Re: Are 0% Apr Credit Cards a Magic Debt Solution?
$1000 at 22% is $18.33 in monthly interest.
22% is the yearly rate and must be divided by 12 to determine the monthly rate.
I love 0% cards and have 1 offer for up to 16 months out currently lying on the counter.
Properly utilized they can be a great way to make some extra cash.
Improperly utilized and they can land you in the poor house fast.
|