Everyone has credit cards these days, which means most of those people have debt on them. Simply based on this recent article in USA Today it shows that 50+ year olds alone have around $8,000 in credit card debt, with a younger generation around $6,000 in credit card debt. You can only imagine the amount in interest that is compounded. There are options you can consider when it comes to credit card debt to alleviate some or all of your credit card interest charges.
Balance transfers are a great tool that most credit cards will offer. Typically there is a pre determined fee+% and then interest is accumulated once the balance is transferred from the old to the new account. There are however great promotional offers from time to time that offer no fee and 0% APR on balance transfers for X months. Below are a few great, current, balance transfer offers you might be interested in considering, many more do exists. In a sense, you can consolidate multiple credit card balances that you are paying interest on to a single 0% APR credit card via a promo and make a single payment a month (although the amount may vary).
Slate from Chase-The card features a 0% Intro APR for 15 months on purchases and balance transfers (variable APR of 12.99%, 17.99%, or 22.99% after the introductory period ends). Also, transfer a balance during the first 60 days your account is open, and as an introductory offer you will pay no balance transfer fee. After the first 60 days, the fee for future balance transfers is 3% of the amount transferred with a minimum of $5. Note: I recently took Chase up on this offer and transferred all my credit cards to this one.
Citi ThankYou-Earn 10,000 bonus ThankYou® Points after you make $500 in purchases with your Citi ThankYou® Preferred Card within the first three months after opening your Card account – then redeem those points for $100 in gift cards and certificates. Plus, 0% APR on balance transfers and purchases for 12 months.
Always remember to perform your own due diligence before making any financial decisions as everyone has their own unique situations. Please do not consider anything in this or any post financial advice that you should take me up on and do/apply to your personal finances. I just share my thoughts and hope you like them 🙂