20,000 Credit Card Debt
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How I found a good zero percent credit card


What a wonderful world it would be if the world was filled with zero percent credit cards instead of the ridiculous 30% interest rates (and higher) that you see so often these days.

If you have very good credit (650 and above) and do some searching you can find a good deal if you want to transfer a credit card balance from one card to another.

Recently State Farm Insurance had a true 0 credit card transfer offer. The offer was good for a full six months. I paid for part of the tuition for one of my kids for the fall semester. I think the tuition cost was about $5,000. So when I saw State Farm's offer in a pack of info I received from them i grabbed the phone to find out if this offer had any traps to get more of my money.

The only thing I had to watch out for was paying the monthly payment on time. The fine print said that my interest rate on the loan would jump to about 9% if I was even a day late. The icing on the cake was that there was no transfer fee!

Guess which credit card I paid first each month? You bet! I am pleased to say that I paid off that loan in six months. This means I saved about $300 in interest payments. 

 

 

 

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