We All, Over The Course Of Our Lives, Sometimes Rely On Credit To Get By. Whether It Is For A Mortgage On Our Home, A Loan For A Car, Or A Payday Loan To Get By Until Next Friday, Theres Little We Can Do To Escape The Effect Of A Debtors Society. But The Way You Handle Your Debt Is Something You Can Have A Say In, And Indeed The Way You Do So Could Mean You Save Or Spend Thousands Of Dollars A Year.Lets Imagine You Have A Few Credit Cards On The Go. One Of Them, The Card You Had Since You Were In College, Has A Few Grand Racked Up On It, And Because You Missed A Few Payments Way Back When, The Interest Rate Is At 19. Ouch.But Most Of Us Never Look At The Interest Rate Were Paying, Because, Quite Frankly, We Dont Give It A Second Thought. MasterCard Says We Owe Them 184 This Month, So We Pay 184.But It Doesnt Have To Be That Way. Many Credit Card Companies Will Give You A Card, Albeit With High Interest After A Period Of Time, That For The First 6 Months To A Year Comes With 0 Interest On All Credit Card Transfers. What This Means Is, If You Use Your New Card To Pay A Big Chunk Of Your Old Card, You Pay No Interest On The New Card For A Set Period Of Time.Now, Of Course Once That Time Is Up, Theyll Put You Right Back On The Expensive Interest Rate, But For A Short Time, The Money You Pay On Your Credit Card Is ALL-principal.Credit Card Companies Dont Like You Doing This Too Much In Fact, Theyll Put It On Your Credit Card Report If You Do It More Than A Couple Of Times But If Youre Looking To Get Out Of A Short Term Financial Logjam, Look For Those Introductory Offers And Use A New Card To Pay Off Your Old Card.Oh, And When You Do Shut The Old Card Down!
