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The Best Balance Transfer Credit Cards, Winter 2013

It's a New Year, and with the dawn of a New Year usually comes a slew of new credit card offers. In this week's credit card article, we break down the best new balance transfer credit cards of this winter, 2013.

Discover Launches New Line of Discover it Credit Cards

Discover, one of the major credit card companies, has pulled their Discover More line of credit cards from the market, and launched a new line of credit cards called the Discover it cards.

Benefits and Exceptions of Credit CARD Act of 2009

The first phase of credit card legislation signed by President Obama on May 22 took effect yesterday, August 20, with the remaining provisions going live February 22, 2010.

Helping you Save: Consolidate Debt

Recommendations:

  1. Get a 0% APR balance transfer credit card
  2. Transfer high interest balances
  3. Don’t use this new card for other purchases

Helping you Save: Check your Credit for Free

Recommendations:

  1. Get a completely free credit report

Credit Card Interest Rates Drop Again

The Federal Reserve sharply cut the Fed Funds Rate by 0.75% earlier this week, leading to a corresponding decrease in the prime rate. Most credit card interest rates are tied to the prime rate, so carrying a balance on these cards just got a lot cheaper.

If you don't have a variable rate credit card, now might be a good time to check one out.

New Mileage Bonus Cards from Capital One

Capital One has launched a series of “No Hassle” mileage cards that award bonus miles for various types of spending.    Instead of earning 1 mile for each dollar spent, you can earn multiple miles for each dollar spent.    There are bonus mileage cards for Gas Purchases, Travel & Entertainment, Travel & Gas, Electronic Stores, Dining & Travel, Retail Stores (including wholesale clubs) and Home Improvement.  

Credit Card Interest Rates Drop Sharply

The Federal Reserve unexpectedly cut the Fed Funds Rate by 0.75% earlier this week, leading to a corresponding decrease in the prime rate.    Most credit card interest rates are tied to the prime rate, so carrying a balance on these cards just got a lot cheaper.

If you don’t have a variable rate credit card, now might be a good time to check one out.

Prime Rate Reduced to 7.25%

The Federal Reserve cut interest rates by .25% yesterday, leading major banks to cut their prime lending rate by a quarter point as well. With many loans and credit cards tied to the prime rate, interest costs for consumers will come down.

With several rate cuts in recent months, variable rate credit cards are increasing in popularity. Visit our credit card comparison tool to find a low rate card that has the rewards program (free travel, cash back, gas rebates, etc.) that will benefit you most.

Free Cell Phone Insurance

The recently upgraded AT&T Universal Savings & Reward Card offers up to $100 reimbursement (after a $50 deductible) if your cell phone (any carrier) is lost or stolen. This won’t fully cover you if you have an expensive phone, but it could be useful for many of us. This benefit comes at no cost when you get the Card. Some restrictions apply; see the offer for full details.

The AT&T Universal card has no annual fee and offers a 0% introductory APR on balance transfers for 12 months.

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