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What Is a Balance Transfer Credit Card
12 Jul 2018

What Is a Balance Transfer Credit Card

Do you want to be able to have peace of mind when it comes to your financial situation? Balance transfer credit cards can help you manage your credit debt without worry.

What is a balance transfer credit card?

Balance transfer credit cards are credit cards that can help you, the consumer, move your balances from other cards onto them. There are a few options when considering balance transfer credit cards that you want to take into consideration when choosing one.

These considerations are:

  • The cost of the balance transfer. Some offer a reduced cost when transferring balances, others are percentage based.
  • The different interest rates are something also to consider. Some offer short periods of no interest or lower interest at the first transfer.

Balance transfer credit cards offer a wide range of benefit that can make them very appealing to a consumer such as yourself. However, with the various options available, you want to be sure that you are only getting the credit option that suits your needs best. 

When should you consider getting a balance transfer credit card?

You only want a balance transfer when it will help you keep your costs down. This can come in a variety of ways. What is a balance transfer credit card? Mainly, the balance transfer credit card helps you by taking the balance of higher interest credit card and transferring it onto a lower interest one and allowing you to keep more money in your pocket and less going to interest charges. This can work for more than one card and allow you take multiple credit cards and put it on one making your debt much more manageable. 

Also, once transferring your balances on the credit card, you can resolve to have it paid off before the bonus period is over and this will help you put more money on the principle and less going to interest charges. By doing this your payments can be made with the peace of mind that your money is going to pay it off and not going to the issuer. 

What is a balance transfer credit card and what are the options? 

This can be a daunting process. You can do the research and look at all the options available out there but this can be a risk. It can be a risk because:

  • You don’t know all the lenders out there. 
  • You might not be clear on the terms and conditions. 
  • You can get buried in the sheer velocity of information that is out there on the internet. 

Here are Bonsai Finance we can help you through the process and make it as painless as possible. We can do this by helping you decipher terms and conditions, we can help you find out what your options are. We can even find a lender that you didn’t know existed. Our team is dedicated to helping you get what you need when you need it as painlessly as possible. 

Other ways our team at Bonsai Finance can help

  • We can help you understand clearly each available option. 
  • We look for only reputable lenders that you can count on. 
  • You will have peace of mind knowing that the grunt work wasn’t yours to have to wade through. 
  • We will help you make an informed decision with a clear path as to what the expectations are. 
  • You will learn exactly what is a balance transfer credit card and how to use it effectively. 

When looking at your options you want to be sure that you have a clear understanding to what you are looking for. What is a balance transfer credit card? That is something we can help answer for you.