The Cycle of the 0 Apr Balance Transfer Credit Card Routine

The APR (or annual percentage rate) of a credit card is important as it determines the interest you are required to pay on the balance of your credit card from the company that issued it. Many people get in a jam where they have several cards they owe on and the interest is from 12-22 percent. They are not able to pay the balance each month so this really can add up.

In this situation ,it can be helpful to find out about the 0 apr balance transfer credit card. You probably receive these in the mail daily or weekly. Keep in mind that these cards are useful but they are time-limited. This means that after a certain period of time the 0 apr balance transfer credit card will go up to a normal or high interest rate and if you have a balance you will be required to cover this.

This can help slow down the rate which your credit card debt accrues but if you are spending more than you bring in in terms of income, this will regrow again. Each month you don't make the full payment but only make the minimum payment on your card, the leftover amount is charged the interest rate and this can grow quite rapidly , depending on your spending habits. Things get worse if you don't even make the minimum payment as you are then charged a late fee as well, so always make the minimum balance and keep track of the deadlines they give to receive the payment. Sometimes you can call them the last minute but that can resolve in a 10.00 or more pay by phone fee.

In conclusion the 0 apr balance transfer credit card is useful to move credit card debt from cards but the problem is that if you continue to spend more than you bring in to the point of only making the minimum payments with each statement. The same cycle can occur again.

Dee Cohen is a publisher and author at http://www.money-rocks.com/0-apr-credit-cards.html . Learn the best way to deal with the cycle of 0 Apr Balance Transfer Credit Card to stop juggling and moving debt around.