0% Interest Credit Cards Offered To Military
As some of you know out there slipping into the trap of credit card debt is a process that almost seems to sneak up on you. A few pieces of furniture here, a new TV there, and next thing you know you’re having to make minimum payments on a credit card that is charging you 20% interest on your debt. There are many credit cards that offer an introductory APR of 0% which usually only lasts 12 months. We’ve done our research and found a bank that offers 0% Interest Credit Cards indefinitely.
Most people don’t truly understand how much money they’re spending on interest especially if they’re only making the minimum payment every month. Look at this disconcerting example of how much money you might be handing over to the typical credit card company. If you have a card with a:
Minimum Payment: 3.5% of your balance or $25, whichever is greater
It will take you over 15 YEARS to pay off your debt and you will spend an additional $5600 on just interest alone. Not very friendly numbers when you care to actually look at them. We recommend playing around with this credit card payment calculator to get a handle on what you might be paying.
An absolutely amazing deal out there that many people know about is many banks and credit card companies will offer reduced interest rates for service members. What almost no one knows about is there is a bank that offers 0% interest and waives ALL fees on their credit cards for those in the military.
Check out Barclaycards offered by Barclays Bank. We’ll say it again, they waive all their fees and offer 0% interest on their credit cards for military members. What that means is you can take existing credit card debt, transfer it to one of these cards and save yourself thousands of dollars in interest. While the majority of these cards charge a one time 3% transfer fee, this will save you a lot of money in the long run.
Step one to receive these benefits is to apply for and receive the card. Step two is to call the number on the back of the card and let them know that you are serving in the military. They will transfer you over to a separate department where you speak with a representative who works with the military and will guide you through the process. It involves sending over a copy of your orders or LES to prove that you’re currently military. Easy as that!
We at The Modern Military Man receive absolutely no commission or kick back from Barclays for promoting these cards. We do however use these cards personally to help manage debt and have had an excellent experience.