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Digital News Report – You may have contacted your credit card company asking for a lower interest on your credit card, and they have declined your request. The next step may be for you to look for a low rate balance transfer credit card as a way to pay off your debts sooner. This isn’t the only option, but if you have a relatively small amount of credit card debt you may be able to pay off the bill quicker and save money in the process by finding a credit card offer that you can transfer your balance too.
There are two types of credit card balance transfer offers to watch for. There is the limited time often times with a 0 percent interest credit card transfer for 6 months to a year. But after the time is up the interest rate readjusts to a much higher rate, and if you are not careful you could pay more interest than you did before you transferred your credit card balance after the promotional time is expired.
Another kind of credit card transfer option to look for is one that offers a low rate interest balance transfer until the debt is paid off. This is the safest bet for most individuals. You can find 3.9 percent – 5.9 percent offers that will have this offer. The interest rate is usually lower that the regular credit card and if you make your payment each month on time you will save money from having the lower interest rate payments.
To find the low rate balance transfer credit card offer you can either contact each credit card company by telephone, or you can shop around for the best interest offer online. You also should be aware of the balance transfer fees as they vary from offer to offer.
By Victoria Brown