The time has come again to transfer your credit card balance to a new card so you can take advantage of the 0% rates and long introductory periods.  With so many credit card transfer deals to chose from, which one do you apply for?

There are many good balance transfer deals that offer additional benefits.  Depending on where you frequently shop, there could be rewards that are attractive to you, and by doing some thorough research you’ll know which one is right for you.

When comparing credit card transfer deals take into consideration the following points in order to choose the most appropriate card for your situation.

How long is the introductory period – the longer this period is the more interest free payments you would be entitled to.

What rate does the APR revert to – you do not want a huge increase in interest rates at the end of the introductory period.

Annual fees – some of these fees could be quite high which would be added to the balance you have to repay.

Balance transfer fee – the lower this fee is the better, because you would have to pay it in addition to your balance.

Added benefits – choose a card that gives you a bit more, e.g. if you use a lot of gas in a week; why not apply for a gas credit card that allows for balance transfers as well.

Below is a comparison table highlighting the above points.

There are other features that you could look at such as late payment fees, cash withdrawal fees, etc.  But these fees are normally standard across the industry.  The main purpose of the balance transfer should be to enjoy interest free payments while reducing your credit card debt.  The most important fees are shown in the table above.

Before submitting your application however, you should read the terms and conditions just to make sure you know everything about the balance transfer credit card offer.  This avoids any unpleasant surprises in the future.

Once you decide on a rewards program that would benefit you and have compared the different credit card transfer deals on offer, you should have no problem choosing the right credit card for your balance transfer needs.