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FREQUENTLY ASKED QUESTIONS ABOUT BALANCE TRANSFER SPORTSBOOK CREDIT CARDS

You may be one of those persons who use the “Balance Transfer Credit Cards” and have several unanswered questions on your mind. While the benefits of using the “Balance Transfer Credit Cards” are many, it is best to find the answers for the questions that you have. This article will answer some of the frequently asked questions about the “Balance Transfer Credit Cards”.

1)    How does the “Balance Transfer Credit Cards” save money for me?

These cards can save your hard money because they reduce the total sum of the finance charges that you have to pay each year. This can be well understood by taking an example. Let’s consider that you have transferred $1000 to a card with a low APR from a higher APR card. If your higher APR card charged you twenty percent then you financial charges are $200 for the year, just to maintain a balance of $1000. But, the new account charges you only 8% per year which will cost you only $80. Therefore, you save a $120 for every $1000. Imagine how much you will be able to save with much higher transactions.

There are some “Balance Transfer Credit Cards” that give you 0% APR till your introductory period is over.

Some highly competitive “Balance Transfer Credit Cards” companies continue the 0% till the transferred amount is paid.

2)    “Introductory Rate” – What is it?

This is the APR offered by the “Balance Transfer Credit Cards” companies to attract new customers and is applicable for a short period. Your credit history determines how long you get this introductory offer. It can range from 1 month to 1 year.

3)    What exactly is the “Fixed Rate”?

The “Fixed Rate”, as the name suggests, is the rate which doesn’t change. “Balance Transfer Credit Cards” companies who have a lesser fixed rate will not give you the O% APR however this may benefit you depending on your situation.

4)    “Balance Transfer Credit Cards” are very convenient. Is it true of a myth?

Yes, it is true. The “Balance Transfer Credit Cards” are very convenient as it keeps your entire debt at a single place. This will make is very easy for you to keep track of your expenses and create a practical budget. You can also know when you have to pay your bills.

5)    Can I pay only the minimum amount due for this card?

From the legal perspective you are good by paying the minimum balance. However, this is an extremely dangerous habit which may get you into serious legal trouble in the future if you are not able to make your payments regularly. Therefore, it is always a good idea to keep your debt as low as possible and also become debt free if you can.

6)    Can this card help me clear all my debts?

No and yes. If you think this is like a magical pill, then you are totally mistaken. You need to plan out your budget and also make sufficient amount of payments to this account. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.