Amazing Credit Card Secret - It could save you thousands
Having just posted our “Ultimate 4″ Credit card tips.. I wanted to follow quickly on with an amazing credit card secret that could save you thousands.
Most people have seen this advertised and know a bit about this. And I know most of Investments & Loans readers are already on to it..
Zero Percent on Balances
Do you have an outstanding credit card debt you are trying to pay off? Do you feel like you are only ever paying off the interest earned on your balance?
Almost all credit card providers offer zero percent interest on transferred balances. It is not something new and not something exclusive to one provider or another. You do not need to look very hard to find a dozen different carriers that offer zero percent interest on balances at any given time.
Great Strategy for Debt
As a strategy for paying off debt utilizing zero interest periods is amazing. You can really eat into the balance, and quickly. When every dollar you pay is coming off your balance you will see how quickly your payments start to add up.. and the momentum you gain from seeing the balance start to come down is HUGE.
Some things to watch out for..
There are a couple of tricks to know about when using zero interest transferring as a strategy:
1. Always pay on time. If you are late you will get hit with a MASSIVE interest rate penalty, some cynical minded people would even suggest this is the conspiracy behind zero percent interest, because it often appeals to/targets people that may have less control over their spending and repayment habits.
2. Make sure you know how long the interest free period is for, and to always transfer the balance to a new card when your time if up.. ensuring you keep your outstanding balance in a interest free environment.
