Credit Card Balance Transfers

Hopkirk | 23:48 Mon 19th Mar 2012 | Personal Finance

2 Answers

Why do credit card providers keep pushing these offers?

I know that initially it is to get you take sign up to one of their cards.

However I am constantly offered deals to transfer balances to cards that I have had in my possession for ages.

Effectively they are loaning money for 2.9% (assuming a one year interest free period) which doesn't make sense.

repayment of benefits

can somebody explain this tax problem

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andrew1707

Most of these Balance Transfer deals have a signing on fee that you pay up front. This is now the bank manages to give you such good APR rates on the BT.

If you can find one with no up front fee then grab it!! (assuming you need it)

saperillo

got the same situation :( Media URL: http://www.creditcards.org/
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