5 Pros Of Owning A 0 Apr Credit Card
When you get the offer in the mail for a 0 APR credit card, you may be tempted to throw it out, thinking that it is too good to be true. But before you toss it in the circular file, take a good look at it. When it comes to owning a 0% interest card, there are some advantages that could be helpful in ways you're not aware of yet.
One of the things you can do is transfer the balances of your high interest credit card. If you have a credit card that you use often but can't seem to pay off, you can transfer the balance of this card to your new 0 APR card. If you've stopped using your 20% interest card because you can't afford the monthly payment, then this is a great option for you. You can not only pay off your other balance, but you can also get your purchasing power back.
Into one card, try to consolidate all credit card debt. For people with several credit cards that are maxed out, consolidating them all onto one 0 APR card is the perfect way to pay down the debt quickly. Rather than your monthly payment only going to the interest, the principle for the whole 0 APR introductory period can be paid off.
Another great option is to transfer high interest loan balances. If you have a car loan that is at an exorbitant interest rate, this is your chance to pay off the loan with no interest. Pay it off at the bank with the 0 APR credit card and then make your interest free payments to the card to pay off this balance.
Another option is making big ticket purchases with no interest financing. Planning to buy some furniture or an appliance? Want to buy some plane tickets to Europe? Use your 0 APR credit card to finance the purchase of these items at 0 percent interest.
Improving your credit is important. When you pay your bills on time each month and the balances from other cards or loans, not only are you improving your credit score buy your chances of getting future credit offers have also improved.
One of the things you can do is transfer the balances of your high interest credit card. If you have a credit card that you use often but can't seem to pay off, you can transfer the balance of this card to your new 0 APR card. If you've stopped using your 20% interest card because you can't afford the monthly payment, then this is a great option for you. You can not only pay off your other balance, but you can also get your purchasing power back.
Into one card, try to consolidate all credit card debt. For people with several credit cards that are maxed out, consolidating them all onto one 0 APR card is the perfect way to pay down the debt quickly. Rather than your monthly payment only going to the interest, the principle for the whole 0 APR introductory period can be paid off.
Another great option is to transfer high interest loan balances. If you have a car loan that is at an exorbitant interest rate, this is your chance to pay off the loan with no interest. Pay it off at the bank with the 0 APR credit card and then make your interest free payments to the card to pay off this balance.
Another option is making big ticket purchases with no interest financing. Planning to buy some furniture or an appliance? Want to buy some plane tickets to Europe? Use your 0 APR credit card to finance the purchase of these items at 0 percent interest.
Improving your credit is important. When you pay your bills on time each month and the balances from other cards or loans, not only are you improving your credit score buy your chances of getting future credit offers have also improved.
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