How to use 0 APR credit cards efficiently

For those who are looking to save money in interest by transferring balances from a credit card with high APR to a credit card with lower rates, 0 APR credit cards should be of particular interest to them. These cards will require one to make minimum payments during the intro period (which will usually last for up to 12 months) with no interest whatsoever. If a transferred balance is great these savings may be quite significant. However if paying off the balance within an intro period is not an option, then one shall look for a card with a fixed APR for life of transferred balance. Otherwise he or she will end up with a high or regular interest at the end of the intro period and will have to start paying it as well (or to find a way to transfer it to yet another low interest account).

Remember that “jumping ship” every time the intro period is up may not be the best practice. Opening a new account will bring your credit score down. It is not a fact that the next time you apply for a card you will get it. Additionally almost all balance transfers will be accompanied with a fee (percentage of the balance), which is paid up-front. This is less efficient than paying it over time as low interest. So if you are planning on paying off your current balance for a few years, look for a balance transfer credit card with a low fixed interest rate for life of balance.

Vote for your Favorite Credit Cards

How many credit card websites will let you vote for your favorite credit card and determine in a fair way which credit card is really the best. I have not seen any that do, although some do let users leave their comments. Now you can both leave your comments and put your vote for the card you know is good. This will help other credit card consumers to pick the best that’s out there for them. To do that…

Visit CreditCadMix – Best Credit Card Deals Online and check out their online credit card forum. It is set up in such a manner that each credit card category they have in their catalog is subject to people’s review, critique or just attention.

This is a really good chance for all of us to tell other guys like me and you what is best and not expect some biased opinions sell to us what they think is. So, check out these guys and put your vote to use!

More on Gas Savings

In addition to our previous post we are making a little note.

Just a few days ago YourOnRamp featured an article called Internet Saves Gas Money. This post is dedicated to saving on gas with the help of online services. The author of the article has mentioned PumpAndSave (thank you!) as one of the best websites for gas credit cards and gas saving tips. The article also covers other websites that along with PumpAndSave may be useful to people looking to save at the pump. If you are interested in the subject, follow the link above.