If you want or need to transfer you accrued balance from one credit card to the other you will need to compare credit cards; several parameters to see whether the move is economical. The first is to compare credit cards interest rates, the one you are transferring the balance to must be of a lower rate than the previous one. This will be in effort to save money paid as interest. If you are not able to interpret the interest rates refer to an expert.
If you operate a bank of Ireland credit card, it would be good to check the new cards introductory rate and the duration of the interest free length. Some cards may have up to nine months. Also the interest to be charged after the introductory period should be of great importance. A card may have a longer interest free period but a very high annual interest rate later. The new card should also have an interest free purchasing advantage during the introductory period.
If you are transferring you balance to Amex republic of Ireland credit card, make sure that you know if the low interest rate is only for the transferred balance, to new purchases and cash withdrawals you make during the offer period or to all. Some credit cards may offer very lower interest rates on cash withdraws thus you feel safe to make withdraws. To avoid huge charges, the withdrawal of small amounts from ATMs should be completely avoided; withdraw big amount that will sustain you for sometime.
Apr 30