0 balance transfer credit cards are the only way to clear your debt these days unless you fail to make your payments and decide to go with a debt management system…
The only problem with not paying and defaulting, causing debt recovery etc is that you’re credit score will be permanently affected by your actions. Financial institutions will no longer tolerate bad debts and often go to extreme measures to collect their payments. This is why you should really attempt to pay off your balance before anything worse happens.
There really is no way to stress this more, you cannot spend any more on your credit card if you are trying to lower your balance. People try to lower their credit card balance because they are struggling to pay off the minimum payment. This is when you swap your balance to a 0 percent interest on balance transfers credit card. This way you don’t pay any interest and every payment you make off your balance will count. This is why you cannot under any circumstance believe that you have been afforded an opportunity to spend more money. Credit card companies will also try to make you spend money by offering you 0% on your purchases, but you must remember that this offer is usually only for 3 months and as soon as that period is over you will begin to make interest payments on what you’ve spent, even if your balance transfer gets no interest.
Tags: 0 Balance Transfers, credit cards
