The Discover no fee balance transfer offer expired yesterday, meaning there aren’t any balance transfer credit cards out there still offering 0% APR with no fee.

But they’ve decided to extend their promotional 0% balance transfer for 24 months indefinitely, which was slated to expire as well.

This is one of the best balance transfer credit cards available at the moment because it offers 0% APR for a full 24 months.

That means you won’t pay any finance charges for two years, which certainly gives even the most debt-riddled consumer plenty of time to pay off their debt without being hit with unnecessary interest.

The only downside to this offer is the 5% balance transfer fee, but it definitely beats paying the standard credit card APR, which typically ranges from the mid-teens to the 20% range and higher.

Let’s look at an example of the potential savings:

Current credit card debt: $2,500
Current credit card APR: 19.99% APR
Balance transfer offer: 0% APR for 24 months

Though you would have to pay $125 in balance transfer fees in our example, you would save $41 per month and $500 a year by avoiding credit card finance charges (using simple math).

So as you can see, it’s a very effective way to save money and get out of debt.

Take advantage before this deal disappears as well.

Apply here.

Related: How to pay off credit card debt.

The credit rebuilding process can take between several months and several years, depending on how badly the credit score has been damaged. Unfortunately, without persistence, patience, and a proper repayment strategy, even a seemingly small amount of debt can accumulate into a significant financial challenge. The following are three practices to avoid when rebuilding credit, in order to simplify and expedite the process as much as possible.

1. Utilizing Loans to Repay Credit Card Debts

Repaying credit card debts is the first step in rebuilding the credit score.

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Aussies who rejoiced at an ATM dispensing “free money” in Sydney have been dealt a blow by the police.

Those who thought their cash worries were over could be tempted to compare credit cards online after being ordered to return any cash.

The Daily Telegraph has reported that after spitting out money, the Commonwealth Bank ATM has been placed under guard.

Furthermore, the police have warned that those who took money from the machine have committed a fraud.

The machines in question were allowing people to withdraw much more money that they actually had in their accounts, which prompted something of a frenzy.

Police have now warned that anyone caught withdrawing more than they owned will be traced and could face up to ten years jail for fraud.

Col Dyson, from the New South Wales fraud squad, told the newspaper:”Its the first Ive heard of something like this happening on such a scale.

“If these people know theyre not entitled to the money then certainly they are committing an offence.”

If you didn’t already know, there are five main factors that determine a Fico score.

They include:

- Payment history
– Amounts owed
– Length of credit history
– New credit
– Types of credit

Now that we know what’s in a Fico score, let’s find out more about “what’s NOT in a Fico score.”

Your race, ethnicity, national origin, sex, and martial status do not affect your credit score, per the Consumer Credit Protection Act.

Your age is also not a determinant of a Fico score, though other types of credit scores may use it.

Your salary, occupation, title, and employer are included in your credit report, but do not affect your actual Fico score.

However, banks and lenders may use this information against you as part of their own underwriting decisioning.

Additionally, a Fico score does not take into account where you live, the interest rate being charged on your accounts, or any items reported as child/family support.

Rental history doesn’t affect Fico scores either, but now affects VantageScore.

Finally, certain types of credit inquiries don’t count against you, such as those initiated by you and those initiated by employers and insurance companies (will a credit check lower my score?)

And as a rule of thumb, if it’s not on your credit report, Fico doesn’t use it.

It will look like you’re attempting to obtain credit and as a result, could lower your credit score.

Get all 3 credit scores instantly for free for 30 days without worrying about a credit score ding.

With so many financial burdens currently being placed on American households, it is all too easy to fall victim to credit card debt. Although it can be advantageous to have a large available credit line, there are additional responsibilities that come with the freedom of having multiple credit cards, larger credit lines and a continuous temptation to charge large amounts of money on credit accounts. Studies have shown that individuals with larger credit limits are statistically more likely to succumb to the temptation of making excessive purchases. Thus, it is imperative to find a comfortable medium between having a large credit line and a modest one.

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