A single mother will need to work hard in order to bring all the bacon at home while doing the child raising. For making this affordable, she needs a credit card which will reward her every time she swipes. No matter the card is needed for debt clearance or for emergencies a balance transfer credit card will be the right choice. This card will be an easy means of freeing up the flow of cash amid the paydays or managing financial emergencies.  


How this Card Works?

This is similar to other credit cards available. Most credit cards charge a balance transfer fee, but only a handful will offer low rates of interest and fees. Relatively the process is simple, just sign up for it, inform the person who issues the credit card to inform him how with this card you plan to clear the balance.

A Quick Look at its Benefits

The entire point to transfer the balance in case of a starter will be to keep away paying the interest on their debt. This means one can transfer the high APR card into a new one through an introductory rate of interest of 0%. Most of these cards provide an introductory offer which means it will not charge any interest for about 12-18 months thereby giving a single mother more time in clearing their debt devoid of adding in this high rate of interest. This credit card will also help in consolidating debt from different cards. When she transfers the debt into one credit card being a single mother, she can keep away from the unnecessary fees while all her payments will be due every month at the same time. This will help her to prevent late fees on the card she forgot she actually had.

The Balance Transfer Fee

The majority of the balance transfer credit cards will always charge a 3-5% fee of the amount which they are accepting. Just a handful of cards comes with low APR and zero transfer fees. When it comes to credit cards, the concept of one-size fits all will not apply. This depends largely on individual needs. The card issuers will provide different features including everything from the basic balance transfers up to perks such as no annual fees, air miles, cash back and zero percent APR on purchases.

A single mother can transfer the current balance of their gas cards, credit cards and also other cards. But she needs to be aware of the fact that when she gets approval for the credit card, she will be given some limit up to which she can transfer the amount. While transferring her credit card balance indeed it is crucial to pay attention that the introductory rate is temporary. Usually, the duration will vary amid 6-18 months which will be specified under the offer. By themselves, balance transfers will not close an account automatically. Should she desire to close the credit card account post transferring the balance, she needs to inform the creditor for doing so.