Many credit cards have such high interest rates that it may seem like not much progress is being made on the balance. One of my goals when paying off debt was to complete it as fast as possible.
I transferred one of my higher credit card balances to a new card with a 0% interest rate for a set period. I had to pay a transfer fee but even with that cost included, I saved hundreds of dollars by the time the balance was paid.
This strategy aided in my success in paying off all credit card balances in January.
I wish I knew about this card without transfer fees which would have saved even more! This promotion is no longer available but you can still pay zero interest for 18 months.
Balance Transfer Card
As long as you don’t add new credit card debt, using offers such as the Discover More card mentioned above can be part of of your strategy for debt elimination. I only wish I had the zero balance transfer fee offer when I needed it!
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