Sometimes, the credit card issuer will apply your payments to the balance you transfer from other credit cards, which is subject to the low rate offer, while new purchases which may accrue interest at a higher rate will remain untouched by your payments.

Action date. The offer from the credit card company may specify the latest day for you to take advantage of the offer.

However, as attractive as such offers may seem, it would not hurt to thoroughly investigate the finer details of the credit card terms. This assumes that you will not switch to new low-rate credit cards. You need to know this rate after the promotion period phases out, to be more realistic in your estimate of savings.9%; and over $5,000, the interest is 6. Just double check to make sure; read the fine print carefully.9%. There could be transfer fee schedules based on the amount transferred, which could be something like: a flat minimum fee for any amount; a 2% fee on the amount transferred; or, a maximum fee to serve as a ceiling. Despite a possible distaste for it, you should read the credit card terms, the back of the offer, and all of the fine print. Remember, if the bank thinks it can charge credit card fees for something, they will. That can be painfully high. To ensure that you will enjoy these benefits to the maximum, you must do your homework and become credit card smart. The credit card companies, after all, are there to make money, so why should they be giving away their chance to make profits with these 0% apr credit card offers? Being in the business of lending money, credit card issuers earn money by charging interest on credit card balances.

It would be prudent, therefore, to check for hidden costs in these attractive offers before you apply for a credit card.

Allowable amount to transfer.

Late payment condition.

Different rates for different amounts transferred. The longer the time youre in the low rate, the more money ec motors Suppliers you will save. While other considerations should also be weighed, you will agree that if this condition is not true, there is no way you will save money on the new card. This could be present in the credit card offer letter, but then again, it may not. This may not be as obvious, as it is buried in smaller print. You must know what the rate will be when the introductory period is over. The long and the short of interest rate is this: if you want a balance transfer as a means to save money, youll have to make certain that your current rate in your existing credit card is significantly higher than the interest rate in the new offer for credit cards. It would be like getting an interest-free loan every time. If the bank tries to gouge you, you probably will. Now most balance transfer offers do not really impose transfer fees. However, there are cards that offer the low rate for both transfers and new purchases, which is more advantageous to you. Most credit card offers allow transfer balances up to your credit limit, which is great. Hopefully, the bank will raise the rate to a fair level, but if you comparison shop, you will find that some rates can reach close to 20%.

You should study these conditions every time consider new credit cards.9%.

Interest rate after intro period. You need to know how long the low rate will be applied to your credit cards.

Balance transfer fees