A credit card balance transfer basically is moving the debt from one particular card to another credit card. It is regularly an excellent technique to set aside money for savings. Various credit card companies offer an interest free period on balance transfers to new clients. This is the common promotions that card issuer gives to be able to attract more new customers.

Clients can merge their payables by transferring the balance from more than one card or be able to get a new credit card having lower interest rate. Switching to a credit card that does have 0% balance transfer can provide a huge savings for the card holder for a period of 16 months.

Best Balance Transfer Credit Cards Canada: http://www.cma1.ca/678

after the 10 month period provided by the MBNA Platinum Plus Credit Card, the interest will be at 19.75% which very high and could be risky on the part of the credit card holder. if ever the card holder is not able to pay off a bill that is due for settlement, the interest that will be added would be too much. and if this happens frequently then the card user will not be able to pay off completely the balance.

hi..

that card is perfect for you as it offers a very low interest rate for balance transfer at 1.99%. this MBNA Platinum Plus Credit Card would give you less interest charges if you still can't pay off completely your debt. but you must keep in mind that it will only last for 10 months. after which, the rate would not be the same.

you must find a way that you can fully pay off your balance while the offer is still available. this is the only card that do have such very low interest rate. the next best card that is available just in case you can get the MBNA Platinum Plus is the Capital One SmartLine which also have a low rate at 5.99% but this will last for 3 years. however, you must pay your bill on time to prevent from losing the low rate.

here is the detailed benefits of the credit card:

No Annual Fee which means less responsibility on payments.
• 19.8% interest on Cash Advances is not good rate for this kind of card service.
• 5.99% on Purchases and Balance transfers guaranteed for 3 years. This must require the card holder to sustain agreement status. The interest rate switches to a variable rate of Prime +3.75% on purchases and balance transfers after 3 years of being a card user for the company.
• Balance transfers don’t entail any fee or charges.

hello,

i have a debt amount to $5700 coming from my purchases of appliances and some gadgets for my newly constructed house but lately, im encountering problems paying off my billings statements for some reasons. huge interest are added in my account after paying just the minimum amount that i am able to pay every month. my credit card do have a 11.5% rate. would it be best for me to transfer my balance to a low interest card that would charges me lower on interest compared with my current card?

i have seen the MBNA Platinum Plus Credit Card that is offering 1.99% for 10 months. is this card excellent to use considering my situation? or can anyone advice me an excellent card?

i want to pay off completely my debts because i don't what to get troubled in the future. i am afraid that their will be a point that the card company will come after me.

the best way to use a balance transfer credit card is to transfer balances from high interest credit cards to low interest credit cards.

for example, your high interest credit cards have an interest rate of 18.99%. Your low interest credit card such as the capital one SmartLine has an interest rate of 5.99. So here you have it interest savings of 13% just by switching to a lower interest credit card. And that's with the balance transfer credit cards are meant for, to transfer balancesfrom one credit card to another.

the balance transfer Credit card wiki page is located here:
/archives/2010/4/best+balance+transfer+credit+cards+canada.html

hi monty..

im confused about balance transfer credit cards.. what is the best way to fully utilize the card? transfer my balance from a credit card having a high interest to a low interest credit card or vice versa?

give some advice please..

thanks..

Best Balance Transfer Credit Cards Canada

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