If you are stuck paying high interest on credit card balances that seem to have no end in sight of finally paying them off…
Then applying for a credit card offering 0% APR Introductory Rate for more than 12 months may be just the answer you are looking for.
While some waive the balance transfer fees for the first few months of you opening the account, for the most part, there will be a balance transfer fee involved (about 3-5%).
But when calculated, it will be less than having to continually pay high interest on your current credit cards when you total-up a year’s worth of payments in interest…. especially if you are only paying the minimum monthly due!
Getting a new credit card offering 0% interest for over 12 months can help you pay down your balances because your monthly payments will be going all into paying down the principle balance.
I am not affiliated in any way with these companies, but have used this strategy of applying for 0% Interest Intro Rate credit cards myself to get out of debt!
Keep in mind: Some require good to excellent credit (FICO 670-750) and it is why they are offering you such great introductory terms. In some cases they offer over 18 months of no interest….
*** THAT’S INTERESTS FREE MONEY FOR OVER A YEAR! ***
Another thing to keep in mind: What will be the interest rate once the introductory term expires? Smart option would be to choose the credit card offering the longest 0% Intro Rate with the lowest APR after the special introductory rate expires.
Here are the ones I have used and recommend:
BankAmericard Credit Card
**Why I like: 0% Intro for 15 months, No Annual Fees, Check FICO Score for free, Balance Transfers made within 60 days qualify for the intro rate and $0 fee.
Wells Fargo Platinum Visa Card
**Why I like: 0% Intro for 18 months, No Annual Fees, Check FICO Score for free, Balance Transfers made within 120 days qualify for the intro rate.
Chase Freedom Unlimited
**Why I like: 0% Intro for 15 months, No Annual Fees, Free credit score updated weekly, Unlimited 1.5% cash back on every purchase!
CapitalOne Quicksilver Cash Rewards
**Why I like: 0% Intro for 15 months, No Annual Fees, Unlimited 1.5% cash back on every purchase!
Discover It Cash Back
**Why I like: 0% Intro for 14 months, No Annual Fees, Check FICO Score for free, Unlimited 1% cash back on every purchase (+5% on selected purchases quarterly)!
Blue Cash Everyday American Express
**Why I like: 0% Intro for 15 months, No Annual Fees, 1% -3% cash back on selected purchases!
So use wisely! If you choose to transfer balances and pay down debt, or use the money to make a short term investment that will turn a profit before the 0% Intro Rate expires, use the no interest term to your financial advantage.
If you are interested in learning more about where and how to apply for a Personal Loan, even though you have Bad Credit…
Then please check out one of our most poplar post here: https://www.buildcreditforyourbusiness.com/bad-credit-loans-where-to-get-how-to-apply-online/
Wishing you blessings along your path to success! 😉