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Digital News Report – Balance transfer credit cards offer an easy way for borrowers to consolidate their debt and save money. Many card companies and banks will offer attractive terms to customers of their competitors.
The Capital One® Platinum Prestige Credit Card offers zero percent interest terms on purchases and transfers until December 2011. That means customers who made purchases on their credit cards can transfer the balance to Capitol One converting their high-interest obligations to no-interest obligations until December.
Besides desirable terms, there are some other advantages provided by this card. There is no-annual fee, free 24-hour roadside assistance and travel accident insurance. After the initial offer period the interest rate is variable between 10.9% and 18.9%.
Credit card usage may be lower overall, but there was a five percent increase in holiday sales over last year, according to a survey published by MasterCard. Much of that increase was spent using credit cards.
There are some advantages provided to credit card users. Many companies offer cash-back or other incentives.
Bank of America, Chase, Citibank and Discover all offer balance transfer credit cards. Their goal is to acquire new long-term customers.
The Citi® Platinum Select® MasterCard® has an introductory zero percent APR period for purchase of 12 months and balance transfers of 24 months. After the free period the rate is variable from 11.99% to 19.99%.
In these tough economic times every dollar saved is important.
By Tina Brown