0 Percent Balance Transfer Offers Still Exist

Are You Ready To Lower Credit Card Payments?

Better Credit Cards

So many people have been affected by increased interest rates on their credit card balances. These increased APR charges are often explained by a bored customer service interest agent as being because of something on a credit report. But many of the people who have been hit the hardest have actually improved their credit between the time they applied for the credit card and the time the APR was raised. And many of these same people are frustrated, but since they cannot pay the full balance right now, they just let it go.

However, you can save yourself some money and vote with your “feet” if you can transfer that balance to another credit card with a lower interest rate. Believe it or not, there are still (DRUM ROLL)….

0% APR on Balance Transfer Credit Cards! (CLICK FOR OFFERS)

Is it worth it to look for lower interest rates? I believe I can demonstrate that it really is worth it to spend a few minutes looking for good interest rates. Consider some simple examples.

If you carry $1,000 on a credit card, which is not that high compared to what many people struggle with, you can give yourself a much better chance to get that debt paid down if you can lower your interest rate.  The higher the percentage rate, the more money you have to pay every much just to service the interest. That means that less of your payment goes to actually paying off the debt.
Low APR vs. High APR Credit Cards

Look at a simple example. Let us say you have a $1,000 balance, and you can pay $100 a month on the balance.

• At a 5% APR it will take 11 months to pay off your $1,000 balance.
• With a 21% percentage rate, it will take you a year to pay off your balance.
• With a 0% APR, it will only take you ten months to pay off your balance.

Now those differences may not seem that extreme. But think about it. You could have saved $200 by taking advantage of a 0 percent balance transfer offer. You also can get your loan paid off 2 months faster, so you can start saving money or getting another credit card paid off! Also remember that I only used an example of a $1,000 debt. Many Americans carry much higher balances.

Now consider a $5,000 debt and $100 monthly payments. At 0%, it would take 50 months, at 5% it would take 56 months (an extra half a year), and at 21%, it would take 119 months, or over twice as long, to get that debt paid off! 

Taking a few minutes to find a better deal can really pay off.

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