The media tell us that borrowing money or having a credit card is not good for finances. But in today's fast paced, high priced, online world, having a wallet that includes one or more 0 balance transfer credit cards is essential. That's because 0 balance transfer credit cards help you avoid paying expensive interest rates on your purchases. But you should know these 4 facts in order to use your 0 balance transfer credit cards like a pro. 0 Balance Transfer Credit Cards Tip #1: Know that there's a difference in interest rates. Be aware that there is often a difference between balance transfer interest rate and purchase interest rates. 0 Balance Transfer Credit Card often charge a higher an average interest rate on purchases even while offering no interest on transfers. Therefore, use your 0 balance transfer credit cards only for transfers. 0 Balance Transfer Credit Cards Tip #3: Know what gets paid off first. Frequently 0 balance transfer credit cards will take any payment you make and apply it to the lower interest card first. Then, and only then, will they apply it to higher interest rates. 0 Balance Transfer Credit Cards Tip #3: Know that there's a time limit. The easiest way to pay little or no interest is to pay money with your regular credit cards, transfer that money to your 0 balance transfer credit cards and pay it off there. Make it a habit to regularly transfer your money so that you aren't stuck paying high interest on your regular cards, but also make sure that you pay off your 0 balance transfer credit cards quickly, too. Sometimes 0 balance transfer credit cards will have a time limit before the zero percent kicks up to a higher amount. 0 Balance Transfer Credit Cards Tip #3: Know YOUR limit. Having a few credit cards is important, and one or more of those credit cards should be 0 balance transfer credit cards. However, don't make the mistake of assuming that these cards are a license to spend. On the contrary! Use them carefully. Keeping a few credit cards in your wallet is a good financial practice, and a couple of 0 balance transfer credit cards are great to have. Just make sure you know all the facts first!
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