What You Need To Know When Transferring Credit Card Balances

Credit card companies like to lure in new customers with impressive-sounding balance transfer officers, but they don’t just do that to be nice. There are usually fine-print catches associated with the deals, and they’ll bite you if you overlook them.

Credit.com offers a checklists of information you’ll need before you head in to a balance transfer.

Knowing your credit score in advance will give you an idea of whether you’ll qualify for the best offer the bank has. If your score is below 700, you may find it tough to secure a zero-interest transfer. If you do qualify for zero interest, you’ll want to confirm how long the period lasts. Finally, see what the card’s interest rate is on new purchases, because special balance transfer interest rates usually only apply to the original balance.

8 Tips for a Successful Credit Card Balance Transfer [Credit.com] (Thanks, Natalia!)