What Are No-Interest Credit Card Balance Transfers?

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No-interest credit card balance transfers are generally limited-time offers designed by credit card companies to compete for customers. Make sure no-interest credit card offers come from valid companies with advice from a registered financial consultant in this free video on credit.

Part of the Video Series: Money Management & Personal Finance
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Video Transcript

This is financial adviser Patrick Munro talking about what are no interest credit card balance transfers? Basically, credit cards compete against each other for your money, and zero percent interest credit card offers come to you from time to time. Be aware that these are limited time offers. The zero percent will expire after three, four, or five or six months. And it allows you to pay down your credit card balances without interest for that period of time. However, the new credit card company will reset the rate to the current prevailing conditions at that time. So it's important to be constantly aware of the different credit card offers that do come through the system, and to apply for the ones that are right for you. Moreover, you can keep your credit card balances low and, as such, you will be able to have the lowest amount of credit card balances that are out there. This is better for you, as an individual, going forward. Zero percent interest credit card offers do come from time to time. Make sure they come from a valid source. Always be aware of hackers or someone wanting to steal your identity. This is Patrick Munro talking about what are zero percent interest credit card offers?


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