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If you carry a balance on the card and to pay a high interest rate, using a balance transfer credit card that offers a 0% APR for 1 years, a good way to save money. There are literally hundreds of online offers for balance transfer credit cards that charge no interest for up to 1 years. And with interest rates! hovering in the mid-teens, there's really no reason not to use to respond to these offers.
Let us start with examining howYou can save a lot with a 0% balance transfer credit card. Assuming that your interest rate is close to the national average of 15%, every $ 1000 you can carry in credit card debt will cost about $ 150 per year. Based on generally accepted estimates, the average household size is around U.S. $ 8000 in credit card debt. This means that on average people are paying $ 1200 or more per year to their credit card companies. The sad thing is that there is really no reason to waste thisMoney.
0% APR balance transfers are an easy way to stop interest expenses arising from and to help consumers pay off their credit cards. Plus, finding a good balance transfer offer credit card, your application online, and transferring a balance is a simple process. Here are some tips to maximize the savings you can get with a 0! % balance transfer to:
Tip 1: Consider the app! lication for a credit card, a 0% interest offers onPurchases and balance transfers for 1 year. Some credit cards only offer 0% rates on balance transfers. When you apply for one of these cards, and make new purchases with this card, or your old credit card, you receive interest payments again. There are tons of credit cards offer a 0% APR on purchases and balance transfers. Apply one of these and you will receive a full year leave of interest.
Tip 2: Apply for a different brand of credit card. IfYou do not have a credit card from Bank A, you will be able to strike a balance, a new card from the same bank transfer. Fortunately, there are a lot of companies with 0% balance transfers, so that the search for a different bank should be no problem. This does not mean that if you can hold a visa, you do not apply for another visa, visa cards that are offered by a number of banks.
Tip # 3: Apply for more than a balance tran! sfer card. Many companies offer tiered Interest rates. For example, someone with excellent credit can be a 0% APR for 1 year and 11% APR is over at 0%. A person with average credit will also get the 0% for one year but may be offered a 15% interest rate after the 0% flow. If you are applying for more than one card, you can access your balance on the card that the best interest rate after the 0% period has expired transfer.
The decision to cash balance with a 0% save> Transfer credit card is a breeze. If you pay interest on your credit card, you can stop this negative cash flow in a few minutes, by-line for a new 0% credit card. With so many offerings, there's really no reason to waste money on credit card interest. Unless, of course, you feel bad for the credit card company and they want the money.
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