"Credit card interest payments are the dumbest money of all", as once spoken by Hill Harper, a famous American actor, and author which might relate to most of the intelligent Americans who know that a good debt is a person’s liability towards someone’s asset. The recent years have seen a huge increment in the use of credit cards where users are struggling to pay off their debts within the allotted time and remain coerced into the banks.

On an average 33% of the entire population in the US uses more than two credit cards and are still liable to pay huge interest to their respective banks. This increasing concern can be settled only by the free intro period balance transfer card, which allows the holder to transfer the withstanding balance from one credit card to another, of a different provider with 0% Introductory rate (or intro APR).

No, that’s not where it stops. The fact might astonish you that according to Experian’s recent investigation, an average American holds a balance of $6,375 in his credit card, which is nearly 3% hike from the previous year. According to the Federal Reserve’s latest calculations, an average American household bears $137,063 as his credit card debt.

Types of credit cards

• Rewards Credit Cards: As the name suggests, this type of card earns you credit points on every purchase you make. While some credit cards will pay you up to 2% of rewards, other will earn you extra points.
• Low-Interest Credit Card: Ever tried to realize what can help you sort your carry forwarded credit balance every month? If you did, the only reliable answer is to use low-interest credit cards that will charge lesser interest rates on your purchase.
• Balance transfer Credits Cards: This lucrative class of credit card will equip the holder with the ability to transfer his credit balance from one card to another card of different banks that might have lower or attractive terms.
• Secured Credit Card: These types of cards are meant for those who have a bad credit score and are unable to pay their debt for a longer period of time. This card requires the account holder to provide post collateral to the credit provider.

Balance transfer cards with 0% introductory rate

Out of the four general types of credit cards available in the market, balance transfer cards are the best possible option that can help you cut down your interest rates. It also provides the benefit of switching your balance into another credit card the serves with you better terms. Generally, banks charges you with introductory Annual Percentage Rate on a term of minimum 6 months up to 21 months as set by the federal government, which is charged on the amount of balance, transferred.

But, relax! Because of the heavy competition of the global market and the debt amount banks are now trying to lure or rather attract customer by giving away free introductory rates or 0% interest rates on their balance transfer card. Different balance transfer card offers you with appealing offers and tenures of about 12 to 18 months to make you easily pay off your debts.