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reliable information on credit cards - online investing - personal loans - owning and operating your own home business. indepth information from professionals in their field. dont forget to check out our links to the best sources on the internet, these days information and research is critical to making the best educated decision to suit your needs.

Sunday, August 13, 2006

How to get the best Credit Card Deals!



So you took advantage of one of those credit repair credit cards with higher interest rates to help you repair your credit?

Or perhaps you missed a payment or two a while back and are now saddled with a fairly large balance on a high interest credit card. Maybe it was your first credit card, and you're still paying the interest rate offered to those with no status credit. No matter what the reason, you've got a credit card balance on which you're paying interest rates higher than average, and you'd like to cut those monthly payments. Welcome to the world of balance transfer credit cards.

Balance transfer credit cards are credit cards that offer a special interest rate on accounts transferred from another credit card. Essentially, when you take advantage of balance transfer credit cards, you're borrowing money on your new credit card to pay off the balance on your old (higher interest) credit card, then repaying the new credit card company at a lower rate of interest. 0% balance transfer rates have been a popular incentive for credit card companies to attract business for the past several years.

Lately, though, many credit card companies have found that offering 0% balance transfers is a losing proposition for them as customers play credit card shuffle, moving their account balances from one card to another whenever the 0% interest rate ends. In order to combat that practice, credit card companies are getting more creative with their balance transfer credit cards. That's why it's important to compare balance transfer credit cards to be sure you're getting the best possible deal - or at least one that actually will save you money in the long run.

Here are some things to watch for when comparing balance transfer credit cards:

How long does the introductory balance transfer rate last?

The 0% balance transfer interest rate is usually an introductory rate. As long as you pay off the entire balance within the introductory period - usually six to nine months - you pay no interest at all on the amount that you've transferred.

How much is the balance transfer fee?

Often, there's a charge for transferring your balance from one card to another. Be sure to include that fee in your costs when you compare balance transfer credit cards.

What is the interest rate AFTER the introductory period ends?

The introductory rate will end eventually. How much will you be paying in interest after it ends? Will that apply to the entire balance, or just the amount left on your transferred balance?

Are there other restrictions?

The newer balance transfer credit cards offer other incentives than 0% interest rates on your transferred balance, or may include restrictions to how long the balance must remain on the card. Many of the new balance transfer credit cards offer an interest free second year, or a one-month free payment rather than a 0% transfer fee as a way to get around the credit card balance shufflers. When you compare balance transfer credit cards, be sure to make a note of any restrictions on the balance transfer offers.

So you can see it's important to compare balance transfer credit cards to check the best deal. At www.moneyeverything.com/cards you'll find all the latest no interest balance transfer credit cards, along with details so that you can compare balance transfer credit cards to be sure you're getting a deal that will save you money.

-->by: Jon Francis

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Advantages of Using Credit Cards Instead of Cash



There are many evils associated with credit cards, but there are benefits that are hard to ignore. One benefit is having the credit card company act in your behalf to recover funds from a disputed transaction. Under the Fair Credit Billing Act the credit card company has to investigate the dispute and either take the charge off your bill or explain why it is correct. Even better, you don't have to pay the portion of the credit-card bill or related interest charges while the dispute is being investigated.

The types of blling disputes/errors covered by the Fair Credit Billing Act are:

Charges that list the wrong date or amount.
Charges for goods and services you didn't accept or weren't delivered as agreed.
Math errors.
Failure to post payments and other credits, such as returns.
Unauthorized charges.

Before you dispute any of issues you must first contact the retailer and try to settle the dispute. If they ignore you, or the dispute is not settled then contact the credit card company. Usually you need to have your dispute in writing to the credit card company. The address for billing disputes is different then the address to send payments. The billing dispute address can be found on the back of your monthly statement. If it cannot be found, call the credit card company's customer service for the billing dispute address. You usually only have a certain number of days to dispute the billing error so make sure you mail in your dispute before the deadline.

If contacting the credit card company doesn't resolve the dispute, you may contact the Office of the Comptroller of the Currency's Customer Assistance Group. Their website is www.occ.treas.gov/customer.htm and phone number is 800-613-6743.

ABOUT THE AUTHOR

Christine Breen is the owner of www.1Stop-Creditcards.com a site helping consumers find a better credit card.

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