Do You Have Too Much Debt? - Your Answer to Debts and Extra Cash

Having debt is like having cancer

Having debt is like having cancer. Slowly, your body degenerates as the cancer cells increase. Likewise, a large debt can slowly eat up your income, your business, and other investments, leaving you penniless or even worse, deficit. And with the global recession that we are experiencing, there is no doubt that you are going to have a hard time repaying that debt.

People nowadays are relying much on loaning money through credit cards for this is an option that is truly convenient. And its convenience is also its disadvantage. This is because the easier you get to borrow, the more tempted you will be to use that credit card. For sure, you will need that extra cash, and one way to earn that is applying for 0 apr balance transfer credit cards.

Balance transfer with 0 APR will not only allow you to save money and relocate your debt, it will also allow you to make money out of it preferably with companies that do not have balance transfer fees. In essence, 0 annual percentage rate or 0 APR balance transfer is the best choice for new card applications. Some of them may even offer cash rebates, high credit limit, and reward points - that is, if youf are qualified. During the 0% introductory period, it is best to deposit the transferred balance to a savings account with high yield. This way, you will be secured that during the transfer period, you are still under the 0% APR interest policy. When the transfer period is over, you must withdraw your money from your account. After which, you must pay back the credit card company and by that process, earn extra cash from the interest.

The extra cash you earn could also become your arbitrage income. But turning this into an income-generating business depends on some factors. To earn larger sums, it is important to submit many applications to credit card companies. Give attention to the total credit limit of the card and the duration of the 0 APR balance transfer. You should also consider if there are one-time balance transfer fees. Currently, there are offers of 12 or even 13 months introductory period from credit card companies. So, start filling out that application and, of course, restrain yourself from any unnecessary expenses. Eliminate that interest-bearing balance you carry heavily on your back and consider going for the option of 0 APR balance transfer.

Do You Have Too Much Debt? - Your Answer to Debts and Extra Cash

By: pollstump

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