Interest Free Credit Cards Balance Transfer
The recent stiffening in the finance sector has led to various innovative packages being offered to the consumer in an effort to lure him or her to a particular financial institution. One of the services offered by bankers in this effort is offering interest free credit cards balance transfer within a certain period. This has caught the attention of many people around the country especially given the fact that most people are being saddled with rising costs.
Most banks have offered the interest free credit cards balance transfer in the hope of getting customers a beating off their competition. It is argued by most people that when properly taken advantage of, this offer may prove to be very beneficial to people who owe huge amounts to the bank. Many consumers around the world find the offer very attractive.
Interest Free Credit Cards Balance Transfer – Benefits
The problem however of the banks making the interest free credit cards balance transfer offer to their customers is that it may tempt the persons to overspend the money they get. Analysts speculate that such kind of offers are likely to promote the attitude where the consumers decide to adopt the “buy now, pay later” attitude. This kind of attitude in consumers is one of the leading reasons why most people are deeply in debt. Some people therefore believe that as much as it may seem to be beneficial to a consumer, in the long term, this kind of offer is likely to be detrimental to him or her.
Interest Free Credit Cards Balance Transfer – Discipline
However, in general this kind of offer from the banks will be beneficial to most people if used rightly. With a little bit of discipline and common sense, taking advantage of the offer for interest free credit cards balance transfer may help a person to easily shed off a huge amount of their debt. Like all financial matters, doing this will require some research and where one is not able to do this on their own; a good financial advisor will be of great help.
While the idea of not being charged interest for a period of time, be it for a year or two is quite appealing and something which most people should be thankful for, there people who are skeptical of this promotional offer. Most people are of the view that like the other loan facilities that the banks used to offer, accessing this facility may be quite difficult.
Interest Free Credit Cards Balance Transfer – Skepticism
This kind of skepticism is not unfounded as the banks may require exceptionally good credit ratings before they can extend the said financial facility. This may mean that a huge number of people who may really be in need of it will be locked out. As some people suspect, this may be just another marketing gimmick intended to catch the attention of the public. But it is still early to suppose that that is exactly what is going to happen in this case.
In general, if the average person can get their hands on this offer and wisely make informed decisions, this might just be the best offer for consumers who largely depend on credit facilities. Look at other free credit cards offers.
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