Search

Use Your Good Credit To Consolidate Debt & Save Money

If you are like me, you receive multiple % APR credit card offers on a daily basis. Up until about a year ago, I would just throw them away. Then I wised up and saw an opportunity. Not only could I consolidate my current credit cards, I could eliminate unnecessary interest expenses. I first transferred all outstanding balances from my high-interest credit cards (which were all of them) to my new % card. Now I was only making one payment a month instead of three. I then determined the average payment I would have to make each month to have it paid off at the end of the promotional period. Thats the payment I made each month and it saved me a great deal of money in interest charges. At the end of the promotional period, my debt was paid off and I hadnt spent a dime in interest! The other option would have been to transfer the balance once again to a NEW % card at the end of the promotional period, further lowering the initial monthly payment. I do have a few suggestions before jumping in and signing up for any % card. Compare all that are out there! Read the terms carefully. Is there a balance transfer fee, and if so, how much is it? Does the % apply to balance transfers only or to purchases as well? How long is the % promotional period? Know the terms well or this % card could cost you more than that % card youre already carrying in your wallet. There are a great deal of cards out there pick the one that is the most beneficial to your needs. Best of luck!

Shubham Ganeshwadi

Shubham Ganeshwadi

Hi, I’m Shubham Ganeshwadi, Your Blogging Journey Guide 🖋️. Writing, one blog post at a time, to inspire, inform, and ignite your curiosity. Join me as we explore the world through words and embark on a limitless adventure of knowledge and creativity. Let’s bring your thoughts to life on these digital pages. 🌟 #BloggingAdventures

Leave a comment

Your email address will not be published. Email is optional. Required fields are marked *

Your experience on this site will be improved by allowing cookies Cookie Policy