0 APR credit cards
ByRead this andyou can get several 0 APR credit cards and use them to quickly get yourself out of debt.
Does this sound like a great deal or what? Well I guess so. It sounds like a great deal to me. This wouldn’t be some kind of a gimmick would it, just to get you to sign up for their credit card. Actually it is a gimmick but a gimmick that you can use to your advantage.
Unfortunately, many people will get these low interest credit cards and while they continue to make payments on their high interest credit cards will put all of their new purchases and cash advances on the low ones and then 6 to 12 months later when the low percentage expires and the card goes up to the “normal rate” they wind up with another high interest credit card with a large balance on their hands. Not good.
Now for the good news. You can use these 0% credit card offers as a means to get your high balance credit cards paid off. Just word of caution, many times these offers come with 0% balance transfers and maybe 10% for purchases and 18% for cash advances. So just use new card to transfer your old high interest balance.
Saving money on your credit cards
The way to work this program is to apply for a low interest credit card with the idea that you’re going to transfer the balances from your high interest card and then do so. Then take the same money that you’re using to make high interest payments and apply it to the balance of your new card. In no time at all your balance will be paid down.
If the time period for the low interest rate, usually 6 or 12 months runs out and you still have a balance left, go online and find another credit card company that is offering a low interest rate card and once again transfer your balance and keep making the same payment as you were originally making when you had the high interest cards. This takes some discipline but you can do it and you will be amazed at how soon you are free of credit card debt.
Be sure to make your payments early because if you are late there will be a substantial penalty which many times includes your low interest card going up to “normal interest rates” and can even be retroactive.
Jimmy says, this is a great way to get your credit cards paid off and save yourself from paying all of the high interest.
Whoa Jimmy?
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0 apr credit cards, if used properly are a great way to pay down your credit card balance and if you have any experience with these cards please share with our readers in the comments.
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