Balance Transfer Day – December 11, 2011

Across the board banks receive millions of dollars from the federal government at interest rates as low as 0% or in some cases they do not have to repay borrowed funds at all! (Think 2008 Bailout.) Yet, we the consumers are charged costly fees and interest rates of 15% and more for borrowing money from banks. Essentially, banks are using our own tax money to make even more money off of us. So why don’t we beat the banks at their own game and demand the same 0% interest rate that they receive from the federal government?

Together, we can create our own bail outs by using a balance transfer as a means to bail ourselves out of credit card debt. This can be achieved by transferring card balances from interest bearing accounts with large banks to 0% interest cards issued by credit unions and community banks.
Even if the rate is only offered for a limited period of time as a promotion or not quite 0%, this is a way for those enslaved by credit card debt to free themselves and protest high credit card interest rates in a peaceful manner.

We encourage debtors country wide to unite and move their high-interest bearing credit card debt to a card with 0% APR. Use the 0% balance transfer offer extended by credit card issuers as a tool to help pay down what is owed. By participating in Balance Transfer Day and switching your debt from a high interest card to a no interest card, we will send a message to banks that we are fed up with outrageously high APRs and no longer willing to accept these costly rates. You can find credit card offers for 0% interest rates on balance transfers online or by visiting a local branch of your bank or credit union.

Let’s unite against credit card debt on December 11, 2011for Balance Transfer Day!

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One response

  1. How about instead of insisting on something gimmicky like 0% interest, which arguably played a role in the overextending of credit leading up to the financial crisis, ask for some small reasonable amount of interest. Say, 1% above the prime rate?

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