Want 0% interest on your credit card? Get 0% APR credit cards
Having problems in getting out of your debt? Apply for a 0% APR credit card.
With a 0% APR credit card, getting out of your debt has never been
easier. Here are 5 simple steps on how to take advantage of the 0% APR
credit cards:
1. To get started, apply for a APR credit card which offers half of the
amount your lender is offering. Let"s say your lender can lend you
$20, 000. Get an APR credit with a limit of $10, 000.
2. When you get your 0% APR credit card, make sure to know the period
the 0% APR is offered. You can find this on the fine print of your
credit card. The offer for transferred debt varies from locations.
There are places which offer six months. Other places have one year
offer and few offers more than one year. Knowing the validity of the
credit card is very important. It gives you time to apply for another
credit card.
3. Start applying for 0% APR credit card before the first card
expires. The debt from your first credit card will be transferred to
the second credit card. Please be reminded that the processing of the
credit card can take weeks. Please bear in mind that getting late is
not an option.
4. Before your first
0% APR credit card xpires, transfer the remaining balance of the card to the second credit card. Since this is your
second card, the debt balance is now lower. Let"s say the original
amount of your debt is $10, 000. You have a balance of $9, 300. This
amount will be transferred to the new card. The balance depends on the
payment plan applied to your debt. Make sure that your previous
account is closed.
5. The cycle goes on. As your second credit card is about to expire,
apply for another credit card. There are many 0% APR credit cards to
choose from. Take note of the expiration date. Always keep in mind
that credit card companies take advantage on subscribers forgetting
the expiration date of their credit cards. They get money from
penalties of expired credit cards. Applying for a new card and
transferring your debt to the new card on time, gives you an
advantage.
Paying your debt regularly will free you from debt on time. A 0% APR
credit card is an effective tool and partner to get a very good credit
background. 0% APR credit cards works in your advantage.
With 0% APR, having debt is not scary after all. Let me give you
another tip. Don"t get a credit which offers more than half the amount
of your debt. This has been mentioned earlier. If the credit card
provider gives you a maximum amount of $20, 000, apply for $10, 000.
This will give you enough time to pay off since the amount is smaller. You
should also know how long your payment will be posted and credited to
your account. This depends on what mode of payment is used. Your
monthly payment can be through cash, checking account, credit card or
debit card.
As Henry Ford says, "It"s not the employer who pays the wages.
Employers handle the money. It"s the customer who pays the wages." You
are the customer. The point is to pay 0% interest at all times.
In applying for a credit card your credit background matters most. You
will not be approved for another credit card if you go beyond the
amount or you exceed the credit limit of your previous credit card.
The lenders will look at your credit score/standing based on your
total debt.
Let me give you an example for a clearer view of how this works. You
have credit card debt of $20, 000 with 0%. The validity of the card is
one year. You have no bad record for the past 11 months, so you will
apply for a new card since your credit card is about to expire. What
will happen is that your application will be denied. The reason, you
exceeded your credit card limit. When this happens, your interest rate
will also increase. Many people get caught on this kind of situation.
To avoid this kind of problem, always apply half of the amount the
lender is offering.
The importance of when your payment will be posted and credited to
your account follows. How quickly your payment is credited to your
account is very important. Make sure that the payment that you will be
making will be credited to your account on time. If you will make a
late payment your 0% interest deal will end. The credit card companies
don"t care if the payment is late for a second or an hour. What
matters to them is that you made your payment late. They will be
happy, for you will be charged for late fee. You will also be charged
for the regular amount of debt which can be around 30%.
You have options on which mode of payment is best to use in making
your payment. You can use electronic payments. This will take 24 to 72
hours for the payment to post. Mailed checks take time. A check
payment will be posted and credited to the account after seven working
days.
This is where most people get caught up with. Not having the idea on
when a payment made will be credited to the account, they think they
already made a payment. To their surprise, they receive a letter from
the bank saying their payment is late and they have to pay for the
regular rate.
Dealing with debt is very stressful with banks increasing their
interest rates. This is made more difficult by job uncertainties and
increasing financial crisis. We think that taking advantage of the 0%
APR credit cards is too risky and scary. If this is how you think,
think again. Life is making risk and getting benefit from the outcome.
This applies to
0% APR credit cards. Taking the risk is worth it.
The best ideas may come from people you don"t know. Brilliant ideas
come from nowhere. We are looking for best stories. Your ideas maybe
simple but it can be that we are not aware of them. We are looking for
stories about debt. This can be a success story. I have created a web
site where you can share your experience and ideas. The story is yours
to tell. Share it now!
