Yesterday while at the mall, I overheard a conversation between two friends at the check-out line maxing out their credit card limits. They were also complaining about the interest rate they were paying. I couldn’t help but wondered why they didn’t try to apply for the balance transfer credit cards, or 0 APR balance transfers.
I am not sure if people just like to complain, or they just don’t know about money talk. But I am sure everyone knows about searching on the internet, it works for almost everything, even for low interest rate credit cards. The credit card calculator on balancetransfers.com lets you input the amount owed and the APR % so that you can find the saving offers. If anything, you could use this calculator with your current credit cards and see if you could save on the current interest rates you are paying.
Interest rates on credit cannot be deducted through income tax, so it is money that is never going to come back. There are ways to save money, we are just too busy sometimes to think about being creative, but if you have credit card debts the first thing to do is check to see if you can lower your interest rates. It takes time, but when it comes to finance you can afford to spend some time to boost your knowledge.
Thanks for stopping by today.