Zero APR Balance Transfer Credit Cards

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Credit Card to Establishing Credit
One of the first steps in establishing a good credit history is obtaining a credit card. If you are in the process of building your credit history or are repairing your credit report, a credit card can really help. While you will hear most financial advisors warn of the dangers of credit cards, this may be the one time you are told to get one.

Your credit report is essential to being ab... Read credit cards article



Chase Credit Cards For Students
Chase Bank USA offers a number of student credit cards with various types of benefits and incentives. If you are a student of any college or university, you can take the advantage of it. You will get cash back offers with every purchase you make with the student credit card and even while paying your college fees and buying books.

Chase Student Flexible Rewards Visa Card earns you point... Read credit cards article



Zero APR Balance Transfer Credit Cards
There is a lot of interest in 0% APR Balance Transfer credit cards because of the tremendous savings possibilities they offer. You don't have to be an MIT graduate to understand that the 20% you are paying to a high-interest credit card on a balance of $ 10,000.00 is two grand; and if the interest on your credit card was 0% APR, that money would stay in your pocket. It turns out, however, that not all 0% APR credit cards are the same. Major credit card companies, who are competing fiercely with each other at this moment, use a variety of enhancement programs that combine the idea of 0 % APR Balance Transfers and with other add-on bonuses. Consider the offerings of three of the largest credit card companies, how they are similar in terms of the basics, but are putting a twist on benefits:

The Chase Platinum Credit Card

Chase bank has been in the credit card business for a long time, and this card is their standard offer. It has 0% APR on all purchases and balance transfers, provides free online account access, and does not charge an annual fee. The only question about this card is how long does the 0% APR last; and the answer depends on your credit. If you have excellent credit, Chase will give you 0% APR on purchases and balance transfers for a full year. If your credit is good enough to qualify for the card, but not quite good enough to meet the higher standards, that period of 0% APR drops. Still, the opportunity to transfer balances and make purchases at 0% APR makes Chase a good choice.

The Miles Card from Discover

Another industry heavyweight, Discover, has 0% APR credit cards available for purchases and balance transfers. The Miles Card, however, adds the benefit of accumulating airline miles to help consumers choose Discover over everyone else. The company touts their 0% APR credit card for its twelve month duration and the ability to include balance transfers at no interest. The real inducement, however, is the 12,000 mile sign-up bonus and one-mile-for-one-dollar point award. Just to make the deal a little sweeter; there are no blackout dates for these miles and you can fly any airline at any time. You have to have good credit to get one, but the Miles Card from Discover may be a good way to save interest on purchases and balance transfers while building up miles for the next vacation.

Citi Diamond Preferred Rewards Card

This 0% APR credit card from Citi not only gives you 12 months of interest-free funds and no balance transfer charges, it also has a points reward system that gives you redeemable points based on purchases. The program works by offering five reward points for every dollar spent on purchases made at supermarkets, drugstores and gas stations; all other purchases get one point per dollar. You get 5,000 bonus points when you get your card, which can be redeemed for a $ 50.00 gift card after your first purchase. Like the Discover card, you will need good credit to get this 0% APR card, but the initial bonus points and rapid accumulation of reward points for purchases of the basic necessities of life could make this just the card for you.

These days, the question is no longer about finding a 0% APR credit card or a 0% Balance Transfer card; the issue is how would you like that card - with extra months of interest-free money, airline miles, or other rewards such as incentive point programs? Any person who is currently carrying balances on high-interest credit cards should shop online and take a look at the 0% APR and 0% Balance Transfer credit cards from Chase, Discover, Citi and other companies. You may just find the right card for you.

Copyright Ed Vegliante. Free online reprints of this article are allowed provided the resource box remains intact with a live link back to http://www.credit-card-surplus.com .

Please click here to find 0% APR Balance Transfer Credit Cards.

Ed Vegliante runs the website http://www.Credit-Card-Surplus.com , a well organized credit card directory enabling the consumer to compare and apply for a variety of credit card offers. View more Credit Card Articles.

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Credit Card Consumer And The Regulator

There were more bankruptcies in 2005 compared with the year before. Non-performing loans for consumer credit like housing, cars and credit cards, have risen in the past five years. With rising consumer credit issues, should regulators ask banks to rein in consumer credit?

Lending and borrowing activities are as old as society. On one hand, if access to credit is a basic right, can you deny it? Because setting a threshold means denying credit to someone. On the contrary, when there is an easy credit, more people will land themselves in trouble.

If loose credit is being blamed for debt problems, setting higher thresholds for access, especially to credit cards, has been suggested. The number of bankruptcies due to credit cards is still relatively small, but of concern is the proportion belonging to youths. They are most vulnerable, as they tend to spend and worry about the pain later. Thus, a higher salary limit should be imposed.

Moreover, even a single person who is earning a reasonable basic salary a month will find it hard to make ends meet because the cost of living in urban areas has gone up significantly. How can he meet the repayment on a credit card? With all this emphasis on credit, savings have been left out of the equation.

However, higher income requirements alone won't solve the problem of poor credit management. People who borrow irresponsibly should be denied credit, but what is the best way to determine responsible or irresponsible borrowing? It has nothing to do with income.

There is a suggestion of increasing in the minimum credit card payments. If you borrow $1,000 and pay 5%, it will take you 20 months to pay it off. If you pay 15% every month, it can be paid off in six months. There is also a suggestion of setting up a debt-counseling agency by the government to provide consumers with financial counseling and to negotiate with lenders on behalf of debtors.

Raising the bar so that only worthy individuals get credit is one thing while wise management of credit once it is obtained is another matter.

Competition among banks serves to improve loan product features for consumers, resulting in benefits like annual fee waivers for credit cards, lower interest rates for balance transfers and 0% interest installment schemes. However, does competitiveness encourage bad debt?

Although there are consumer education programs and credit card statements carry an educational message about how much interest can accumulate if you pay less than the full amount, enclosed with that statement are leaflets giving incentives for consumers to carry balances on their cards. Signals are often inconsistent for the consumer.

There should be some form of ethical marketing regulations but who is going to enforce them? Advertising control always poses challenges because of the argument for freedom of speech and the right to know. However, the regulator can play a more proactive role. There are now new advertising techniques to appeal to the individual's emotions. There should be some form of restraint in advertising, whether achieved by the regulator, self-regulation or co-regulation in some form.

We can't blame the banks for marketing their products. So, the ball is back in the consumer's court; they have to educate themselves. It's the banks' right to market and to make money, but it's the consumers' responsibility to educate themselves.

Michael Russell

Your Independent guide to Credit Cards




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