TRUTH OR DARE

January 28, 2018

Let's play a game! You have to be honest!

 

EVERYTIME I am wrong, I will randomly select one of our followers as a winner to receive a free month of Financial Education course on me; HOWEVER, if I am right, you have to share this post, tag @Diapers 2 Deposits in it, and publicly admit "YOU GOT ME!"

 

WHO CAN PLAY? (must have all 3)

 

* A consumer with at least two paid off credit cards (not store cards)

* A consumer holding debt on other credit cards

* Anyone that receives blank checks in the mail from one of their credit card companies

 

RULES:

 

1. DON'T LIE

2. IF I AM RIGHT, SHARE THIS POST WITH "YOU GOT ME @DIAPERS 2 DEPOSITS'

3. IF I AM WRONG DON'T TAG ME, I DARE YOU TO TAG MY COWORKER @SAVVY KATE Lol (she can handle the mess I am about to create)

 

TRUTH OR DARE 

 

Is it true that you get blank checks in the mail from paid off credit cards offering you balance transfers?

Is it true that these offers have 0% no interest for at least a year?

AND isn't it true you do not participate in the APR shuffle?

 

DARE: I DARE YOU TO GO TRY THE APR SHUFFLE*!

 

*APR SHUFFLE is a credit card strategy that allows consumers to avoid interest for long periods of time. 

 

HERE'S HOW IT WORKS

 

Most credit card companies will send blank balance transfer checks to entice you. Their goal is to either get you to run up more debt or transfer the debt you already have so they can make money off of you paying interest. Most balance transfer offers offer 0% interest for one year. The trick is to not run up more debt but rather to transfer that debt to a new card before the promotional rate is up.

 

$2500 card balance with 15%APR---> transfer to 0%APR for a year--->transfer it again to another promotional offer with 0% APR before year end.

 

KEEP SHUFFLING YOUR BALANCE & APR UNTIL IT IS PAID OF

 

#WhatInterestRate

 

 

 

 

 

 

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