What if I have a ZERO interest credit card?

This question has come up recently. What about a zero interest credit card? I’m not paying interest, isn’t that good?

First, I’ll concede the point I usually say that it’s expensive to have credit cards because of the interest you have to pay, but it isn’t the main reason. It’s just one of the many reasons I encourage everyone to Live Debt Free.

The main reason for Debt Free Living is DEBT. Debt is bad whether you’re paying interest or not. The reality is you have borrowed money that you don’t have and must repay it.

Repaying money that you don’t have now mortgages your future. The more you owe the less likely you can be generous. The more you owe the more stress you have in your life. The more you owe the more you’ll fight with your spouse over money.

The main reason to get rid of ALL your DEBT is to get rid of the chains that hold you down. There’s a real sense of freedom when you owe no one money. There’s no better feeling than to pay cash for everything.

One final note. A previous post of mine has a strategy on paying off your debt. I suggest you pay off your lowest card first then next to lowest all the way to the highest balance. If you wanted to tweak the strategy a little you could save the credit card with zero interest and pay it off last.

David….