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Taking Advantage of 0% Balance Transfer Offers

A few years ago, Glenn hiked the Appalacian Trail and asked me come along for some of the fun. I stayed 5 weeks and by then my feet needed a serious rest. I spent 2 hours in a car with the nice man who shuttled me from the trail to a motel that got me near a place where I could rent a car for the long drive back home. We had a nice visit during that car ride, and one thing he asked me was, "What's next?". I thought about it a minute, and decided that it would be a good time to focus on getting my finances in order. So I told him I wanted to pay off my credit card debt. He had some really good advice for me.

He asked me if I ever got offers in the mail to transfer my credit card balances to a 0% balance card. He wanted me to be aware that these offers are real. Often, the places who offer these deals, allow you a year of 0% interest to transfer your credit balances from your existing cards to their card. That was a real eye opener for me. I had just been throwing those offers in the trash. If I could be approved for one of these offers, it could really help me reach my goal of paying off my credit card debts in full in the shortest possible amount of time.

Once I got home I looked at my 5 week's worth of stacked up mail, and sure enough, there were a few of those offers sitting there. I chose a well-known name and applied. Happily I was approved and all my credit card debt was transferred to that new card. I hunkered down and paid off my debt all within that year of 0% interest.

I kept that card, but have generally left it at a 0 balance. Occasionally they come back and offer the same deal to me. As long as that card is used for absolutely nothing else, the percentage rate for balance transfers, when they offer such a deal, has been 0%. And it's usually good for one year.

I am now at a place in my life where I would really like to pay my balances off in full each month. But the advice of my shuttle driver, and this credit card offer, has really helped me stay in control of my financial situation. I just want to make people aware that the help is out there.



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