Balance transfer is a facility offered by all the credit card issuing companies to cardholders which enables them to transfer the existing outstanding or debt of one credit card to another one that is less used or even new.The credit limit of the new card or less used card on which you want to transfer the balance amount reduces proportionately to the balance transfer amount. Say the credit limit of your card is Rs 25,000 and you have opted for a balance transfer of Rs 10,000, then the credit limit on your original card will be reduced to Rs 15,000.But here too you must remember that your balance transfer amount should not exceed 80 per cent of your credit limit. That is, if your credit limit is Rs 10,000 then the maximum balance transfer you can have will 80 per cent of this amount which is equal to Rs 8,000.

Credit card may seem like the last smart thing to do when faced with mounting credit card debt. In one case, however, this may make sense and wind up saving you a lot of money as well. This special exception is a credit card balance transfer, and is oftentimes available to anyone with a mailbox and social security number.Credit cards are a big business today, with many companies making a fortune off finance charges. The average annual percentage rate is about 16% on most credit cards. With that kind of interest, it's tough to pay down a credit card, because it is consistently charging interest and adding to the principle. Even hot stocks are pressed to grow at 16% a year. Luckily, companies are so anxious for your business the balance transfer was invented.In an effort to lure consumers to their credit card, many companies offer free balance transfers from your old credit card. Once the money is safely owed to the new company, they will often provide a grace period where they charge far less on the transferred balance. Finding two, one, or even zero percent interest is possible. Oftentimes this introductory rate lasts for around six months to a year after the balance transfer takes place.

Today many consumers are faced with debt that came from loose credit lending practices. Thousands now face building credit card debt that is becoming increasingly difficult to manage. If you find that you’re one of those people, a balance transfer credit card could be part of the solution to get you financially back on track.Balance transfer credit cards offer consumers the opportunity to consolidate debt into one payment for easier management. This also has the added benefit of lower interest rates to save you money and make paying off your debt much easier.Many credit card providers offer fixed interest rates as low as 4.99% for the life of the balance transfer as well as 0% introductory rates on balance transfer for 6-12 months. Being able to keep interest from accumulating is key to paying off debt and might be just what you need to make it possible.
Balance transfer credit card members also receive the same benefits and rewards shared by other credit card holders. These cards very commonly come with no annual fees, cash back rewards, travel points and more. They also have customer services bonuses of fraud protection, online account management and budgeting assistance to help you understand finances better and create a budget that you can stick to. As long as you don’t make too many new purchases on the card and don’t default the benefits offered by balance transfer cards give you a jumpstart to paying off debt.

We have provided a variety of tips, advice and free information to help guide you in your search to find the top balance transfer card offers available. When you search and compare cards you should start by asking the following questions:

	When will the intro rate on the balance transfers credit card offers expire?
	Does an annual fee apply for the card?
	Will the introductory rate apply to the initial transfer only? Or will it apply to all transfers made over the introductory period?
	Will the introductory rate apply to purchases as well?
	What is the credit card balance transfer interest rate after the introductory rate ends?
	Are there any applicable transaction fees?

Some credit card issuers will charge expensive transaction fees on balance transfers. Be sure to investigate any applicable fees upfront. You don't want to get surprised with a 3% or 4% transaction fee after the fact. Keep in mind that balance transfer credit card offers are most suitable for individuals with good to excellent credit. Not everyone will qualify for the low "teaser" rate being offered on the card. Be sure to know what introductory rate will apply before you make the initial transfer. So, be sure to thoroughly read the terms and conditions of each specific card offer that you are considering.
Credit cards with balance transfer features tend to pop up in abundance at the start of every new year. Balance transfer offers and low interest rate credit cards are heavily promoted at this time as consumers struggle to pay back debts racked up during the festive season. In order to catch up on repayments, applying for a credit card with a balance transfer facility can be of genuine benefit.