0 apr on balance transfer0 APR on balance transfers are one of the easier ways to accelerate the paying down period of existing credit card debt. To take advantage of this structure, you simply have to transfer your existing credit card balance from the high interest rate credit card to the new credit card with 0 APR introductory offer, which typically lasts for 3 to 6 months. To achieve maximum benefits from a zero percent interest rate on balance offer, you typically have to make sure that you pay off the balance before the introductory APR rate effectively ends. The balance that rests on the 0 % APR account, you are not paying any interest for the duration of the introductory offer, which translates to there being more money available each month to paying off principle balance. The net effect should be that you end up paying off the existing credit card balance much faster than previously possible without the balance transfer to a zero percent APR account. |