If you are looking to get the best deal on a balance transfer credit card, here are a few tips that could help you land the best balance transfer deals.

1.)  Reduce your credit utilization ratio:  Credit utilization ratios account for about 30% of your credit score.  This figure is calculated by dividing your current balances by your available balance.  If you owe $2,000 and have $10,000 in total credit limits, you’re in good shape.  But if you owe $2,000 and have a $3,000 credit limit, you may encounter problems.

One tactic that can help decrease your credit utilization ratio, and thus increase your credit score, would be to request a credit limit increase from your current company.  Credit card companies have been slashing credit limits, but you may be able to get a bump if you have a good history with your company.  If you can secure a credit limit increase, wait a few weeks for it to hit your credit report, then apply for a balance transfer card with your lowered credit utilization ratio (and presumably higher credit score).

2.)  Pay your credit card bill early:  This is another trick that could help reduce your credit utilization ratio.  At the end of your billing period, your credit card company reports your total balance.  If you make a payment a few days before your statement closes, your credit card company will report that you owe less money.

If you opt to do this, you still have to pay your monthly minimum, but paying a couple hundred dollars extra should help decrease your credit utilization.

3.)  Apply for a balance transfer offer you can get approved for:  If you don’t know your credit score, its a good idea to check it before applying for a new credit card.  If you have excellent credit, you’re in great shape.  You can probably get the longest 0 APR balance transfer offers available.  However, if you find that you have good credit, be sure to apply for a credit card that is for people with good, not excellent credit. 

Applying for a credit card that matches your credit profile increases your chances of getting approved.  This can not only help you gain access to a zero percent balance transfer cardsooner; it can also prevent you from getting denied and triggering red flags by re-applying for multiple cards a few days later.

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