What is a 0% Balance Transfer?
The 0% balance transfer is a technique used by many credit card companies to get people to switch from one lender to another. These deals can either be advantageous to the consumer, or may have some additional factors that are less attractive and may be buried in a new credit card contract. Benefits of this technique depend on each individual offer, and consumers thinking about switching from one credit card company to another should make sure to read the lengthy fine print contracts that accompany a new credit card offer. In a 0% balance transfer there are a few things that occur. A borrower uses the new credit card immediately to transfer loans from one or more credit cards to the new card. Depending upon amount of credit offered, this is not always possible. If credit limits on the new card are lower than balances owed elsewhere, a borrower may not be able to completely transfer a balance from one card to another. Moreover, if the new card limit will only just cover the balance tran
