Balance transfers consolidate debt while saving money on interest fees.
San Diego, Calif. (PRWEB) February 16, 2013
One of the easiest ways for consumers to consolidate debt while saving money on interest fees is to transfer an existing credit card balance to a new, 0% interest credit card. This according to Creditnet.com, an online authority on debt management, credit repair and credit cards.
To make consumers more aware of this debt consolidation option, Creditnet today released a new infographic explaining how to make a 0% interest credit credit card balance transfer.
"Transferring your balance is really simple, and yet a lot of consumers either aren't aware that it's an option to them, or that it's too time-consuming or costly," said Jason Bushey, Creditnet's VP of Operations. "We released this new, step-by-step infographic to erase those misconceptions."
From calculating a payment plan to choosing a card, making a transfer and paying down debt interest-free, each step is outlined clearly in Creditnet's helpful new infographic. Creditnet also provides the infographic's embedded code on the page, encouraging webmasters to use the image on on other sites at no cost.
According to Creditnet, most consumers can qualify for a balance transfer credit card, the exceptions being consumers with damaged or no credit. Creditnet also pointed to some of the best balance transfer credit cards on the market today. Two of these include:
The Discover it - 18 Month Balance Transfer Card is Creditnet's current choice for the number one 0% interest credit card on the market today. This card has an 18 month 0% intro period applied to balance transfers - one of the longest available on the market today. It also offers 0% APR on new purchases for six months, and 5% cash back on items in rotating categories for up to $1,500 in purchases when members enroll for free.
Another balance transfer credit card Creditnet.com suggests is the Citi Simplicity Card. Like aforementioned Discover Card, the Simplicity Card offers cardholders 18 months to pay down a balance transfer at 0% interest. This intro period also applies to new purchases, and there are no late fees or penalty fees, which makes the Simplicity Card stand out from the pack as one of the very best 0% interest cards on the market today.
"It's our goal to make credit repair and understanding debt management as simple as possible for our users," said Bushey. "Our Infographics are especially useful because they tell the story in two parts: words and pictures."
Added Bushey, "We're making a strong effort to put out more and more infographics because we consider them so valuable to the personal finance conversation."
Creditnet.com is a leading credit card comparison website, and has been an authority on credit repair, debt management and credit card reviews since 1995.