You no longer have to endure exorbitant interest rates! By choosing the balance transfer credit card, you can merge your debts and reduce the amount spent on interest. This article will lead you into the balance transfer cards designed specifically for individuals with credit. Choose the best balance transfer cards for fair credit with us!
Financial Freedom: The Best Balance Transfer Cards for Fair Credit:
Let us first clarify what balance transfer cards are and how they function! A balance transfer card enables you to shift your existing credit card debt to a card offering an interest rate or promotional period. This allows you to save money on interest fees and manage your debt effectively.
Fair credit typically falls within the FICO credit score range of 580 to 669. While fair credit might not make you eligible for the credit cards available, there are still numerous options that can assist in enhancing your financial position.
Capital One QuicksilverOne Cash Rewards Credit Card
This card is perfect for those with credit and provides unlimited 1.5% cash back on all purchases. You will be able to enjoy the benefit of no fee and the opportunity to access credit limits after making your first 5 monthly payments on time.
Discover it® Secured Credit Card
The Discover it® Secured Credit Card stands out with its cashback rewards feature. Earn 2% cash at gas stations and restaurants and up to $1,000 in combined purchases each quarter along with 1% cash on all other purchases. Additionally, The Discover it® Secured Credit Card will match all the cash back you have earned at the end of your year automatically.
Citi® Diamond Preferred® Card
Known for its extended 0% intro APR period on balance transfers, this card offers up to 18 months to manage your debt without any interest charges. While primarily targeting individuals with good to credit scores, Citi might still consider applicants with credit for this offer.
BankAmericard® Credit Card
Experience a 0% intro APR period on balance transfers for 18 billing cycles with the BankAmericard® credit card. Also, there is no charge making it a cost-effective choice for individuals seeking to merge their debts.
Learn How to Make the Most of Your Best Balance Transfer Cards for Fair Credit
1. Make Timely Payments:
Be sure to pay your dues on time to avoid fees and keep your promotional interest rate intact.
2. Pay More Than the Minimum:
Although paying the minimum amount may seem appealing, increasing your payments can speed up debt repayment and reduce interest costs.
3. Avoid New Purchases:
Concentrate on reducing your debt of adding more by refraining from using your balance transfer card for new buys.
4. Monitor Your Credit Score:
Keep an eye on your credit score as you pay off debts. As it improves, you might qualify for better credit card offers in the future.
By selecting the best balance transfer cards for fair credit and implementing a repayment strategy, you can make significant progress towards financial independence. Remember to evaluate your choices and consider your spending patterns. Pick a card that aligns well with your requirements and objectives.
