Using a 0% APR credit card will help you pay off your balances and spend less on interest charges!To use a 0% APR credit card to pay off your debts, follow these steps:1.) Transfer your existing credit card balances to a new 0% APR credit card.2.) Continue to pay down your balance as usual. But instead of paying only the minimum each month, also pay the amount of interest you would have paid with your other card. This will reduce your debt even quicker!3.) Watch your introductory period. When it's about to expire, shop around for a new 0% APR credit card and transfer your balances again.4.) Continue this cycle until you become debt free.0% APR Credit Cards vs. Debt Consolidation:So you're considering a debt consolidation loan instead of a 0% APR credit card. Let's see how much you could save and how much quicker you could pay off your debt using the method shown above. Here's an example:Assume you have an existing credit card debt of $15,000. You would like to pay $250 per month until … [Read more...] about Using 0% APR Credit Card to Become Debt-Free
Zero percent credit cards 18 months
There are two types of credit cards. You have the regular credit cards and then the prepaid cards. The prepaid cards are the ultimate credit cards with zero interest. You see you are actually offering the money to the card before you make a purchase with prepaid credit cards. Let's look at how both cards work to determine what you may want to do.The prepaid credit card will have a start up fee as well as a reload fee. Some of these cards even have a monthly fee or transaction fee. This is how the credit card makes their money because they don't have the interest rate. You are taking a portion of your earnings and sending it to the credit card company. When you walk in a store with the prepaid credit card and have it swiped for a purchase you are actually deducting from the balance you placed on the card. It is essentially an ATM card with fees and more control. Once the balance is at zero you either reload or close the account. There are several reasons for this type of … [Read more...] about Credit Cards with Zero Interest
Jackie, 29, is a New York–based writer with $10,000 and change in consumer debt, spread between two credit cards. Like many of her friends, she got her first credit card in college. During her 20s, she opened three more cards for various purchases — a laptop, post-grad classes — as she worked her way up the editorial ladder. (She has now paid off two of the four cards entirely, although they’re still open.) She recently got a great new job and is now able to cover her living expenses, but her debt seems insurmountable, particularly with the interest rates she’s up against — one card has an APR of 16.9 percent with a $6,500 balance, and the other’s is 19.49 percent and $3,000. The good news is that she’s always paid the monthly minimums (about $115 and $60 per card, respectively), has an excellent credit score, and is ready to tackle her payments more aggressively. Still, the most she can manage is about $400 per month, on top of the $129 … [Read more...] about How Can I Pay Off My Credit-Card Debt?
They're an alluring proposition. Like the mythic sirens luring sailors to the rocks, credit card companies offer nonstop mailings to perspective customers, trying to get them to transfer credit card balances. The credit card sirens offer all sorts of lures, such as low introductory rates, rewards programs, even zero percent interest--yet beware! The rocks of bad credit can be deadly to a happy financial life. So to protect yourself, be sure to follow these steps to knowing which credit card balance transfer options are the best, and which are actually traps in disguise.The first thing you should do when considering balance transferring is to read the fine print of any offer. Therein lies the true intent of the credit card companies--whether they're offering fair ways to better manage your debt, or if they're trying to get you into a situation where they can make the maximum profit off of your misfortune.Not to paint all credit card companies in bad light, because they are some that are … [Read more...] about Finding the Best Balance Transfer Credit Card Offers
In the age of plastic money, everyone is trying to cash in on the best credits provided by banks - which makes credit cards a buzzword today. But the interest rates on these credit cards make people wary of using them. It is therefore, very important to find low interest credit cards. There are various options available in the market and we will help you choose low interest rate credit cards and cheap credit cards.Low Interest Credit CardsWith banks heavily commercializing the credit card, there have been a plentitude of low interest credit cards. Many banks provide zero percent APR (Annual Percentage Rate) on balance transfers and purchases made during the first 12 months. These credit cards offer you safe, secure, and free online transactions and account management tools.Many credit cards offer cash back on purchases made by you. You just have to find the best percentage of cash back. You will also get some points when you buy purchase things like a new car, an SUV or perhaps a … [Read more...] about Choosing the Best Low Interest Rate Credit Cards