Is your debt piling up all around you? If so, now may be the time to think about debt consolidation, it might also be time to take a good look through your junk mail. Start reading the fine print on those low introductory rate credit card offers which keep showing up in your mailbox. A low or zero rate on a new credit card may be just what you need to reduce debt and save money.

In many instances, credit card companies can try to entice new customers with a tempting interest rate for a short period of time for signing up for the card. In most cases, the interest rate can be as low as 0% APR. Many times, you can hold onto this incredibly low interest rate for up to a year.

If your bills start stacking up, it is feasible to use this excellent introductory interest rate to your benefit. Don't worry if the interest rate isn't zero, even a low initial interest rate on a credit card can enable you to consolidate debt and make paying bills manageable. Think about consolidating your debt onto your new credit card to save a few bucks and pay down your bill to a more controllable amount. You'll be able to keep more of your money in your wallet if you transfer the balances from your higher rate credit cards.

You can possibly eliminate all of them by paying off the balance during the introductory rate period. Remember, each dollar you pay is lowering the total amount due. This is the secret to benefiting from introductory rates on credit cards to get free from as much debt as possible while the rate is low. Promise yourself to cut down on the extras and pay a little bit extra every month on your card, if possible.

As an example, if you transferred the balances from three credit cards which totaled $1000, you were probably able to reduce your monthly payment, but you don't want to pay just the minimum due each month. Provided you're able to pay extra and stay within your budget, you'll be saving a quite a bit in interest and payments on your debts. Debt reduction using this scheme can be beneficial, but delicate, so be sure to carefully read the credit card's terms and conditions regarding the introductory interest rate. Most credit cards set the low intro rate at six to nine months while other cards might give you up to a year. Keep the expiration date in mind to decrease the unpaid balance so you're not stuck with the balances you rolled over from your original cards when the initial rate runs out.

If you contentiously work within of the terms and conditions of your new card, you can quickly revive your finances using a credit card with low introductory rates to get rid of debt. You may also discover that your bills become more manageable and, in no time, you'll have money to indulge in a few extras.

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