O% Credit Cards on MoneyBuzzed.com
0% credit cards at MoneyBuzzed.com
Why would anyone care about a 0% APR on a credit card? Well, for people who have lots of debt, it allows them to transfer high interest rate debt (probably from other credit cards) to the low rate card, and the interest payment noose around their neck doesn?t tighten quite as quickly. Meanwhile, during this time, maybe they can scrounge together some more money to pay down their existing balance.
This has some very interesting tips on how to make your 0% card work for you. I think that in a case like this you would actually have to have some money available for use in times of need. This is not something that can be undertaken by the financially desperate among us. If you followed this advice and did not have a little spare cash and then missed one of the minimym payments then you would be in some serious trouble. This is because the cards that offer the 0% interest rate have very high rates that they end up charging you when you go into default. In some cases the default rate on them may be up to 12 percentage points higher than your other cards. While I am not officially endorsing this practice I think it is something that may be worth looking into if you can afford it.
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