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0 APR Credit Card Transfers

by Samantha Bennet on 2014/01/06

Will it Hurt my Credit to Get 0 APR Credit Card Transfers? 

Getting additional credit and taking advantage of 0 apr credit card transfers will most likely not affect your credit negatively.  Credit card issuers offer promotional annual percentage rates for a given period, which many existing cardholders find favorable in terms of being able to save hundreds to thousands on interest.

Apply for the Top 0 APR Credit Cards for Balance Transfers Here:

However, for those who worry about hurting their score even just a bit, multiple credit card inquiries and rejections can affect your credit but a 0 APR card credit transfer may not.

Getting approved for a new credit card gives the impression that you have excellent credit and it increases your available  free credit.

The higher the ratio of the unused to your used up credit, the better your credit score would be.  For this reason, getting a new one for a 0 apr credit card transfer may even affect your score positively.

Getting a 0 interest credit card transfer will also enable you to pay your monthly dues more comfortably—due to the 0% interest rate.  As long as you pay religiously and completely, then a new 0% APR credit card can only affect your credit positively.

Many people who have credit card debts can afford to pay the principal but stumble on high interest payments, especially only the minimum amount is paid each time.

Also, determine if your debt repayment plan does not increase your credit utilization ratio, so your credit won’t get affected negatively.  Ideally, you should use up a fraction that is lower than 30% of your entire credit limit to improve your score.

Before getting a new card and taking advantage of the 0 apr credit cards for balance transfers promo, make sure to determine if you can truly afford to get a new credit card.

You can get a free credit report and study your chances of getting granted a new 0 APR card.  Then, make sure to commit to pay for your transferred debt within the given time frame to truly benefit from the 0% rate.

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