When looking for the best credit card rates one thing you will want to look for are no fee-balance transfer credit cards. Credit cards come with an array of fees, which are usually standard regardless of which company you decide to go with. On occasion a bank or lending institution will offer incentives to switch to their credit card. If you have multiple credit cards (and most people do) then the no fee-balance transfer credit cards are a great way to begin to consolidate your credit card debt.
By taking advantage of having no balance transfer fee you can combine the balances of multiple cards into one without having extra fees tacked on for doing so. This in itself is a great incentive to use a particular credit card. Once you have chosen your no fee-balance transfer credit card or cards you can begin transferring the other accounts into them. Overall, this is going to save you immediately on the transfer fees and long term by reducing the interest you are paying each month for having several cards and also by eliminating some of the annual fees.
When the economy takes a turn downward we need to take advantage of money saving offers as often as we can. Since most people can not completely pay off all of their credit card debt, the next step is to find no fee-balance transfer credit cards and begin transferring balances onto them. That means one or two checks written every month instead of six. It also means less annual fees, less overall interest and a lot less hassle.
Most people do not open all of those cards all at once but it is possible to reduce them immediately. The money saved by transferring balances may very well make a huge dent in just one of the payments you make this month. Having one or two balances is better economies than having multiple open credit card accounts. Fees add up. So do annual fees and interest. Figure out just how much you can save just by using no fee balance transfer credit cards. You may just be surprised.
Saving money is not always easy but this is one step you can make that will be very simple. As soon as you transfer balances you are going to be saving hundreds of dollars instantly. Over time even more money will be saved on interest alone. There really is no need for multiple credit cards when you can have one or two no fee balance transfer credit cards and fewer payments every month.
The sooner you get out all of your credit card statements and do the math, the better off you will be. Facing the debt is the first challenge when trying to reduce debt. Once you have done that, find out which are no fee balance transfer credit cards and use those. Just by doing that you have saved money instantly and that always feels good. Check the figures for yourself and eliminate some of your credit card debt.