For a start there is no such thing as a ‘best credit card transfer rate’ for everyone. You can get the best credit card transfer rate for you and your spouse can get the best credit card transfer rate for them: but that does not mean that you will each have got the same new card or rate.

One of the key determining factors in establishing which is actually the best transfer rate for you is to look at how you use your credit card. If you use your card a lot, then you may find it difficult to stop using it, so you may need to get a card that offers you a period of grace, with a (usually short period) where you do not have to pay any interest on any new purchases. This will at least help you to gradually stop using your card and then you can simply repay the balance.

You also need to look at how much you owe. If you owe £5,000 on your credit card is it realistic to think that you can have this repaid within a year? If so, then go for a 12 month 0% balance transfer rate. If you know that it would be very difficult to repay the balance, then shop around and try to get a 0% balance transfer rate for 15 months, not 12.

Finally, you need to consider the fee that may be paid. Not all companies charge a fee, but some do, so this may cost you a significant amount of money! So this needs to be factored in to your calculations.

Only once you have weighed up all these different issues, will you be able to establish which is the best credit card balance transfer rate and package for you. So ignore those people who tell you what a fantastic deal they got and how only a fool wouldn’t sign up to this deal: it may be right for them, but that doesn’t make it right for you!

Article source:  http://www.mirror.co.uk/advice/money/2009/08/05/best-credit-card-transfer-does-one-size-fit-all-115875-21573154/