Monday 148: Zero Percent

Zero Percent

Tuesday, 6 September 2016

A day late!  It was Labor Day yesterday!

Having paid off one credit card, it was a fantastic thing to get the last bill in the mail showing amount owed as $0.00.  Along with it has come a slough of offers from the same credit card company for 0% for one year.  We have other credit cards needing to be paid off.  Should I take up this offer, or not?  As you know, we have one hovering at 20% needing to be paid off.  The credit limit on the one paid off is not the amount of the other card . . .

This is sort of a dilemma.  Should we, shouldn’t we?  The interest we will save is substantial, but we are hesitant to go that route – not so much because of the money saved, but the potential – the very scary and very real potential – to use credit cards again.  The psychology here is the key, not the money.  It’s like offering a drug addict – a credit addict – a taste.  We don’t want that taste.  We want to stop this!

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