MyMoneyBlog ‘s Best Balance Transfer Offers

About 15 years ago, when I was in a lot of credit card debt, using 0% interest and 0% balance transfer offers were the best way to pay down your debt and not accumulate interest.  This does take discipline.  After running up $10,000 in debt for the second time, I was finally able to find that discipline.  MyMoneyBlog keeps a great updated list of these types of cards when they are available.  I suggest you check it out.

The trick here is to put away your credit cards. Keep one if you can.  I suggest an idea from a old friend from my military days, where he opened a new savings account which he used as his credit limit.  He put money in the savings account, and that was all he allowed himself to spend on the credit card.  He paid off the credit card each month from that account, and then paid himself back in the savings account.

I did that using a good cash back credit card, and kept my main credit card debt revolving on 0% interest 0% balance transfers over a few years to pay down my debt.  It took me 3 years and 3 transfers to pay it down, but I did do it.  It was hard, and not a perfect process.  I did not pay it off in a straight line, but it was nearly so.  The process, and relearning discipline, helped me gain control which has lasted me to this day.

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