Why do we all love spending money so much? Why can’t we be frugal? I guess it is just a part of our human nature and a matter of need, because even if you could take control of your actions you would still have to spend money to buy clothes, food, bills, studying, and any other necessary expenses that you might have. So, we do not only love spending money, we have to, if we can’t spend it on the things we love, we will have to spend it later on things that we need. Some people know this, that is why when they get some money they try to spend it on things that they love or desire, rather than paying for the things that they really need, after they’ve spent their money they don’t have to pay for their bills or any other of their other real necessary expenses, and usually that’s when people fall into debt, usually by getting a credit card and spending more than what they can actually afford.
Most people I know that owe money, owe it to credit card companies, the majority of Americans and U.K residents that I know have some type of credit card debt, and for some people its not even their fault since the system has pushed them to spend more than they can handle, for other people its the totally opposite story they are not pushed into spending they are just uncontrollable spend-a-holics.
If you are a spend-a-holic then you are bound to have debt forever, if you can’t control your spending habits then I will not recommend you 0 credit cards, if you are a controlled person who’s been deeply affected by the economic crisis and the heavy spending needs that are necessary for you and for your family to live a good normal life, then 0% credit cards can serve you well.
0 credit cards are also known as 0 balance transfer credit cards, 0 apr credit cards, no interest credit cards, 0 interest credit cards, etc. These credit cards are great if you have credit card debt, or debt on other stuff, because it can help you save money for a whole year on your credit card debt, because you won’t have to pay for a monthly fee on interest so that you can save enough or come up with a solution to solve your problem.
0% credit cards have lots of benefits, if you have credit card debt on several credit cards the credit card company issuing the APR card will take all of your debts and consolidate them into one big credit card debt, so you will no longer have to pay to all the credit card companies that you owe money to one at a time, you just have to make one big payment on the interest of your whole debt to one single credit card company every month. The cool thing about consolidating debt through 0 interest credit cards is that you won’t have to start paying for interest on your debt during the introductory period, the introductory period can as a long as 15 months, its usually 12, but sometimes you can even get offers that exceed the 15 month introductory period, I guess its all about opportunity and looking around for the best deals. During the introductory period you won’t be charged any interest on balance transfers and purchases, you will be charged an annual percentage rate (APR) of 0% during this time, giving you the opportunity to save lots of money to pay off debt.
Once the introductory period is over the annuanl percentage rate (APR) can get as high as 20%, although it is usually around 18%, this is when problems begin all over again for some heavy spenders because they forget that the APR is back on and they get charged a massive interest rate on purchases, balance transfers and monthly fees on their debt, the monthly fee is usually a percentage of the outstanding amount, and this is when debt comes back to their lives once more. I will teach you a strategy that I developed by using 0 credit cards when I had credit card debt, but I will chat about that little strategy in the future.
If you have credit card debt or any other type of debt and you think that you can benefit from o APR credit cards because you can save money, you can buy time to meet up with the payments, get out of debt, etc. Make sure that you look around until you find the best deal, watch out for the small print because that might be trouble in the future, you can get played by the credit card companies so watch out for the small print make sure that you read thoroughly the contract that the credit company makes. Try to find the best deal, which is the one with the best terms on the contract not just during the introductory period but also after the introductory period is over. I will make a list of the best 0 credit card deals right now on the market later on.
If you can’t take control of your spending habits and you are indeed a heavy spender, and you know that credit cards will always be trouble, then don’t even try to get one of these cards, if you do need a 0 credit card maybe because you already have a lot of debt on other credit cards, then just get one to conslidate debt, buy time, and save money to get out of credit card debt for good, after your out of debt look around your house for some scissors and destroy all your credit cards including your 0 credit cards. See ya!