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Credit cards are very useful. Normally there is no requirement of any collateral, and the amount of credit is fixed
on the basis of the perceived creditworthiness of the primary holder, which is usually dependent on the
person’s credit score.
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Evaluating 0% Balance Transfer Offers
By Elizabeth Williams
Good money management is more than just being frugal with your money. It also involves keeping
your eye out for opportunities to save more money over the long run with the debt you already have.
Using a 0% balance transfer offer on a credit card, for example, can save you hundreds or thousands
of dollars in interest expenses.
Balance transfer cards are nothing new, but it's surprising how many people forget that they are a
viable option for saving money. People with high interest debts can take advantage of a no-interest
promotional offer from credit issuers, and enjoy a set period of no interest repayments. When your
entire monthly payment goes toward the principle balance, you'll pay the balances off rather than just
paying interest and finance charges.
When evaluating credit cards and the 0% balance transfer offers, here are some points to consider:
Consolidating Balances. You want a card that has enough available credit that you can consolidate all
balances from higher interest credit cards onto the new card to receive the benefits of the 0%
promotion. Make sure to read the fine print of the offer, to understand how much in fees your
transfer(s) will cost you, and whether or not you will still save money on the balances if you transfer the
balances and pay a fee. Keep in mind that you will be saving possibly hundreds of dollars on interest
charges which should help you pay the balances off much faster than you would have otherwise.
When the Promotion E