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Building debt is a problem many consumers face
but there is a solution that can help you lower your monthly
interest on your credit card debt, balance transfer credit
card offers. Applying online for balance transfer credit card
offers can save you thousands of dollars so it is something
to take seriously.
There are 2 different types of balance transfer
credit card offers that you should be aware of, firstly the
0% offer for a 6 month period. So while the balance is in
this promotional period you would pay no interest on the debt
and anything you pay off the card will come straight off your
balance. The trick with these offers is to use them wisely.
If you take a 0% offer for the first 6 months and then leave
the balance on the card, you'll save some money but you will
pay a higher rate of interest afterwards. There is a solution,
apply for a new credit card with a promotional balance transfer
every 6 months, so when one offer ends you can switch it to
the new card and still pay little or no interest. This is
the best way to make the most of balance transfer credit card
offers.
The other option is balance transfer credit
card offers that have a balance transfer rate not for a certain
period of time but for the life of the card. This is usually
around 4-6% APR so you will still save a significant amount
of money compared to 18% or 19% interest rate.
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