Step Out of the Zero Percent Credit Card Spiral and Get Your Finances Together

There’s something in the water, and it’s bad financial deals. However this time it’s not the credit card company’s fault at all for what you might be dealing with. Sure, they had zero percent offers, but that doesn’t mean that you had to put all of your balances on there and not pay them off. It’s been said that all good things come to an end eventually, and credit card promotional offers are no different. You’re going to need to make sure that you’re focusing on the right approach to your problem. Just burying your head in the sand is only going to make the interest rates climb and the late fees get higher. Ruining your credit merely because you’re not ready to make a good decision? Not a good plan by any stretch of the imagination.

You have to get out of this credit trap. It’s okay if you have spent a little more than what you expected. You were hoping to transfer the balances around and around without paying all of that interest. But if you aren’t proactive you are going to put yourself in a tough position. It’s time to break out, and we have some solutions that you need to check out today.

Zero Percent Credit Card

First, you need to assess just how much your credit rating has fallen. If you haven’t fallen that much, you have a lot more power to change the situation than people that have really bad numbers. The lenders are cracking down on a lot of requests for new credit cards, but that doesn’t mean that the top tier of creditholders are going to be affected. The credit industry knows that they really can’t mess with this crowd. They know that they pay their credit cards on time for the most part, and they are golden customers. Upsetting them as a group would incite a riot. Bad news for the rest of us, but if you’re golden — use it to your advantage. Looking up your credit report never hurts.

If you have good credit still, see about getting some new credit that offers a 0% balance transfer. Okay, we know that we just slammed the zero percent thing, but hear us out: it’s all about perspective. If you’re going to use the balance transfer period to pay off the ENTIRE balance, then you’re in the clear. However, if you’re not going to do that then you’re going to have problems. That’s just the way it is.

You might want to just combine all of your credit cards together. Debt consolidation deals are alive and well, and the amount of interest that you save can be huge. Remember that interest is really your enemy because it can really keep you from getting the type of savings that you deserve. Interest is how the credit card company makes money on their side. You have to be sure that you’re looking at things from different directions. Otherwise, you’ll end up having a really hard time in the long run.

The time is right to really make sure that you get things under control with your credit. You may even want to look into transferring the balance to a “life of balance” style card that will let you keep the same interest rate as long as the debt is still hanging around. This is another powerful way to save money.

Now is not the time to beat yourself up. You made some bad decisions, but that doesn’t mean that it has to be that way for life. The more that you focus on these things, the better off you will actually be in the long run. Good credit is definitely worth fighting for, so don’t give up!