A
credit card balance transfer simply means moving your debt from one
card to another. It's often a good way to save money, as some credit
card companies offer an interest free period on balance transfers to
new customers. You can even consolidate your debts by transferring the
balance from more than one card. Or, you might find a lower interest
rate than the one you are currently paying. These cards are usually
commonly none as balance transfer credit cards. Football credit
cards offer this balance transfer facility with an outstanding 12 Months
interest FREE introductory offer.
It's
straightforward. You apply for the new credit card and, if your
application is accepted, you can transfer your existing balance by
giving your new card issuer the details of your old card.
You may
need to transfer your money as soon as you get your new card to be
eligible for the football credit cards 12 months interest FREE introductory offer.
You can do this via the credit cards online banking or via a simple
telephone call. You can
also transfer existing debts from store cards.
When transferring your balance from one
credit card to another, you are usually charged a small fee for
administration.
Some
credit card companies now charge a very high transfer fee so be aware of this
too. Something in the region of 3% should be a reasonable amount.
Some Credit Cards charge interest on the
balance that you have transferred over from another Credit Card.
This interest amount on the balance transfer is usually lower than the
standard interest rate on your Credit Card. Football Credit Cards
come with a 12 months interest FREE period on your balance transfer.
Now matter what amount you transfer from your other Credit Cards, large
or small, you will NOT pay a single penny of interest for the first 12
months.
When comparing the Football Credit Cards
with other Credit Cards, read
the small print. For example, if there is not a 0% rate for purchases,
you will have to pay interest on these at the standard rate. Any
repayments you make will go towards your balance transfer, so you will
pay interest on purchases until you have paid the balance transfer in
full.If you choose a card that offers 0% for the life of the
transferred balance, watch out for a 'minimum monthly spend' clause
used by some card issuers. If you fail to meet this minimum level,
you'll have to pay the typical interest rate on everything.
