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Balance Transfer Credit Card with no fee

Balance Transfer Credit Card with no fee
Balance transfer credit card with no fee credit card balance transfer credit card with no fee annual percentage rate seems a great thought. interest for no payment up to 18 months on the money. these offers can fact mobey saving if used wisely. what's in it for the bank and credit card company singing, however, helps avoid mistakes.

Key take ways 

 consumers who for a zero present transfer should that the interest-free period is only a limited time.

credit card society some make money, not from interest but also merchants when purchases made.
Banks track offers and know the %of people who will win or lose. 
Credit card society several money-makings for reasons offering let customers balance transfer from a competitor's card and pay 0% interest on that balance for a year longer. Credit card companies offer zero financings as a way to entice you to apply for their credit card says certified financial planner colin drake of Marin financial advisos in Sausalito calif.

Make money from 3% interchange fees that retailers py on any purchase that a consumer charges to a credit card balance transfer fees and from customers who don't pay off the balance before the introductory period ends.
Meanwhile fess

Whilst the amounts under zero percent transfer offer won't accrue interest during set period al long every minimum payment is on time card companies usually charge the consumer for moving the amount from the old card to a new card. The average balance transfer fee is 3.46% meaning that each $ 1,000 transferred crates and an average of $34.60 in balance transfer fees.
Late payment is big money

Transferring a balance to get a zero percent introductory rate for 12 months doesn't mean just forgetting about the balance the cardholder has to make minimum payments before due every month or lose the zero percent rate and might to pay a late fee. The cardholder will start paying interest on the transferred balance the penalty rate unless the card comes with a no penalty APR.

Bank lobe to cross-sell

A bank has credit cd customer it might look to get that a business in other ways a  personal checking for accounts the customer pays monthly fee-saving account that earns little interest to the customer as the balk and money ut a higher rate an auto loan or mortgage on which the cross-sold customer pays their interest for years even decades no mention a home equity line of credit or another credit card that racks a balanced interest.

Nothing inherently wrong with any of these products or banks make money them but all the time a bank sings in a customer for one of the product s it has opportunity create a long relation cross-selling and another reason for zero percent offers.

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