Those starting out on the card scene need to know all about how to apply credit card but for those with mounting card debt, knowing about balance transfer will help instead. This is an effective way to deal with increasing credits and get back to normal for the time being. With balance transfer, it is possible to restore a clean slate financially. In order to make the most of such arrangement opt for credit card transfers involving low transfer fee.
What is a low transfer fee?
You can get credit card India that allows users to transfer their balances to the new cards at a low fee. This can be in the range of 1.5% – 2%. However, this is not going to happen if both the cards are from the same provider. This signifies that for a set period you do not have to pay any interest on the transferred balance. However, in low fee transfer cards the 0% period may be shorter than normal. Sometimes they may also start charging interest at the very outset. Know this before any such credit card application India.
In spite of there is balance transfers, with a low transfer fee is a good idea. One can always gain much in such deals instead of those where introductory 0% period is longer but at a steeper fee. The latter situation is profitable for those having larger debts, requiring longer periods for payback.
Options for users
In keeping with the needs of the users everywhere, a number of companies are nowadays offering low balance transfer fee cards. They surely increase the choices for those interested. You can consider this factor during credit card application India. Base your choices on the period of 0% introductory offer, terms and condition of balance transfer beside the fee, your credit card debt interest rate, and other advantages. You can get the best credit card offers from various banks in India.
What are the advantages?
There is no doubt regarding the fact that a low balance transfer fee packs myriad advantages for credit card users who are grappling with mounting debt. Once you find such a provider, do not waste time and know all about how to apply credit card of such type. The most obvious advantage of going for such options is that you need to pay less for transferring your debt. It can prove to be beneficial for you when the transfer involves switching of large credits. Fee on such cards is on a percentage basis.
Besides, the interest rates charged on the new card will be quite low for different periods compared to an APR of, say, 17% or thereabouts. So plough all the extra available monies for reducing capital debt especially for 0% introductory phase. Later on, however, it is in your interests to pay off balances as quickly as possible.
Get credit card India and while you are at it, do not forget to opt for low balance transfer fee for getting added benefits.