Utilizing Balance Transfer Credit Cards As A Debt Elimination Option

Throughout the past several years, the United States has faced a financial recession along with the rest of the world. This has unfortunately lead many Americans down a path to charge card debt. Looking for ways to relieve their credit card debts, many Americans feel as if they either need to deal with the debt or, deal with a third party corporation and the fees that come along with it! But, what if I told you that wasn’t the case. What if I told you that many consumers qualify for a debt relief option that requires no third party debt help fee? It’s true! There is one way that most people simply don’t think about.

Throughout the tough financial times that many people have faced, the vast majority of them have somehow managed to get through it! Every month payments are made and they have made the conscious effort to make them on time. Therefore, these consumers, while in debt, usually have pretty good credit scores. As with anyone with good credit scores, many of these Americans will qualify for another charge card!

Now, I know what you and most other people are probably thinking right now, “I got into this mess by using credit card accounts, why would I want to use another?”. Well, because due to overwhelming competition in the charge card industry, banks are doing more these days to win Americans over than ever before! These days, people have the option of using what is called balance transfer credit card accounts!

Balance transfer credit card accounts are a specialty type of credit card designed for people who no longer want to work with their credit card account provider. As a perk to get Americans to switch over, lenders have incorporated quite a bit of savings into these specialty credit card accounts! In most cases, balance transfer charge cards will have extremely low promotional interest rates. As a matter of fact, I am sure that people with good credit scores can find a balance transfer credit card that they will qualify for with a zero percent promotional annual percentage rate!

Promotional APRs were created to really get the attention of people. However, Americans who are dealing with high interest rate credit card account debt can take advantage of these low promotional interest rates for debt relief. Promotional interest rates will last from the date that people activate their charge card to the end of the promotional period. In most cases, Americans will enjoy promotional periods that last anywhere from 6 to 18 months!

After the promotional annual percentage rate expires on balance transfer credit cards, they still tend to have lower APRs on them than what people are already paying on their credit cards! In many cases, this APR reduction provides Americans lower payments and the credit card account debt relief they were looking for all along!

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Author: LeeRodriguez

This author has published 28 articles so far. More info about the author is coming soon.