No Balance Transfer Fees

Finding a good a 0 APR credit card offer with no balance transfer fees can be a substantial way to pay down the balance on existing high interest cards and avoid paying a lot of money in fees. Merely transfer the balance from a high interest card to a new 0 APR credit card account. Just make sure that you choose one with no balance transfer fees, and pay off the balance before the introductory 0 APR ends.

Many credit card companies are making a vast fortune from finance charges on their credit cards. The average annual percentage rate is about 16% on most credit cards available today. It's tough to pay down a credit card with such high interest, because it is constantly charging interest and adding to the principle. Even hot stocks are not likely to grow at 16% a year. Fortunately some companies are so anxious for your business they offer the 0 APR balance transfer. The annual percentage rate, or APR, tells you what kind of interest rates you will be paying if you carry a balance on your card from month to month, transfer a balance from a different credit card, or take a cash advance.

In the current economic climate, the credit landscape is shifting. The USA is mired in a deepening, catastrophic credit crisis, and thus existing terms and conditions of current credit card and balance transfer programs are unlikely to improve much anytime soon. While the credit crisis has reduced balance transfer arbitrage activity, those who seek out 0% credit card balance transfers for financial assistance are still likely to find what they need

Before transferring any credit card balances, even when there are no balance transfer fees, make sure you understand the introductory APR period. Once the period has ended a new higher rate will be charged on the remaining balance. This rate is typically very high, so read the fine print. Look for a card that offers 12 months at a 0% APR with no balance transfer fees, then focus on paying the balance within the 12 month period.