Credit Card Articles

1) Balance Transfer APR: If you are applying for new card to transfer the balance, look for the cards that offer 0 APR on both balance transfers and purchases. This offer gives the flexibility to transfer the balances and also to make the purchases with 0 APR within the offer period. Usually look for the cards that offer 0 or low APR for balance transfers, check cash advances and direct deposits. If you can’t find or not qualified for a card that gives such an offer, then try to find a card which offers the lowest APR for balance transfer, if your primary purpose of applying for such a card is only to transfer the balance. If you are qualified or get the approval for a card which offers the low APR only for the balance transfer, then make sure that you transfer only the balances from the other higher APR credit cards and not making any purchases using the specific card. Because if you make any purchase using this card, you will be charged the regular APR for the purchases and this regular APR will be applied till you pay off your transferred balances with low APR amount in full. The reason why the purchase charges can’t be paid until you pay off the transferred balance amount is, usually credit card companies will apply all the payments you make to the lowest APR balances first. Since the regular purchase APR rate is much higher than the low balance transfer APR offered, whatever payment you make will be applied only to the amount that you transferred using the low …
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