One of the well-known uses of 0 balance transfer credit cards is for balance transfer as its name implies. This kind of credit card is useful if you do not want to have great volume of interest rates on your principal loan or debt. With the use of a zero percent interest rate card, you can pay all your bills timely in a very convenient way. It is very convenient especially if you have other finances you have to pay every month. The zero interest credit cards will protect you from falling into huge debt. The following are ways of how to use you zero percent interest credit card genuinely.
- It is important to know if the card you want to purchase is offering zero percent for balance transfer. You have to know not all zero percent interest cards can provide balance transfer. There times when this is only offered for cash advances and purchases. Avoid jumping into the offer right away. You must first learn all the conditions within the zero interest promotion.
- Know need to know if you can transfer your balance to the zero percent interest cards to another zero percent interest card. You can only do this if there is no required fee for transferring your balance from your former zero interest cards to the new one. In case of charges, you have to know if the fee is lesser than paying the interest of your loan. There are cases when the fee is larger than the interest rate.
- Once you transferred your debt to your newest 0 balance transfer credit card, you must avoid using it for any kind of cash advance or purchases. This will prevent you from gaining huge debt. Avoid developing the habit of always using your zero percent interest credit cards to all your purchases thinking it will not gain any interest at all. Always bear in mind to purchase only what you need, because zero interest is only for a limited time. Continuing a bad practice of using your card might end up in deep debt. It might be too late for you to realize zero the percent offer has expired and all the debt begun to gain interest.
- You must determine the right period for you zero percent interest. It is very important for you to know when this offer will last, to prevent you from getting into huge debt if the offer suddenly expires. This is to prevent any surprises when you suddenly receive a bill regarding your balance.
- To manage your 0 balance transfer credit card, you can create a time table after knowing the time period. It is better if you will pay your debt as soon as possible. Do not use all your money to pay for as quickly as possible, because you might end up using your other CC for your financial needs.
