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How Being A Player Can Help You With Your Credit Card Debt
For many people reading this the word ‘player’ would be seen as an insult and probably not a word you would normally associate with being sensible with your finances. However, if you have decided to deal with credit card debt, being a player can be very sensible. Let me explain why.
Someone who has big credit card debts will readily tell you about the annoyingly large amount of their precious funds are being wasted away on interest each month. By becoming a ‘credit card player’ you can save yourself the pain of paying this interest and also pay off your card debt a hell of a lot quicker.
How To Become A Credit Card Player
If you do a search for ‘0% balance transfers’ on the internet you will see many companies offering zero interest for a period, sometimes up to 16 months, if you move your card balance over to their card. They do this in the hope that you remain with them when the interest free period is over.
Whether it is out of laziness or just neglect of finances many people do stay with the credit card company, and they enjoy the benefits of receiving money from interest from them until either the debt is paid or decide to transfer the balance at some point in the future. As a credit card player, however, you will transfer the balance to another zero interest card at the point that the interest free period ends. This makes paying off your credit card debt much quicker and cheaper.
The Benefits Of The Balance Transfer Method
By using this method of moving balances over to different zero balance cards, every time you make a credit card payment you are paying off some of the balance rather than a small bit of the balance and a big bit of interest, especially if you only pay the minimum payment every month.
Some companies who offer the zero interest period also offer a low interest rate on purchases made within the period. This may be tempting but if you are serious about paying off your debt as quickly as possible it is much better not to get into the habit of using the card for purchases at all.
Using Caution With Credit Card Debt Transfer
It is vital to bear the following in mind:
Always make payments to your credit card by the correct payment date.Pay Off Your Credit Card Debt in Half the Time
With a little planning and work you can eliminate or reduce your credit card debt in much less time than you probably think you can.
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