Friday, 19 August 2016

0% APR Balance Transfer

If you want to learn how to make money in new and interesting ways, one of the best things that you can do is to learn how to make money using a credit card offering a 0% APR balance transfer. What you want to do in order to make this work is to find a 0% APR balance transfer credit card and apply for it. The 0% APR balance transfer part is an introductory offer in 99.9% of all credit cards, so you simply have to find one that offers it, and get approved.


Once approved, you basically have free money - This is because you do not owe any interest for a set period of time, and that is what the 0% APR balance transfer part is all about. The goal that you are aiming for in this instance is to take advantage of the free balance transfer and 0% annual percentage rate or APR to use the money from the credit card to pay off other debts, like high interest credit cards, loans, car loans and home mortgages or home equity loans. By using your credit card money to pare this debt down, you are significantly cutting down your family debt without having to worry about ever increasing annual percentage rates.

Now, the trick here is to completely pay off the 0% APR Home Loan Balance Transfer credit card before the APR rises. There is always a preset introductory time period, and once this has expired, your credit card will suddenly have an APR attached to it, which can easily range from 2-3% to as much as 29% depending on who the issuing company is. By paying off your 0% APR balance transfer credit card before the APR expires, you are eliminating the chance of having to deal with enormous interest rates, which is why you pared down your older debt in the first place.

This is tricky business because it requires excellent money management so that you do not end up owing more debt in the long run. If you are serious about paring down old debts in favor of low interest credit cards and loans, then using 0% APR balance transfer credit cards is an excellent step in the right direction.

[Source: http://ezinearticles.com/?0%-APR-Balance-Transfer&id=1560253]




1 comment:

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