Mr Credit Card Review
Supported Review:
I was recently asked took a look at the blog of askmrcreditcard.com. Specifically a post entitled: best 0% balance transfer credit card depends on balance transfer fees.
The blog entry made me aware of the new tactic of credit card companies of removing the maximum dollar amount you would have to pay on balance transfers from other credit cards. The majority of Credit Card Companies shave a fixed rate of 3% or the like. It used to be common practice to have a limit of $75 on most balance transfers, but some companies have raised this exponentially or removed the cap altogether.
CitiBank appears to be the sneakiest of all; almost all of their credit card offers have a different cap or maximum and different rates as well. One doesn’t even have a maximum at all! That means that if you transferred a balance of $10,000 you would be paying 3% in fees for a total of $300 instead of the usual $75 or less.
There seem to be huge disparities between different Credit card companies as well. HSBC has a completely different setup than Discover or Chase.
The best deal, in AskMrCreditCard’s opinion, is the Advanta Platinum BusinessCard with Rewards. It has the longest introductory rate of 15 months and the best balance transfer rate as well.
I hope this review of the article will help many people deal more efficiently with their personal finances.
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