Why do credit card companies seem so willing to give you a free ride when it comes to paying interest on your credit cards? It doesn't seem to be different with any bank- Chase, Citibank, HSBC, First Premier Bank, Advanta Bank, Orchard Bank- they all play the same game. These financial institutes often times will send out credit card offers that are attached with zero percent interest rates in hopes to grab some attention.

If it seems as if these credit card companies are just throwing money at you and aren't getting a profit then you are far from right. These companies know exactly what they are doing and the world of credit cards is a highly competitive place. Credit card companies will do nearly anything to get the business of someone with excellent credit.

In this article we'll cover how you can take advantage of these zero percent interest credit cards and avoid finance charges that can often come with them. By reading the fine print that is with your credit card offer you can get a much better understanding of what you are getting into.

A Little Balance Transfer Secret!

So this is how it goes: You get a credit card offer in the mail saying that if you apply for the credit card online you will have instant online approval and you will get a zero percent card. So you do this and get the credit card, transfer the balance from your current card onto it and start making purchases.

Now as far as you know the balance that you transferred over will be calculated at a zero percent rate and the new purchase will be at a set APR. Sounds fair to you and this is what it advertised in the credit card offer- so far so good.

Only you find out after you receive your first statement that all your new payments are being calculated to the lower interest, in your case the zero percent. So now, you will have to pay off the balance for all of your new purchases before the zero percent rate starts in effect for your transferred balances! This is a little trade secret that most credit card companies won't broadcast in their credit card offers.

Fighting Credit Card Debt!

You pretty much have two options when it comes to dealing with this tricky problem set for you by credit card companies. One is to just simply stop using your credit card. For many this is an impossible task, or unreasonable at best. The smarter decision is probably to apply for a second credit card. If you get a second credit card you can keep one primarily for your transferred balance and the other for any new purchase that you have.

Here's the game plan:

• Find your zero percent credit cards first. Check the internet to compare credit card offers to find the best credit card offers on the market. The top credit card offers will also offer you instant online approval so you can know on the spot whether or not you will be able to get a certain card. Look around for a low rate card that has no annual fee and over a year for an introductory period with your zero percent. Make sure the finance charges are as small as possible as well.
• Set up some sort of repayment plan. You are going to need some sort of plan to pay your current balance off- it won't pay itself! Budget money wisely to pay it off by the end of your introductory period, if you can't look for another zero percent card.
• Find a second credit card for your everyday purchases. It's not a bad idea to look for a credit card with a rewards program or incentive based point system that will give you back something just for using the card. This card will be the one you use on a daily basis.

By taking the steps above you will have set up for yourself a nice budgeted plan on getting out of debt. Using zero percent credit cards you can find a cheap, easy way to pay back all of your credit card debt in no time!

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