Information on the current state of the balance transfer credit card market focusing on 0% APR offers, balance transfer fees, and recent changes in credit card terms by major issuers.
The Balance Transfer Fee Situation
A year ago, more than a dozen credit cards offered no fee balance transfers with 0% interest rates for a full year. During April, the last major credit card issuer to offer a 0% APR on no fee balance transfers pulled the offer from the market. Today, there are a limited number of credit cards that charge no balance transfer fees, and none of them offer a 0% APR for more than six months.
As the number of credit card companies offering no fee balance transfers has dwindled, the total fees charged by these companies has risen dramatically. Between 2005 and 2007, the vast majority of credit card companies charged 3% of each transfer up to a maximum of $75. Over the past few months, many of the nation's largest credit card issuers have eliminated the dollar cap on balance transfer fees. Consequently, a person transferring a balance of $5000 would be charged $150 in balance transfer fees today. Three months ago, the fees would have been $75. Not all credit card companies have raised fees. You can learn more about
Getting Approved for a 0% APR Balance Transfer
The current credit crunch has made many lenders wary of extending credit. Individuals who may have easily been approved three months ago are finding it much more difficult today. In addition to the tightening of credit criteria required for approval, many credit card companies have significantly altered the terms of their offers.
For example, one of the largest credit card companies in the nation advertises a 0% APR on purchases and balance transfers for one year. However, the fine print states that it is possible to be approved and only offered a 0% APR on balance transfers for 3 months. Another company has taken a similar measure. While it advertises a 0% interest rate for one year on purchases and balance transfers, it may approve an applicant and only extend the promotional 0% rate for 6 months.
Now, more than ever, it is increasingly important to closely review credit card fine print. Our website provides guidance on the fees and policies of individual banks to help facilitate the process of making a money saving
The Future of No Interest Balance Transfers
A decade ago, 0% APR offers simply did not exist. Introductory rates for purchases and balance transfers were generally in the 3% to 7% range. Intense competition led the credit card companies to reduce introductory rates to 0%. Now, however, credit card companies are growing more and more reluctant about extending credit at 0% rates. Ultimately, this could lead to the complete disappearance of the 0% interest balance transfer. Our advice: individuals sitting on high interest debt should act quickly to take advantage of
About Us: Smart Balance Transfers is a Credit Card Depot Inc website. Since 2004, Credit Card Depot Inc has provided consumers with credit card information and advice to help them make the best decisions when applying online for credit cards. With nearly 50,000 monthly unique visitors, our websites provide us key insights on the credit card market. We use this knowledge to help our visitors avoided falling into credit card traps and maximize the money they save by taking advantage of 0% APR credit card offers.
To learn more about current credit card offers and apply online, please visit
David R Mills explains in great detail why an offshore bank account is an very effective and legal way of concealing all types of assets and savings from creditors, ex spouses, lawyers, bankruptcy and greedy governments in this declining and worrying economy.
London, UK (
Other advantages include earning higher rates of interest and the ability to run accounts from home with a PC. Also offshore bank customers can reduce or eliminate income tax, inheritance tax and other taxes by living in a different country.
Businessmen might find this is the only way of establishing a foreign commercial bank, since other possibilities are difficult to accept owing to the demand for high capital etc. Offshore banking is also a must for those who need complete privacy in their bank. A "numbered" account, also known as "the anonymous bank account" provides this by keeping the account holder's identity secret. All identity is erased from the bank's computer and the account holder is known by a number or code. No paper communication is ever made.
Another great benefit is that if the right jurisdiction is chosen, any financial claims made against the account holder will be thrown out by local courts.
Also, in the present social climate, where being sued for compensation is an every day occurrence, it's more important than ever to have the financial protection of an offshore bank. There are many types of investments offered by offshore banks including stocks and bonds and the choice of many different types of accounts.
Internet marketers in particular can benefit in many ways by incorporating offshore. Their assets are made very confidential and private and it helps to legally cap the tax amount paid on on line income. It is also imperative that an offshore merchant account is established to handle all credit card transactions especially when offering items or information for sale on line.
"The first quarter of this year 2008 shows a very sharp increase in the USA alone of over 12,327 citizens going offshore to bank and with the current financial climate these figures are likely to soar," says Mills.
Today, when financial security is a real concern, it makes sense to take advantage of the protection afforded by subscribing to an offshore bank.
To find out more information and the full benefits go to htttp://www.concealyourassets.com
David R Mills (UK)
Tel. 0044 (0)1933 418484
Lobbying Washington surfaces at S.USA’s Chicago Women’s Financial Roundtable as leading women discussed business, finances, and how to educate and empower women in the midst of challenging times.
Chicago, IL (
“The information and messages were informative, powerful, and clear - you can take control of your financial life, build for your future, and realize your power. And, you must start today,” said S.USA President and CEO
Lindsay Tilchen Johnson, Vice President, Tilchen Corporation, stressed the importance of having a financial plan. “Feel empowered to take control of your finances and your career,” said Tilchen Johnson. “And, remember, you don’t have to be a millionaire to become a multi-millionaire.” Attorney Deane Brown, partner with Beermann Swerdlove, LLP, reinforced Tilchen Johnson’s point on the importance of having a financial plan. She touched on the sensitive topic of women distributing their wealth and possessions after death and urged every woman present to have a will drawn up immediately.
An Executive Vice President with Harris Bank, Emilia DiMenco spoke on the topic of money and banking. “The greatest issue of concern in our society today is financial education,” said DiMenco. “You must seek the channels, the experts, and the information to educate yourself because education brings empowerment.” She told the audience that they must develop a relationship with a banker, be informed, plan, and pursue promotions and services. She assured participants that in doing so they would learn to control their finances so that their finances don’t control them.
With respect to the job market, Marian Carrington, Principal at executive search firm Carrington & Carrington, Ltd. encouraged audience participants to be proactive. “Contact potential employers, explore the market, and be prepared,” said Carrington. “Be ready should you get the tap; have a plan, and consult an expert.” Cristina Benitez, president of Lazos Latinos and author, Latinization…How Latino Culture is Transforming the U.S., talked of the challenges of starting a woman-owned business. Benitez spoke of the need to believe; in oneself and one’s passion, and called for each woman participating to be authentic. Said Benitez, “You must use your top three resources if you are to succeed in starting your business. Every woman, because she is innate in having the distinction of being a woman, is her own top resource.” She went on to say that it is imperative that women should find and affiliate themselves with a reputable network of executive women and take advantage of a women’s development center.
Anne Ladky, executive director of Women Employed, challenged the audience to get involved in their communities and local and national governments. “We have solved issues that weren’t even named 35 years ago; women are a force like never before, and we must make certain we are heard,” said Ladky. “When asked for her final word Ladky said, “Do something; anything! Talk to people, vote and get your friends to vote.”
The Roundtable committed to reconvene May 19, 2009 and is considering assembling a group of women leaders to lobby Washington on behalf of women regarding financial empowerment. In closing the panel made two conclusions. The financial advancement of women is a compelling topic which must be addressed, and women in the Chicago community can have an impact on and be the voice for women across the country.
About SBLI USA/S.USA
S.USA Life Insurance Company, Inc. is a subsidiary of SBLI USA Mutual Life Insurance Company, Inc. SBLI USA and its subsidiaries are licensed in 49 states, the District of Columbia, the U.S. Virgin Islands, and Puerto Rico. With more than $15.9 billion of insurance in force, $1.5 billion in assets, $129 million in surplus capital, 200 associates and over 300,000 policyholders, the company is committed to offering affordable, flexible and easy-to-access products through a variety of integrated channels, including direct mail, telemarketing, a bilingual Web site, licensed agents, and walk-in Customer Centers.
SBLI USA prides itself in its diverse workforce, which extends from the mailroom to the boardroom. The Company is comprised of 58% women with 48% in management roles and 37% in officer roles. Further, 45% of its Board of Directors is women.
SBLI USA Mutual Life Insurance Company, Inc. is the parent company to SBLI USA Holdings, Inc., which owns subsidiary companies S.USA Life Insurance Company, Inc., and SBLI USA Diversified Services Company, Inc. To learn more please visit
For more Information:
sbusby @ sbliusa.com