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Getting and interest free credit card can significantly help any individual or family carrying credit card debt. If the other credit card debt is established on an account that it already charging high or significant levels of interest, it might be smart to switch to the interest free credit cards. Of course, this plan would only work for the interest free credit cards that allow you to transfer the balance without a fee.
The first step in this entire process is initially establishing the qualification for the interest free credit card account. To do this, you usually must maintain a â€œgoodâ€ credit score. Any score that is deemed â€œpoorâ€ will likely result in your rejection of the interest free credit cards. For your best interest, it is smart to check out your credit score at any low cost or free credit score provider prior to applying for the credit cards.
After qualifying or obtaining your credit score, it is then always smart to research the best interest free credit cards online, then to apply. With most cards, the balance will remain interest free for up to a year or 18 months. In many cases, you will be notified of your acceptation or rejection within minutes of applying for the interest free credit cards online. After this your will receive your interest free credit cards within a week of your acceptance via mail. If they allow you to transfer the balance immediately, then you should get right to it if you are prepared to do so. Since there is no interest involved in these cards, every cent and dollar that you send to the credit card company goes directly to principle.
It would be smart to transfer as much of the balance that you can from the other account to the interest free credit card then begin paying it down. However, it would never be a wise decision to pay it entirely down at one time. If your savings is earning more than the interest on the cards, pay it down over the interest free credit card period. With time and patient you will begin to see the balance dwindle to zero.