Credit Card Balance Transfer Review    Independent Financial Specialists

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Balance Transfer Review.com is designed to provide independent specialist advice on how to save money on your credit card balance transfer and to provide information on some of the latest 0 balance transfer credit card deals available. Browse the links and articles below to discover useful tips and advice. Do You Know How Your Credit Card Balance Transfer Actually Works? If you are not familiar with exactly how your balance transfer actually operates you may end up losing out for a variety of reasons. Here are a couple of reasons why:  One of the number one golden rules after making a credit card balance transfers not to go out and immediately make new purchases on the card. Usually the credit card companies will charge a very high rate of interest. sometime customers make new purchases on the card in the belief that somehow it will be charged to them at the same rate as the actual balance transfer. Of course the credit card balance transfer may have been made for free or just for a small fee so the company hasn't actually made any money from you yet. This is why they will consider any new purchases to not be classed under the interest rate even on a 0 balance transfer credit card. The second catch is also the order of repayment. The newly incurred debt on the card which is being charged the higher rate of interest cannot actually be repaid until the original credit card balance transfer has been paid off. In this way many people seem to get caught out. And of course after the time whereby the balance transfer ceases to have no interest charge on it you will then be hit by this additional level of interest. The underlying message here is that if you are going to transfer a balance make sure you are fully aware of all the terms and conditions. if you know you are going to need to use the card after you have transferred the balance be aware that you will be charge a higher rate of interest on the new purchases even if it is a 0 balance transfer credit card.