(PRWEB) November 1, 2006 -- Transferring credit card balances is all the rage these days, and it's no wonder. The interest rate charged when a credit card balance isn't paid in full -- also known as the annual percentage rate (APR) -- is invariably tied to the U.S. Prime Rate, and the Prime Rate has been on the rise since the summer of 2004. Hence the popularity of credit card balance transfers. Many credit card companies and banks offer what is basically a vacation from paying interest on credit card debt that can last from 3 to 12 months or more -- that is, if you're willing to transfer your existing credit card balance from a competitor. In fact, some credit card companies are so keen to get your business that they'll not only give you an interest-free period on transferred balances, but they'll also forgo interest charges on new credit card purchases for up to 12 months to boot.

According to Steve Brown, an Internet entrepreneur and creator of the BalanceTransfer.cc website, credit cards that feature a feeless, interest-free period on transferred credit card balances are now the most sought after accounts at BalanceTransfer.cc. "The stats for October are in, and the numbers don't lie," said Brown. "Credit cards that offer a year long break from interest charges are still the most popular at the site, but, more specifically, it's the free balance transfer offers that led the pack, the offers that don't require consumers to pay a balance transfer fee."

Brown explains that many banks and credit card companies started charging a fee for transferring credit card balances so as to discourage consumers from transferring relatively small balances from one 0% balance transfer offer to the next.

"Credit cards are very profitable for banks and credit card companies, so competition in the industry is fierce. That's why all the major players out there offer generous 0% balance transfer offers these days," Brown continued. "They might lose some profit in the short term, but in the long term they'll always make good money.

"Since many credit card companies are now charging a balance transfer fee, money-savvy consumers are trying to stay ahead of the game by applying for the few remaining credit cards out there that don't charge a fee for transferring balances, and they're applying in record numbers. The Discover Platinum card is number one at the BalanceTransfer.cc website right now, which is no surprise because with Discover Platinum you won't pay interest on transferred balances and new credit card purchases for 12 months, and there's no balance transfer fee, which is the icing on the cake. Citibank also has a couple of cards that offer fee-free balance transfers.

"I've been transferring credit card balances for almost 3 years now, and I highly recommend it to anyone with credit card debt. I do it with both consumer and business credit cards, and I have quite a bit of knowledge to share. That's why I created the BalanceTransfer.cc website.

"Transferring credit card balances is both fun and smart, but it's important to be careful when moving your debt around. Too much transferring in a short period of time can look bad in the eyes of your creditors, and can even cause some issues with your FICO® credit score. There are a few other things to be careful about, and I list all the major balance transfer caveats on the homepage at BalanceTransfer.cc," Brown added.

The BalanceTransfer.cc website has a very clean and austere layout; the only images you'll find are thumbnails of credit cards which link directly to online application forms. The site is well developed, however, with plenty of sage advice, detailed descriptions of each credit card offer, an online poll and a credit card blog with the latest news and tips from the world of credit card balance transfers.

Brown continued, "America is a very affluent society, with more billionaires than any other country on the planet. But America is also filled with lots of middle-class folks who can and should take advantage of the very best balance transfer offers out there and save some serious money. Bottom line: why pay 12% APR or more when you can pay 0% APR for up to 12 months?"

Brown invites anyone and everyone looking for a break from credit card interest charges to visit the BalanceTransfer.cc website and take advantage of the industry's best fee-free balance transfer offers while they last.

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