Save Hundreds of Dollars with Credit Cards - Here's How

If you're like me you probably have a number of credit cards in your wallet - two or three at least. (Most Americans have more than that - read on.) When is the last time that you really took a look at the credit cards that you have? Are they working for you, or are you paying more interest than you have to? Are they tools that simplify your spending habits, or are they sapping hundreds of dollars from your budget needlessly? Check out these credit factoids - you may be surprised:

1) Today's average consumer has 13 credit obligations that the credit bureaus have on file. Nine of those are credit cards of some type - department store cards, Visa, gas cards. Four of those credit obligations are likely to be installment loans of some type.

2) The average consumer's oldest credit obligation is fourteen years old! This is an indication that he or she has been managing a credit obligation for a long time. Only five percent of consumers have credit histories shorter than two years.

3) Average credit card debt among indebted young adults increased by 55 percent between 1992 and 2001, to $4,088. This is an indication that the growth of debt among young Americans is currently experiencing explosive growth. The average credit card indebted young adult now spends nearly 24 percent of their income on debt payment. That's 4% more than the young adults did in 1992.

4) Approximately 75% of US families surveyed in 2004 had credit cards, and of that group 58% of them carried balances. The average American with a credit file is responsible for $16,635 in debt, excluding mortgages.

5) Of families with credit cards 1 in 6 of them only pays the minimum due every month. Twenty-eight percent of all families who were surveyed said that their ability to completely pay off their credit card balances has gotten more difficult.

The sources of figures include Experion, The Federal Reserve Bulletin and US News and World Report. These are reputable sources an hence the figures merit attention. Taken together, they indicate that typical Americans are carrying a lot of debt! Chances are they're not optimizing that debt reduce the cost of borrowing. This can be a very simple thing to do in many cases, it can be done from the comfort of your home with a computer, and if your situation is reflected to any degree in the statistics above, it could save you hundreds or even thousands of dollars!

Significant savings in interest payments can be found in 0% Balance Transfer Credit Cards. By applying for a new credit card that offers 0% balance transfers, you can aggregate balances from other credit cards that are charging interest into an interest-free loan. This is a fantastic deal that can save you a lot of money over time! Depending on the outstanding balance of your current credit cards and the interest rates of those cards the savings in interest paid make it worth your while to move your money to a 0% balance transfer card. Let me give you an example: for every $1,000 in credit that you have outstanding on a credit card that charges 14% interest you will pay $140 dollars in the next year in interest alone. Many credit cards carry higher interest rates, and many people have balances that exceed one thousand dollars, so by moving that same debt into an interest-free position a great deal of money can be saved.

0% Balance transfer credit cards are easy to apply for and obtain. Application can be done on-line and the approval is simpler than first-time credit applicants. You can transfer all or a portion of an existing balance to the new card. A brilliant habit to establish is to shop 0% credit every twelve to fifteen months so that you can continually roll your outstanding balance to an interest free position. In today's financial climate we all are looking for ways to save money - 0% credit cards and balance transfer offer a free and easy way to do just that.

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Applying for zero percent balance transfer credit cards is a snap on our site. You can also brows some of the other credit card offers there, including incredibly low interest, cash back and rewards credit cards.

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