Do you have a pile of Credit Card Debt that you’re trying to get rid of? If so, you may have considered a Balance Transfer to another Card.
Have you considered a Balance Transfer, but are concerned about getting the Balance Transfer wrong? If so, keep reading today’s post, as Debt Warriors share a valuable secret to prevent the pain that can come with a Balance Transfer gone wrong.
Promotional vs. Standard APR
Know The Standard A.P.R.
Many people get into Credit Card Debt trouble by not knowing what the ‘Standard APR’ is after the Promotional Rate ends.
You may have heard of ‘Teaser Rates’ for Mortgages. Well, the same applies for Credit Cards.
Many Credit Cards offer ‘Promotional Interest Rates’.
Often these Promotional Rates range from 0% up to 9.99%. In addition, often the Promotional Rates (just like any other Promotion) only lasts for a certain amount of time (generally six months to one year).
After the Promotional Rate ends, the Standard Rate kicks in. As you can see from the chart, the Standard APR can be anywhere from 10% all the way up to 16% (sometimes higher).
Many Credit Card Holders are shocked when they realize that the Promotional (“Teaser”) APR is now much higher than they’d imagined. That is because most people don’t know what the Standard A.P.R. will be once the Promotional Rate ends.
To avoid this happening to you when you do a Balance Transfer to another Credit Card, make sure that you at least understand the “range” of what the Standard A.P.R. will be before you accept the Credit Card that you intend to transfer the balance to.
Debt Warriors cover exactly how to properly do a Balance Transfer in our Credit Card Medic Video Course. In one easy to understand video tutorial, you’ll be able avoid the pain that so many face when looking to do a Balance Transfer from one Credit Card to another.
Now there is no need to worry about transferring a balance to another Credit Card. The Credit Card Medic Video Course takes all of the worry out of reducing your Credit Card Debt for yourself 
To learn more about the Credit Card Medic Debt Reduction Video Tutorial click here.
