Balance Transfer Credit Cards
Balance transfer credit cards, along with being able to make purchases to be paid back over time, allows for the balances of other credit cards to be put onto one single card. This allows the cardholder to make one monthly payment to their balance rather than multiple payments to multiple companies. Being able to pay down their balance in this manner can often save money on interest. These types of cards are generally reserved for applicants with good or excellent credit, and can also carry extra fees for balance transfers – most notably when the balance is transferred from a competitor’s card. As with any credit card, it is important to research and compare offers.