If you are finding it hard to make ends meet and have credit card debt, you may find zero APR credit cards are a way to quickly put money back in your pocket. If you are paying high interest rates on high balances, you can easily save hundreds of dollars every month by transferring your credit card balances to an interest free introductory offer.
These zero APR credit cards provide a 0 interest period after which you will have to pay normal interest rates again, so the longer the interest free term, the better off you will be. Stress caused by financial pressures can affect every area of your life so gaining temporary relief so you can reorganize your finances, adjust your spending habits and reduce your credit card balance can help you get things back under control.
Zero APR credit cards are easy to obtain by searching, researching and applying online. Specialist credit card sites make the whole process easy by presenting you with a small selection of the best cards to choose from. They provide easy to understand, yet relatively comprehensive comparisons between the different cards so you can choose the best one for your personal needs. Look for a card with the longest interest free period, the lowest ongoing rates and charges, low or no balance transfer fee and low standard interest rates once the introductory period is over.
If you transfer your credit card balances to an introductory offer card, you can use some of the interest savings to reduce your credit card balance. This is important because after the interest free period you will have to start paying interest again. The more of your interest savings you can continue to pay on your card, the more you will be able to reduce your actual debt. After all, once your introductory period is ended you will have to pay interest every month on the balance owing. If you have been able to reduce your balance, your payments will be lower. You also have the option to transfer your balance again to another introductory offer to allow you more time to pay down your credit card balance.
Be sure to cancel your old balances when you apply for your new zero APR credit cards, otherwise you can revert to using credit under pressure. Many people have been caught out after transferring their balances or consolidating their debt into a loan, by not canceling their current cards. Banks and other financial institutions do not always do this for you as a part of the process, so you have to make sure you do not continue to have access to this credit yourself.
You spending habits may well have gotten you into debt in the first place. To truly benefit from transferring credit card balances to zero APR credit cards, it is important to overhaul your financial habits. Create a workable budget and live within it. If part of the problem is an inadequate income, take advantage of the breathing space a balance transfer can give you by getting advice, taking action or investing in yourself so that you are able to earn more. It will be easier to do what you have to do to improve your life while you have an interest free period because you won’t be struggling to survive.
