28. April 2017 Debt 0
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So you are young, healthy, and have a lot of good things going for you.

But then again you also have that one not so good thing going for you!  Your credit card debt, and its about to hit over $20,000 this month.

You have been paying the minimum balance each month but your bill just seems to be growing.

You know you have to do something and fast but don’t know where to start.

This is where I can help!

Credit card companies make bank each year off of interest rates and they know the more customers they have the more cash they make.

So it shouldn’t be a surprise to you that these companies create incentive to convince you to switch over to their credit cards. One incentive that you can use to your advantage is the 0% Balance Transfer.

What is a 0% Balance Transfer? 

A 0% Balance Transfer is when a credit card company doesn’t charge you interest on debt you already accrued.  When you move the balance over to their credit card. The 0% APR or interest rate is usually only good for a certain amount of time before it goes up.

So how do you find the right credit card with a 0% balance transfer?

    1. Go to I like to use Bankrate because it is easy to navigate and you can search by balance transfers.
    2. Click on Credit Cards.
    3. Under Compare Cards click on Balance Transfer.
    4. Look for credit cards that offers $0 in Annual Fees. You don’t want to add more debt onto your already overwhelming amount due.
    5. Look for the credit card that has longest 0% Balance Transfer time period. Make sure to tap on the link and read all the fine print. There are some companies out there that charge a percentage to transfer your debt.
    6. Look into interest rate for new purchases. A lot of times the credit card companies won’t charge you on your transferred debt but will charge you high rates on any new purchases made.  So make sure to do your research.
    7. Sign up for the card and transfer your debt over to the new card.
    8. Once your debt is transferred make sure to go into your calendar and set a reminder one to two month before your 0% offer expires. Trust me on this you will forget and you don’t want to be stuck with high interest payments again. When your reminder goes off start looking of new 0% Balance Transfer cards to move my debt to.

The best offer I found at the time of this post was the Chase Slate® card. Chase offered a $0 introductory balance transfer fee for transfers made during the first 60 days of opening the account and they offered a 0% Intro APR for 15 months on purchases and balance transfers. This means you don’t have to pay interest for 15 months.

Once you are all set up with your new 0% balance transfer credit card make sure to go over your budget and pay the maximum you can afford each month with out adding additional charges to your credit card.

Then watch your balance go down!

Best of Luck!

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