While the holiday season is generally the happiest time of the year, it is also the most expensive. Between gifts, parties and travel expenses, the cost of enjoying the holidays can be high. Unfortunately, funding holiday expenses with high interest credit cards only makes matters worse. Fortunately, using credit cards doesn't have to increase costs and can actually help you save money.
The key to reducing the cost of shopping with credit is using a credit card that charges no interest for six months to one year. With one of these 0% APR credit cards, you can prevent interest expenses from piling up while you pay down your credit card debt.
Ideally, you will want to create a budget you can work with that allows you to comfortably pay down any new purchases before the 0% interest period expires. For example, if you put $1,000 of expenses on a credit card that offers a 0% APR for one year, plan on paying about $100 a month for the next ten months so that you can completely avoid paying any interest.
Another benefit of using credit cards with 0% interest rates is that they can help you save money on your current credit card debt. Many credit card companies presently offer 0% interest rates on balance transfers that last up to 21 months. By transferring your high interest credit card debt to one of these credit cards, you could save close to $100 for every $1000 you transfer.
Below I have put together my top 0% credit card picks for the holidays. I think that you'll find that these offers will help reduce the burden of credit card debt during the holidays and throughout the new year. Happy Holidays!
