We are all feeling short of cash at the moment.
0 balance transfer credit cards can help enormously.
If you owe a large amount of money on your credit card or cards it can feel as though you will never pay them off.
A 0% card may well get you through until things improve.
With credit card companies looking to maximise their profits many people with a large debt on their card are finding their interest rates are being increased.
These cards are offered by many card companies and are a great way to get control of your debt.
What is a balance transfer? Put simply it is what happens when you pay off debt on your old cards with your new one.
* Say you have 2 cards a and b owing $2000 on each.
* You get a 0% balance transfer card c.
* You ask c to transfer the debt from a and b to c * C pays off a and b and your debt is now on c at a low rate! So you now owe a and b nothing as the debts have been paid off by c at hopefully a special cheap rate.
Usually these great, money saving deals are offered to new cardholders only and you have to move the debt in the first 60 days.
However some companies offer cardholders the chance to get a 0% deal.
0 balance transfer credit cards are a great way of getting control of your finances as long as you remember the tips above.
After your balance transfer, put the card away, do not use it and make payments each month.