Low Credit Card Interest Scam

You need to get rid of all your credit card debt. This is my mantra. Even those low introductory balances are trouble. If you accepted a balance transfer 0% or 3.99%, take a look at how you are paying that back. When you make a payment, all of the principle is paying off the amount you owe that is at the lower rate. The credit card companies count on you adding more to your card at your regular interest rate, so that they continue to collect the higher rate while they work hard at eliminating the balance with the lower rate. Nice huh?