How to PAY OFF Credit Card Debt With NO INTEREST (Balance Transfer Cards)

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We take a look at how you can transfer your balance to a balance transfer card and pay no interest for a certain period of time while you pay off your debt. Examples of such cards include the Chase Slate or Bankamericard Credit Card.
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[goodbyepuppyg]

I owed about $2700 on at least 6 credit cards. I opened up a checking account at a credit union and applied for their balance transfer card with a $3000 limit and was approved so I transferred $2700 to my new checking account that same day and walked out able to pay my credit cards off. Then I applied for their $5000 personal loan to pay off that card and now I have no credit card debt but now I owe for that personal loan but am able to pay it off in low monthly payments over 2 years and all my line of credit is open. I'm able to transfer money from my balance transfer card to pay for my personal loan at 0% for 1 year. I'm paying less than I was when I had 6 credit cards to pay for. Stress free and its less of a hassle. My credit remains good and I'm able to open all my lines of credit for emergencies while casually paying off my loan. I think that even though I owe more now, it's for convenience and peace of mind while building up my credit and future possibilities for purchasing power. When I'm done paying off my loan, I'm applying for a bigger loan.

[DanielSmith-tnun]

In life, debt happens, sometimes a credit card is the Emergency fund, especially if you have children

[taylorjensen]

Life happens. You can be a great saver and then hard times hit. I had to open up a 0% 15 month card to finish paying for my final year of college for my Bachelor's degree. I would rather do that and pay it off then do a 0% interest transfer then get a student loan that charges a ton of interest.

[falcoperegrinus]

Shifu, you left off two of the best cards - 3% transfer fee but a whopping 21 months at 0% APR; the Citi Diamond Preferred and Citi Simplicity. Expect to see these two in the comparison video!

[jmartinez]

Do I need to call the credit card company to approve the transfer??

[aldosalmon]

Shifu thanks so much on that Info truly need that.

[danieldelacruz]

What do you think about the Citi simplicity card?

[JosePerez...]

Awesome Tip ! Always look forward to your review !

[shanenolan]

...does your full limit carry over as well?

[imaginepuppets]

Can I balance transfer then after the first12 to 18 months of zero interest transfer out again to another card if sum has not yet been paid off?

[laurenerickson]

I'm graduating college this upcoming semester and my scholarship just expired, so I really will be quite broke my last semester. I'm thinking that a 0% interest credit card is a great option for me since I really just will use the card for the next four months that I'm finishing up college, then I'll work my ass off, with the credit card being my top priority to pay off ASAP (even though I'll technically have plenty of time). Does this sound like a good idea?

[ifcancanifnocannocan]

So I did a balance transfer and it is 0 interest for 12 months so do I have to make a minimum payment each month or I don't even have to pay anything if I choose to pay it off on the last month of no interest date?

[auggirangel]

Great video Thanks for the solid advice

[Antonioprophoto]

Is it possible to say get a car and then transfer that balance to one of these cards and toward the end of the zero interest time limit to transfer that balance to another transfer balance card? Effectively avoid all interests charges.

[aejazulhaq]

Can you do a video on the Luxury Black Card. Is it really made out to be a contender to the CSR?

[devchatterjee]

I baught a 10000 dollar car on a few credit cards and balance transferred it over

Paying it off in 18 Monson the total interest I paid would be about 200 bucks

[anyone]

If I've never had a credit card do I still need a balance transfer card to start off with I am planning to shift debt at the end of the 0% period to make interest off it but not sure if I need one to start off with if I don't have any current debt to transfer. If anyone could help with this that would be great thanks. Great video by the way simple and to the point.

[kedarampuranik]

Hey ! Quick Q - Can we "balance transfer" to a Checking account ? Specifically Chase Slate/Freedom ?

[zu]

Wish their was one with benefits as well.

[joannesmith]

Can I do this? If I close my credit card, transfer my money to another 0 fee 0 interest for a few months, and then when the zero fee is almost up, re-apply for the previous credit card that I closed in order to get the starter pronotion special of 0 fees and zero interest. Then repeat the cycle. Does this method work, anyone tried it