A new credit card can be used to help you eliminate some of that debt that you have from other credit cards, and other sources of debt, too. As long as you are able to get another credit card, then you have a great tool available to reduce your monthly payments rather quickly. Here is how you can do it with a new credit card.
Look For 0% APR Interest
Here is one option that can really help you to cut down on the amount of interest that you pay each month on your credit cards. Get a credit card that has 0% APR interest, and make sure that this benefit will last for at least one year. Some cards will only give you as little as three months on this, and others will give you up to 15 months. By putting your credit card debt on the new card, you can literally reduce your interest payments to zero – as long as the introductory offer of 0% stays in effect.
Balance Transfers
This is the feature that allows you to take the debt from one credit card and put it on another. Watch out for a card that has balance transfer fees attached to it, especially if you are trying to reduce your debt – you don’t need another 3 or 4% interest charged for...
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