Provides Single Resource on Balance Transfer Credit Cards

March 08, 2006 (PRLEAP.COM) Business News
With credit card debt balances nearing record highs and consumers everywhere seeking refuge from high interest credit card balances, is pleased to announce a single comprehensive resource ( ) on credit card balance transfers.

Increasingly, banks and card issuers are aggressively pursuing customers by employing attractive introductory offers that are seemingly irresistible to consumers. In a typical scenario, card issuer's will offer to transfer a qualifying consumer's high interest credit card balance to one of its own balance transfer credit cards with a limited time 0% introductory APR offer.

Although this often sounds like a great deal for the consumer, saving hundreds or even thousands of dollars in interest charges, has identified several key factors to consider, including transaction fees and fluctuating interest rates that occasionally end up costing consumers more than they anticipate. To prevent unexpected charges and fees, advises consumers on what to look for when searching for an advantageous balance transfer credit card or balance transfer program.

Of particular note, the website advises consumers to be wary of introductory percentage rates. While such rates are often attractive and are quick to entice new customers to switch credit card companies, consumers need to pay attention to the expiration dates associated with such offers. cautions consumers to know the introductory interest rate, its expiration date, and the subsequent annual percentage rate (APR) prior to transferring an existing balance from one credit card to a new one.

Additionally, advises consumers to pay particular attention to the interest rate that applies to each portion of their card balances. The card issuer will often assign different APR's to the initial balance transfer versus ongoing purchases.

The website highly recommends a comprehensive analysis to identify all fees associated with the new credit card company, including annual fees, transaction fees, late fees, over limit fees, and any applicable balance transfer fees. A thorough analysis of all such charges will help consumers to make informed decisions about credit card balance transfers and provides the basis for such an analysis.

Based in Los Angeles, California focuses its efforts on providing customers with a comprehensive resource for credit card information online. Offering detailed information about a variety of credit card-related topics, consumers use to compare companies, rates, fees and card types. For more information, visit the company's Web site at