Specialty gold credit card

If you come to find that you’re carrying too much debt spread across more than one credit card, it’s important to implement a plan for paying down each balance in the near future (or as quickly as possible).

While there are many strategies for doing so, the use of a balance transfer credit card should be at the top of your list.

With this, you can move all (or most) your debt to one credit card, thus saving you money on finance charges while also getting better organized.

There are hundreds of balance transfer credit card offers to consider, but some will suit your wants and needs better than others.

The primary goal of any balance transfer credit card is to provide the opportunity to consolidate your debt, all while avoiding interest payments for a predetermined period of time (such as 12 to 18 months).

In addition to “traditional” balance transfer credit cards that do exactly what you expect, there are also “specialty” offers that deserve your attention. These include:

  • No transfer fee balance transfer credit card. This is exactly what it sounds like: you are never charged a transfer fee, which is typically somewhere in the three to five percent range. Depending on the balance you’re transferring, this type of card could save you hundreds or thousands of dollars.
  • Business balance transfer credit card. As the name implies, this is intended for business owners, not individual consumers. This type of offer can help you better manage your business debt, while also saving money on finance charges. Both of which could help your company succeed.
  • Reward program balance transfer credit card. Just because you’re opting for a balance transfer offer doesn’t mean you have to miss out on high level features, such as the ability to earn points for every dollar you spend.

By learning more about the pros and cons of these specialty balance transfer credit cards, you can make an informed decision as to which type of offer is right for you.

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