The rise of the balance transfer credit cards
The market is packed with number of banks and finance companies. And, each one of them is fighting for the piece of market share. And, to make it happen, each one of them boasts about their packages; with their appealing advertisements and lucrative offers as well. Â Therefore, it definitely gets tough for the customers, because they find it quite difficult to pick the right one.
With the advancement of the balance transfer credit cards, the competition between the credit card providers has multiplied for sure. A balance transfer credit card provides relief to the customers, who are suffering from an unsettled credit card debt.
The credit card for balance transfer offers us an easy way to deal with the credit card debt, by allowing us to move the balance to another credit card’ account. So, it indirectly means that the customer will close the account of the old credit card, and will continue with the new one.
Therefore, the credit card for balance transfer has provided a weapon to the banks and finance companies. When a customer applies for a balance transfer credit card, then it is a benefit for the new provider, whereas, a loss to the old one.
So, for this reason, the banks and finance companies come up with different offers each time. To attract the customers, the banks even offer a zero percent offer on their credit cards for balance transfer. However, we must research on the offers, before taking our final decision.
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