Use Your Good Credit to Consolidate Debt & Save Money

If you are like me, you receive multiple 0% 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 0%
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. That's 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 hadn't
spent a dime in interest! The other option would have been to
transfer the balance once again to a NEW 0% 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 0% 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 0% apply to balance transfers only or to
purchases as well? How long is the 0% promotional period? Know
the terms well or this 0% card could cost you more than that 18%
card you're 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!