Once you've run up your credit cards buying gifts, consider moving that debt to a balance transfer card. For all these cards, remember that the zero percent interest is temporary. You don't want to open up one with no plan to pay it off. Jimmy Rhoades and NerdWallet’s Sean McQuay have four tips to reduce your credit card debt this holiday season.
1. Longest 0% APR Period
The City Simplicity gives you 21 months of 0 percent APR. The downside to is having a 3 percent upfront balance transfer fee. That fee is pretty standard, except in the next category.
2. Best Intro Offer
The Chase Slate is unique in that it waives that fee. That's a bigger deal than you might think. When you consider 3 percent on let's say five thousand dollars in debt, that's actually saving you a ton of money up front.
3. Best Sign-Up Bonus
The Discover It card gives you 5 percent cash back on rotating categories and the first year, they actually double that benefit. Instead of 5 percent, you're earning 10 percent.
4. Best Rewards
The Citi Double Cash effectively gives you 2 percent cash back for every purchase you make at all stores, at all times, no worry.
For all these cards, remember that the zero percent interest is temporary. You don't want to open up one with no plan to pay it off.
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