With the annual holiday gift buying season approaching you may already be starting off in credit card debt. With more purchasing than usual at this time of year you may be about to spend a lot more than other months without even realising it. If that happens it is highly likely you will be kicking off the New Year with more credit card debt than ever. Now therefore is a great time to consider a new credit card with 0 per cent interest rate offer promotions.
0% Interest Credit Card Offers & Promotions
Many people do not realise that there are ways to save hundreds of dollars in bank fees and credit card interest payments. The best way to get temporary financial assistance is to consider switching your credit card provider. With the credit card industry being super competitive currently, many providers are offering a “0% Interest” special introductory offer. Some providers may offer this for a period of a few months up to a year and a half!
Saving Money with a 0% Credit Card Offer
If you are used to paying up to 20% interest on your current credit card, having 0% interest applying to your outstanding credit debt is very attractive. Instead of the money that you would be paying on interest alone, you can use this opportunity to pay off your actual card debt. If you have a credit card debt of a few thousand dollars then you could pay several hundred dollars off your credit card each month during the special offer period. This would be instead of just meeting the minimum payment amount which already has a high standard interest rate applied on top.
0% Interest Rate Promotions Offers; Shop Around!
If you are considering taking advantage of any 0% interest promotion be sure to look around for the best deal. Look around online to compare the best credit card promotion deals. Put a shortlist together of 2-3 providers you think best suit your personal situation. If you feel more comfortable talking to someone you can then give them a call or visit their local branch or office. Be careful that while some providers may offer 0% for longer periods of time, their on-going usual interest rates may be a lot higher than others. So you could end up paying more in interest repayments later than you are now.
New Credit Cards = Great Debt Consolidation Time
Every time you apply for a new credit card it gives you the opportunity to consolidate or merge a lot of your current debt. Combining credit card debts across three current cards into one new credit card with a 0% interest rate period is a great way to reduce overall debt. You will also have just the one simple repayment to make. This will help you keep better track of your spending, your debt and the interest you pay once any introductory offer ends.
So after the festive season, welcome the New Year in with less credit card debt by considering a new credit card offering a 0% interest rate promotional period. You will feel a lot more positive about the year to come! For more interesting Personal Finance articles be sure to visit other Daily Club articles here.