What does 0% APR on balance transfers for 6 months mean on credit card applications

  Many times when looking at credit card applications you will see something along the lines of 0% APR on balance transfers for 6 months.  This is one of the ways the companies will try and entice you to switch credit cards.  What they are offering here is to give you the opportunity to transfer the balance of your current credit cards to a new one.  The advantage here is you are going to save the interest charges for 6 months or at least get a discounted APR for a specific length of time.  You will save money for this amount of time.  But before you go filling out those credit card applications you need to look into a few more things.

  Make sure the APR on all new purchases is going to be lower than your existing credit cards.  No sense in filling out new credit card applications if you are going to end up with a higher APR after the 6 months is over and for all your new purchases.  Their whole plan is to get your to get one of their credit cards and have you stop using your current ones.

  If you decide that the best way for you to save money right now and you think you can pay off your new credit cards by the time the intro period is over then filling out one of these credit card applications online is the way to go.  But make sure you mark down on your calendar when the intro period ends so you will know when you are going to start paying the higher rate. 

For more information about other services and products choose from one of the following links:

About the Author:

If you need to give credit for your article do so here...