Almost two years ago I wanted to perform some renovations to my home. To finance the work I used one of my first interest free credit cards. Over the last two years I’ve been paying the debt off interest free. How have I been interest free for over two years when most interest free credit cards only give you an interest free introductory period that only last a few months? It’s called Transferring Balances and you’re about to learn how to do it yourself.
How To Extend Interest Free Credit Cards By Transferring Balances
The concept of transferring balances is quite simple really. It just means that when you’re interest free credit cards 0% introductory period ends, you transfer the remaining payoff amount to new interest free credit cards. Sounds pretty simple right? Well, there a bit more to it that I’m about to explain, read on.
The first thing you want to look for are interest free credit cards that offer the longest interest free introductory period. Some companies offer up to 18 months interest free. This way you don’t have to concern yourself with transferring balance for quite a while. If you can’t find a 0% introductory rate that is that long, no problem, you’ll just need to transfer a bit more quickly than with the extended offers.
Ok, this is important. Don’t sign up for anything until you’ve read this.
Be sure that the interest free credit cards you sign up for have introductory rates that apply to both new purchases and balance transfers to optimize your buying and transferring. If you cannot find an introductory offer that offers both then use the card wisely. If there’s not 0% introductory offer on new purchases than don’t use the card to make new purchases, just transfer your balance, continue paying off your debt and be on the look out for a new card that offers better features เครดิตฟรี กดรับเอง.
It’s OK to be OCD about paying your credit card bill on time every time.
There’s nothing wrong with obsessing as long as you obsess on good things, like paying off your debt. In some cases if you’re late on your payment even once you cancel your 0% interest plan immediately and can be hit with late fees… and that’s not what we want, we’re looking to SAVE money here, right?
Be sure to give yourself plenty of time to find your new interest free credit cards that you will be transferring balance to, sometimes it can take up to a month to get everything worked out. Most online applications for interest free credit cards will give you results immediately but not always. Taking extra precaution and giving yourself plenty of time ensures that you don’t get stuck with unplanned interest fees.
Finally, and this sounds silly but it’s important. Don’t forget to shut down your old interest free credit cards when you get the new one. If you no longer plan to use the card, cancel it completely. Apart from any other benefits canceling your previous card should allow you to qualify for new 0% introductory periods with the card companies you’ve used in the past because you’ll be looked at as a new customer when you apply for your new card a few years later.