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I know it sounds crazy but it's possible to get out of debt by using 0 APR credit cards. The zero APR credit card is a special no interest rate offer that comes from different financial institutions looking for new business. These cards usually offer an extremely low or no interest rate charge during an introductory period. During this introductory time, you aren't charged any interest on the balance owed.

The zero rate cards also allow for transferring your old balance from a high interest rate card to your new lower rate card. This means that you can take your $5,000 dollar credit card balance on your old card that was charging 18 to 24% interest and move it over to the new card at the introductory rate.

Moving a high balance credit card to one of these zero APR intro rate cards can save as much as $100 a month. Now consider that if you take that hundred dollars a month and pay down the total amount owed, even if the temporary rate was six months, you saved $600 dollars.

The good thing is that all you had to do pay down that extra $600, was the continued to make the exact same monthly payment but on the new credit card. The extra money instead of going to interest simply went to pay down the total principal owed.

Another wise financial decision you can make is that once you transfer your credit card balance to the zero APR credit card, close your original high interest rate card account. Having too many credit cards or credit lines available can actually lower your total overall credit score. Closing the high interest account makes sense because it keeps you from continuing to use that card.

One of the worst things anyone can do when using zero APR credit cards as a financial tool is to keep the high interest rate card active in continuing to use it. This is a common mistake of many young adults who instead of using careful budgeting strategies make the assumption that they can handle credit and end up with yet another increase in credit card debt.

Credit card interest rates are getting absolutely ridiculous. To make matters worse, the financial companies behind these cards are charging exorbitant fees whenever they can. This means that if a payment is somehow late, not only do they charge a huge late fee but can also raise your interest-rate. It's in everyone's best interest to get out of credit card debt as quickly as possible, and using zero APR credit card offers can be a good strategy.