Best 12 Month Balance Transfer Credit Card

June 2nd, 2010

There are plenty of good introductory low rate credit card offers available that tend to extent for 6 or 9 months. However, finding the best 12 month balance transfer credit card can offer you a longer period of time to enjoy low rates while you repay your credit card debt.

2.99% p.a. for 12 months

Should You Apply for the Best 12 Month Balance Transfer Credit Card?

The object of the best 12 month balance transfer credit card offers is to give customers an opportunity to reduce the amount they pay in interest. If you look at the amount of interest you pay on your existing credit card balances, you could find that the interest rate is quite high.

You transfer the outstanding balance over to your new credit card and you’ll enjoy far lower rates than you’re paying right now.

By shopping around to find the best 12 month balance transfer credit card you can find, you’ll be paying far less interest. This can reduce your minimum monthly repayment and reduce your interest bill each month.

If you’re diligent about putting your interest savings back towards reducing your balance, you’ll find it’s much easier to pay down your debt than you thought.

What to Look for In the Best 12 Month Balance Transfer Credit Card

The best 12 month balance transfer credit card should offer a low introductory rate for the first 12 months from when you open your account. However, while looking for a good rate can be important, it’s equally vital to be sure you understand what the standard purchase rate will revert to once the introductory period expires.

It is possible to find offers that will revert to a low standard purchase rate, so be sure to do your homework before you apply.

You should also check the annual fee being charged. Obviously, you should look for a credit card with a low annual fee. This will help keep your costs down.

When you think you’ve found the best offer to suit your own debt needs, go ahead and apply. When your new account is opened and ready to go, you can then transfer your old, high-interest balances over to the new card.

With greatly reduced interest rates, you’ll be surprised at how quickly you can regain control of your finances again and begin to reduce your credit card debt once and for all.