Thousands of consumers have enjoyed the benefits of transferring large credit card balances from high interest rate cards to low rate or even interest free balance transfer credit cards over the last few years.

Balance transfers have become an effective way to avoid costly interest payments, and often offer attractive long term rates once the initial “teaser” period expires.  

Transferring your balance is a simple process.  Typically, all you need to do is to provide the details of your existing credit card balance to the new card issuer, and the issuer will arrange for those balances to be cleared using your new card.  You are left with one credit card balance to manage at no or very low interest.

You need to ensure that the balance transfer card credit limit is high enough to accommodate the combined balances that you intend to transfer.