Credit card surfing for low rate credit cards and especially low rate balance transfer credit cards may be once again picking up steam. Credit cards surfers engage in the activity of transferring their existing balances to a new credit card with a low introductory credit card rate and extend the amount of time until they have to make interest payments on their debt.
The activity of repeated credit card balance transfers on low rate credit cards offers the consumer an opportunity to reduce their credit card debt at a little to no cost for an extended period of time as well as offers some simple payment relief by bringing down any interest charges that may be accruing on a credit card balance that either is at a higher interest rate or was on an introductory credit card rate that has since expired.
These offers were common during the times of easy credit that was transpired prior to the great recession. Prior to the recession and the subsequent credit freeze and delinquent bank loans and credit cards that came with it, banks were more eager to compete for new customers. One method of getting attention and acquiring new credit card accounts was by offering low introductory credit card rates and balance transfer rates. Now these aggressive offers are once again resurfacing with very competitive terms and interest rates.
The best credit card rates on balance transfer offers are once again as low as zero percent for terms that can be over a year in length. The landscape may be altered somewhat since the credit card lending standards for the ultra low rate offers are measurably higher this time around.
For those consumers interested in using these promotions for the maximum benefit, it is important to pay down that balance on the account after the balance transfer is approved as robustly as possible. In a perfect world, the balance will be completely paid off much without incurring any interest fees at all. If there is a balance remaining after the introductory period ends, it may be possible to open another 0% balance transfer credit card with another credit card company and keep surfing on zero interest loans.
A current example of the aggressive balance transfer credit card offers is the Citi® Platinum Select® MasterCard. The Citi® Platinum Select® MasterCard offers the top tier applicants an introductory credit card rate on balance transfers of zero percent for 18 months. Slate from Chase Credit Cards offers a zero percent balance transfer rate that runs for a period of 12 months. The Discover More Card offers balance transfers at 0% for 12 months after the first transaction posts to a new account under the current offer.
The information provided on the listed low rate balance transfers credit card offers is believed to be accurate at the time of this publication but is not guaranteed. Review the terms and conditions of the credit card before applying for a new credit card.
Bestcreditcardrates.com provides information on credit card promotions, credit card offers and tools and resources to help consumers select the best credit card with the best credit card rate.
Tags: 0% balance transfer, balance transfer credit cards, best credit card, best credit card rates, Chase Credit Cards, credit card offers, credit card rate, introductory credit card rate, low rate balance transfer, new credit card
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