Low Interest Credit Cards

Switching credit cards used to be a time-consuming and highly stressful process but now, with most issuers offering balance transfer deals, the hardest part for many people is deciding on the right card.

While specific offers change frequently throughout the year, there are always a few features, like the ones below, that will help make the search for the best balance transfer as successful as possible.

Long Introductory Offers

Credit card debt comes in all different forms but regardless of how big a balance is a longer introductory period is usually better.

Cards with offers that run from nine months to a year or more give people a chance to get the account in order without rushing to make all the payments and take advantage of the low rates.

Cards That Revert To The Purchase Rate

People who want to take advantage of the lowest rates possible will probably be tempted by one or two 0% p.a.

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Looking for a deal on a balance transfer? The good news is that there are much better deals available now compared to a year ago. The bad news is that some of the best offers are not open to everyone.

With that in mind, here’s a list of credit cards currently offering the best balance transfer deals:

0% for 12 Months with No Balance Transfer Fees
Navy Federal Credit Union Credit Cards – For a limited-time, through July 31, 2011, all Navy Federal Credit Union credit cards are eligible for an intro 0% APR on balance transfers for 12 months with no balance transfer fees. Thi

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If used correctly and the outstanding balance is cleared monthly, credit cards can be a free form of short-term finance. MBNA has recently introduced a great option for people who are looking to reduce their debts. Remember that credit cards do not have an automatic repayment mechanism, and try to not fall into the trap of reusing an overdraft facility to its limit shortly after existing debt has been transferred.

MBNA offers a zero transfer fee card

MBNA has introduced a new credit card that has no handling fee on balance transfers or money transfers made within the first 90 days of the account being opened. An introductory rate of 1.9pc for 12 months is on offer and the standard rate of interest for card purchases is 16.9pc. The account is set up with paperless statements only and these must be accessed via online banking.

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Bright Star Credit Union offers a Cash Rewards Platinum Visa that features a 0% intro APR on balance transfers within 10 days of approval for the first 6 billing cycles of the account with no balance transfer fees or annual fees. In addition, the Cash Rewards credit card earns a 1.25% rebate on purchases, subject to a limit of $600 of rebates per calendar year.

Unfortunately, this deal is only available to those in South Florida, as you will need to visit a branch location in person. While you do not need to be a member to apply, you will need to become one to open your account. Membership is open to anyone who lives, works or goes to school in Broward or Palm Beach Counties, Florida, and relatives of anyone who is eligible.

Credit Cards UK: Compare & Save
Credit card advice on cheap credit cards, low interest cards and balance transfers.
www.creditcards.co.uk Friday, 12 Feb 2010, 9:55am

Researchers at Cambridge University have discovered that the chip and pin banking system is fundamentally flawed.

Balance transfer credit card holders have been warned that fraudsters have found a way to exploit major flaws in the chip and pin system using stolen cards.

Researchers at Cambridge University have claimed that the fraudsters are placing a “wedge” into the terminal to convince it into believing that the correct security numbers have been entered into the system.

In effect, this process enables crooks to withdraw money without actually knowing the pin number for an account.

The revelation raises major concerns about the chip and pin system because it renders balance transfer credit card holders vulnerable to fraud.

Professor Ross Anderson described the current credit card system as “fundamentally broken”.

He said: “We think this is one of the biggest flaws that we’ve uncovered – that has ever been uncovered – against payment systems and I’ve been in this business for 25 years.

“Customers are often told that their pin was used and so it’s their fault. Read more…