Articles
Stop Paying Interest on Your Credit Card
by Kowgirl DearReader
I want to share with you a little trick I have been using with my credit cards
that will eliminate the interest charge.
Everyone gets offers through the mail to apply for another credit card at least
twice or more every week. Don't throw them away they may be just what you
need to stop paying interest on your old card. Read them very carefully and
check to see if they offer a "NO INTEREST" for 12 to 16 month if you will transfer
your account to them. Most bank credit cards have this offer. Now check to see
if they charge for this transfer, most don't.
Then do that transfer. It may take a while before you get an answer from them
so don't stop making payments on your old card yet. After your transfer has been
approved you will start to make payments on your new card. Now while the "no
interest" is in affect every payment you make will be toward your principal. Now
is the time to start paying just a little more than the minimum payment. A small $5
added each month will help bring the credit card down.
If you owe up in the thousands and 12 to 16 months isn't enough time to get it paid off
then try doing another transfer to a newer card with a "No Interest" transfer again. BUT
be sure there isn't a charge against you if you do this transfer. If it is only $50 to $75
charge you may consider doing it anyway because you would pay more than that in
interest over a period of 12 months.
Don't close the account on your old credit card keep the account open because this will
help boost your credit rating.
Next I will tell you how to make money with your cash back credit cards.
P.S. You may get a letter from the bank or company you got your old credit card from asking
why you dropped them. Do not hesitate to tell them that the interest rate was higher than
you felt comfortable with. They don't want to lose a paying customer and may offer you a great deal.
eader
I want to share with you a little trick I have been using with my credit cards
that will eliminate the interest charge.
Everyone gets offers through the mail to apply for another credit card at least
twice or more every week. Don't throw them away they may be just what you
need to stop paying interest on your old card. Read them very carefully and
check to see if they offer a "NO INTEREST" for 12 to 16 month if you will transfer
your account to them. Most bank credit cards have this offer. Now check to see
if they charge for this transfer, most don't.
Then do that transfer. It may take a while before you get an answer from them
so don't stop making payments on your old card yet. After your transfer has been
approved you will start to make payments on your new card. Now while the "no
interest" is in affect every payment you make will be toward your principal. Now
is the time to start paying just a little more than the minimum payment. A small $5
added each month will help bring the credit card down.
If you owe up in the thousands and 12 to 16 months isn't enough time to get it paid off
then try doing another transfer to a newer card with a "No Interest" transfer again. BUT
be sure there isn't a charge against you if you do this transfer. If it is only $50 to $75
charge you may consider doing it anyway because you would pay more than that in
interest over a period of 12 months.
Don't close the account on your old credit card keep the account open because this will
help boost your credit rating.
Next I will tell you how to make money with your cash back credit cards.
P.S. You may get a letter from the bank or company you got your old credit card from asking
why you dropped them. Do not hesitate to tell them that the interest rate was higher than
you felt comfortable with. They don't want to lose a paying customer and may offer you a great deal.
eader
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About Kowgirl 
74 connections, 1 recommendations, 206 honor points.Joined APSense since, May 19th, 2007, From Unknown.
Created on Dec 31st 1969 18:00. Viewed 0 times.
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