We are all feeling short of cash at the moment. 0 balance transfer credit cards can help enormously. If you owe a large amount of money on your credit card or cards it can feel as though you will never pay them off. A 0% card may well get you through until things improve.

With credit card companies looking to maximise their profits many people with a large debt on their card are finding their interest rates are being increased. These cards are offered by many card companies and are a great way to get control of your debt.

What is a balance transfer?

Put simply it is what happens when you pay off debt on your old cards with your new one.

* Say you have 2 cards a and b owing $2000 on each.
* You get a 0% balance transfer card c.
* You ask c to transfer the debt from a and b to c
* C pays off a and b and your debt is now on c at a low rate!

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The stress of hauling bagfuls of Christmas gifts around and negotiating festive traffic is one that many will avoid this year.

Shopping online for the season of Christmas has become very popular and online-spending may be at its highest ever, with 15% more online purchasing than last year.

The advantages of this type of shopping are unmistakable: thousands of websites mean finding a variety of gifts is simpler, quicker and much less stressful without even leaving home.

Much online shopping is carried out by credit card users and Christmas is when credit card applications come thick and fast.

The expensive season means many need to extend their budget.

The ideal option is one of the purchase credit cards as it comes with a 0% introductory interest rate, thus acting as a loan but without the interest, providing of course you pay the card off by the end of the deal.

With some cards, the 0% interest can last up to 9 months, which means you can effectively spread the cost of Christmas over the year, making purchase credit cards all the more appealing.

It is worth noting though that if you fail to pay what you owe before the end of the introductory period, the interest rates are usually very high, so don’t even consider applying if you don’t think you’ll pay off your debt before the end of the offer.

As Christmas is fast approaching, now would be the ideal time to apply for one. However, there are some risks to consider…

A big disadvantage of internet shopping is there’s no definite way of telling if you’re being lied to. Being seduced into entering your credit card details into a false site is a common trick of fraudsters and this can be difficult to detect online.

Be Card Smart Online is a campaign which has been launched to combat fraud. They outline some simple ways to stay safe, so that the increased numbers of online shoppers this Christmas don’t get conned.

These precautions include: -Protecting your computer by checking that you have a working and up-to-date operating system, browser and anti-virus software.

-Checking there is a padlock symbol next to your URL bar before entering details.

-Registering your cards with Verified by Visa or MasterCard SecureCode when prompted to add a password-protected layer of security.

-Always logging out after making online purchases.

About the Author:

Emily Gorton is a staff writer and personal finance expert for the website Credit Card Comparison Online. The site allows users to compare zero percent on purchases credit cards.

If you don’t understand the language, credit card offers and statements could lead you to deep debt — or at least furious frustration. For the big scoop on the fine print, here’s what these frequently used credit card terms mean.

1. Average daily balance — This is the method by which most credit cards calculate your payment due. An average daily balance is determined by adding each day’s balance and then dividing that total by the number of days in a billing cycle. The average daily balance is then multiplied by a card’s monthly periodic rate, which is calculated by dividing the annual percentage rate by 12. A card with an annual rate of 18 percent would have a monthly periodic rate of 1.5 percent. If that card had a $500 average daily balance it would yield a monthly finance charge of $7.50.

2. APR(Annual percentage rate) — A yearly rate of interest that includes fees and costs paid to acquire the loan. Lenders are required by law to disclose the APR. The rate is calculated in a standard way, taking the average compound interest rate over the term of the loan, so borrowers can compare loans.

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All across the United States, consumers who are smart with their finances are taking advantage of zero percent credit card offers, and for good reason. By signing up for a 0% intro APR credit card deal, consumers with credit card debt and a good credit score can literally pay no interest on their lingering credit card debt for 12 months or more.

Here are some important things to remember when taking advantage of zero percent intro APR offers:

1. Many credit card companies will offer you an interest free period as a way of introducing you to their credit card. It is very important that you know and understand what the interest rate will be once that free period is over. If you are forced to pay a significantly higher interest rate after the free period you will likely wind up with a much worse deal than you had intended. If at all possible try to pay off your total credit card balance before the interest free period comes to an end. Try to find a balance transfer deal that gives you at least 6 months 0% introductory APR so that you don’t wind up making balance transfers too often.
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If you are carrying a balance on one or more credit cards you already have, you may want to think seriously about applying for a new 0% balance transfer credit card offer.

Now you may be wondering how an issuer can possibly offer 0% balance transfers on credit cards, but it’s true. Many leading banks offer interest free balance transfers. That’s right, you can transfer balances from your current credit cards onto the new card that you apply for and pay 0% interest on the balance for up to 12 months. What’s more, some programs have absolutely NO fees to make the transfer, though you must qualify by having excellent credit. Other programs charge a 3% fee of the amount you transfer, but many banks commonly cap the fee at $75. That means that transferring more than $2500 will not cost you any additional fees.

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