Credit cards that offer a 0% APR promotional balance transfer are an excellent way to save money on interest while paying off debt. These offers allow cardholders to transfer their existing balances to a new card with 0% interest for a limited time period. Once that promotional financing rate expires, cardholders then accrue interest charges on their remaining balance at the standard rate.
As great as these offers are, they are not for everyone. Applicants with poor, or even average credit, are unlikely to be approved for most of the best offers. That said, it is a misconception that applicants must have excellent credit to be approved. [click to continue…]