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Stop Paying Interest on Credit Cards

While standing in line at the grocery store I heard a woman telling her friend that an item she purchased last year with her credit card had been paid for more than 2 times over and she still owes about two thirds of what the item cost. Being a person who has found a way to eliminate the interest on credit cards and feeling sorry for this woman I politely asked if she would like to get that credit card paid off without paying the interest. She made a funny face then said "Yeah, but that's not possible ,or do you know something I don't know about my credit card." I told her to meet me outside and I would explain how she can legally avoid paying the interest.

She had been paying the minimum amount for over a year which was only paying a few cents on the principal.
But this had been good for her credit. When I told her she could have been making money with her credit card she almost fainted. But that's another story....we will stick with this one for right now.

I asked if she would considered getting another credit card from another company or bank.
Of course she said she would if that would help. I then asked if she ever received any offers to get new cards through the mail.
She laughed and said "All the time, about one a day" When I said well, there's your out when it comes to paying interest... Needless to say she didn't know what I meant by that remark so I explained what to do.

Apply for a new card, but be sure they offer a 12 or 16 month "NO INTEREST" transfer.
Transfer the amount owed on the credit card she now has and pay a little more than the minimum payment.
Double it if possible. Everything paid now will be taken off the principal...

I then told her to do not cancel the one you have but use it if it has a money back program. Most credit cards companies(and banks) are doing this to get people to spend more, hoping to make more money off them.
She said it was a Discover card but she has never got any cash back from it.

We finally decided that we needed to get our food home and in the fridge or freezer so we made plans to meet the next day so I could explain the process step by step.

When I got to I Hop the following day she and six of her neighbors as well as four of her friends were there.
Eleven women sitting at tables that had been pushed together waited patiently for me to explain the steps to take to stop paying interest on their credit cards.

Once again I explained the steps to take and soon everyone was getting excited. One woman said she had to almost fight with her husband to get there because he said there was no way you could do that. She laughed and told us he is a CPA , shouldn't he have known this little trick? All brought their credit card bills and letters from other companies asking them to apply for a credit card. We spent almost 4 hours filing out papers. I had just made eleven new friends.

One morning six months later I got a call from one of these women and she was so excited she was almost crying. In six months she had her card paid down to more than half and would have it paid off in another 4 to 6 months and all she did was add $5 more to the payment.

So next time you receive an offer of "interest free" for X amount of months, check the fine print to see if they charge for the transfer and if not, it's your chance to get your credit card paid off faster without paying any interest.