With interest rates on some credit cards rising to over 23%, even low balance credit card debt can be crippling. One of first research elements a prospective borrower should look at is interest rate on transferred debt. This interest rate is often lower than usual interest rate for credit card, and can be an especially good deal for borrowers who have debt already. Another element to consider is interest rate on new purchases – this rate will be main concern in years to come, as this new credit card will probably become most heavily used. Borrowers often worry about annual fees, but these are often temporary. Getting a credit card with low interest rates will save a borrower significant sums, usually much more than annual fee. Plus, once good credit is established, annual fee may later be waived.

It's been my experience that credit falls into same category as politics and religion. People have very strong opinions about Credit. It has been around since beginning of mankind. People would borrow either goods or services, to be repaid at a later date with interest. There's nothing wrong with that. And like anything else, it can be used, or abused.

There are programs that allow you to borrow from your IRA, or you can borrow from equity that had built up in your home. Credit card companies often offer promotions to borrow money at a lowered rate of interest for a predetermined period. It's all good news for consumer. One of simplest ways to borrow money to use a Credit Card. The choices available are plentiful, with a variety of interest charges, annual fees, loyalty programs, and reward systems.