With the growing unemployment numbers, a deflated stock market and an ongoing foreclosure-driven realestate market, many consumers are struggling to pay their credit card balance. As a result, major credit card providers, are reporting a growing number of defaults. A new congressional legislation addressing this issue will not take effect for a few months, leaving consumers to struggle with even higher interest rates and tighter credit terms. This is why it is important for consumers to change credit card lenders to those which can provider a 0% interest rate and better repayment terms.

A common statistic is that the average consumer spends about $100 in interest per year for every $1000 of credit card debt they owe. The amount of savings from switching to a credit provider that offers 0% interest will depend on the current debt that the card holder has. For instance, the average household, which carries close to $8400 in debt, can see interest savings of over $1000 by transferring the balance from credit cards with a 12% interest rate. In these tough economic times, this is a deal worth paying attention to.

Due to the recession, the number of credit cards having such favorable terms is down. The website www.smartbalancetransfers.com provides information on a variety of such credit card offers, including, 0% APR balance transfers, 0% APR on purchases, no fee balance transfers, and more. There is also a handy balance transfer calculator to give consumers an idea of how much money they can save. If you wish to read informative articles on such topics as how to avoid credit card scams, frequent flyer credit cards, balance transfer catch 22’s, and others, check out the blog section.

A good way to save money on interest and pay down current debt is to get a balance transfer to a lower interest credit card. By taking a few minutes to apply for a 0 balance transfer offers, a person can refinance their debt at low rates and gain significant savings. For additional information, take a look at the SmartBalanceTransfers.com website.