credit card companies are all competing for your business so the incentives are becoming more and more appealing all the time especially when it comes to credit card balance transfer offers.

The dream of most Americans is to have an interest free credit card all the time, not only during an introductory special. There are a few rules that you can use to ensure that you get the most out of a balance transfer.

Pay close attention to any balance transfer offers that you may find. They change all the time and you do not want to apply after they are no longer offering this special deal on Balance Transfers.

Be Aware that Credit Cards Change


The changes in terms for your credit card can impact you financially. So many people simply pull the statement out of the envelope and never read any of the changes in terms or other materials sent by the credit card company.

There are even some people that assume that their rates won't change and that terms won't go against them.

Make sure you read everything your lenders send you thoroughly. For example, your late fees, overlimit fees and other charges may be rising. The default rate could be going up as well.

Recently some credit cards have raised the minimum amount percentage by a percentage point or more. While this helps you in paying off your card about two weeks faster, it can hurt those that are stretched to the maximum breaking point.

Many credit card borrowers are outraged when things are changed. How can they do this, they ask. Well, they can. They've always been able to, and they do it all the time.

When you accept a credit card, you are signing to the terms promised at the time of offering. But you are also signing a statement that says the issuer can change the terms anytime it wants to, to anything it wishes. Most credit cards are only required to give you a sixteen day notice in the change of terms.