True 0% Apr Credit Cards: Do They Exist?

October 18th, 2010 - 
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Because credit cards are now becoming more and more popular and competition among credit card institutions are getting stiff, credit card issuers are now finding ways to attract more potential clients to apply for their credit card. In fact, some credit card issuers even send emails and traditional postal mails to prospective clients in order to reach out to people and tell them about their credit card offers.

This is a form of marketing strategy which is aimed to attract more potential credit card users. Today, one kind of promotional offer that is definitely working is the 0% APR credit card offer. Although this may seem too good to be true, 0% credit card offers really exists. However, before you rush off and apply for this kind of credit card, you need to understand the offer first in order to make sure that you are getting the right kind of credit card.

An APR (annual percentage rate) is what credit card issuers use to compute the total percentage that will be charged on your purchases, cash advances and other fees. In this case, a 0% APR is definitely a very attractive offer. However, you have to face the fact that this kind of offer is only a promotional offer or a marketing strategy and doesnt last forever. Besides, you have to consider that a credit card company will also want to make money for their services and the APR is one of their main money making strategies.

The 0% APR credit card offers that you usually see are just marketing tools that credit card companies use to attract more potential credit card holders. Besides, if you will be offered with 0% APR, you will instantly get attracted by it because of the benefits it can give you. Here are some of the things you should think about in order to find the best deals.

Since the 0% APR is only an introductory offer and doesnt last forever, it is important that you should determine how long it will last. Ask the credit card issuer first how long the introductory 0% APR will last in order to make sure that you will benefit a lot from the credit card. Usually a 0% APR will only last for three months to a full year.

Next, it is also important to know how much APR it will have after the introductory period expires. You dont want to find out late that the credit card will have a high amount of APR after the 0% introductory period expires. It is best to learn how much the APR will be after the introductory offer in order to avoid surprises that you may after receiving a high amount of monthly bills on your purchases.

Knowing about the different features and benefits is also helpful. Try to know if the credit card allows balance transfers from high interest credit cards during the 0% APR promotional period. If it does, you will be able to pay off your outstanding balances with low interest rates.

These are some of the things you should know about 0% APR credit cards. Although this offer definitely exists, it is only offered in a limited period of time. By finding out about the APR after the promotional offer expires and also by knowing about how long it will last, you can be sure that you will be able to find the best credit card deals.

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Skyrocketing Savings With A 0 Apr Credit Card

September 1st, 2010 - 
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Every working individual has their own priorities to think of. Some are thinking about the mortgage they have availed when they have purchased their present residence. Others are prioritizing the education of their children through availing educational plans. These are priorities in which they need to invest a portion of their salary.

Despite of differences in terms of setting their own priorities, every working individual is bounded by a common goal-and that is, to save money from their salary, which they can use to fund other important things aside from their everyday living. With prices of commodities increasing nowadays, it is quite hard for every ordinary working individual to budget their salary for various needs. In fact, there are instances wherein they have work other than their regular job to keep up with the increasing prices of commodities and other essential needs.

There are many ways of saving money from your meager salary. You may switch to brands that are quite cheaper from the previous brand that you are using. You may also cut back on the quantity of goods that you have previously purchased. If you tend to buy 5 dozens of eggs for $4.50 per dozen, for instance, you may save a lot if you will just buy 2 dozens of eggs, that is $8.00. You have save some $14.50, which you can use on other expenditures.

If you are planning to get credit cards for your future purchases (if your cash is really not enough), you can save substantial amounts of money by getting 0 percent APR credit cards. Different credit card companies also need to cope up with the change in market conditions, and in order to attract more clients, expect that the 0 percent APR credit card always comes along with their offerings.

Definitely, a 0 percent APR (annual percentage rate) credit card lets you pay the amount that you have actually borrowed from the credit card company, with no additional charges. In other words, if your credit card’s monthly credit limit is $1,000 and it is at 0 percent interest, you will just pay the total amount without any additional charges.

With 0 percent APR credit cards, you will be able to save substantial amounts of money out of interest rate payments. However, in order to qualify for this kind of credit card offering, you need to consider several things first.

1.Individuals who qualify for 0 percent APR credit card are those who possess good credit standings. Individuals with good credit standings are considered by credit card companies as “low risk consumers”. Thus, you need to check first your credit report and clear any bad credit so that you will be able to qualify for 0 percent APR credit card. By the way, you are entitled to 1 free credit report every year.

2.Once you have now a clean credit report, you may now apply for a credit card without doubt.

There are two ways that you can get your 0 percent APR credit card.

a.If you have credit cards at present, you may ask if they can convert your account into 0 APR credit. In most cases, you will be given 0 APR credit for a period of 6 months to a year. Before the term ends, you may set up the 0 APR credit on a different card and transfer the remaining balance.

b.You may open new credit cards that offers 0 APR. However, this is usually an “introductory offer”, thus you will switch to a higher APR after a certain period of time (usually from 6 months to a year).

Your salary is your hard-earned money. Take the opportunity of getting 0 APR credit cards and save your hard-earned money for your future.

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Profiting from 0 Interest Credit Cards

August 22nd, 2010 - 
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Everyone knows that credit cards are synonymous with debt. However, many people are taking advantage of 0 interest credit cards and making a profit. You just have to learn how to do it before you start. There is no reason whatsoever to make small profits if you are already paying out large sums of money on other debts that you already have. You must first pay off all your high interest credit card debts to benefit.

You must pay close attention to when the introductory offer expires with 0 interest credit cards. If you pay off all your debt prior to the expiration, you will, of course, be saving money.

When using 0 interest credit cards you must try to forget about them and only use them when it is absolutely necessary. You do not want to incur a large debt that you cannot pay back prior to the expiration.

Be sure you have a good credit rating prior to starting on your adventure with 0 interest credit cards.

Now, look for credit card companies that are offering a 0% interest rate. You can find some that offer 0% for six months, 9 months and even some up to a total of 12 months.

Heres how to profit from the use of 0 interest cards. First, transfer the credit limit available on your 0 interest credit card into your bank account as a direct transfer or as cash. Now, transfer the balance you have on your other credit card onto your 0 interest credit card as well, in order to pay off your balance on that card. The money you just received should go into a high interest savings account at your bank. Do not touch this money until your 0% percent is about to expire. You will still owe the money that you transferred on to it, but you will be earning interest on the money in the bank. You will now be able to pay off the balance with the money in the bank and have as well as a chunk of earned interest for yourself.

Remember, for this to work, you cannot run up your payments or charge more on your other card. As long as you have an excellent credit rating, this will work wonders for your bank account and your wallet, if you pay very close attention to the expiration of the 0 interest credit cards before they begin charging the higher APRs. If you do not remember to pay it off prior to the expiration of the 0% interest introductory rate, then you will find yourself owing money at a higher interest rate.

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Is A 0 APR Credit Card Legitimate?

August 9th, 2010 - 
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You see all the ads for 0 APR credit cards all around you today. However, are they for real? The truth is yes, they are for real, however, this special 0% APR does not last. You can find all kinds of credit card companies offering a 0 APR credit card for people with excellent credit. Many credit card companies are now offering 0 APR credit cards as part of their incentive program to get you to apply and begin using their credit card for all their purchases. However, there are downsides to some of these offers.

Although they are advertising a 0 APR credit card, the 0 percent APR is not for the entire time that you are a cardholder. You will have to pay close attention to learn how many months they are offering this special 0% APR, you can find them for 3 months, 6 months, 9 months, 12 months and if you are lucky for 15 months. However, now you must check if the offer also includes all new purchases and balance transfers. One company may offer 0% only on balance transfers. If you are using one of these 0 APR credit cards, you will find that you will have to pay the normal interest rate for all new purchases and all money that you pay monthly will be for paying off the original balance, so you will get stuck paying the higher interest rate on your purchases.

It goes something like this say you did a balance transfer of $5,000. This money will not incur finance charges. But then you make a purchase of $1,000 and this money will incur finance charges. You then pay off the $1,000 before you think you will incur any finance charges, however, the $1,000 is applied against the original $5,000 balance transfer. So now you will have $4,000 on the original balance transfer without any interest being charged but the $1,000 in additional purchases is being charged the regular APR, which tends to be pretty steep. Therefore, you may find that it really was not worth the money to use this 0 APR credit card after all.

Another downfall to the 0 APR credit card is that if you do not pay off the entire balance transfer before the introductory offer expires, you may find that you are paying a higher interest rate than you were with your other credit card. Reading all the terms and conditions can aid you in making an educated decision about a 0 APR credit card and whether it is for you.

As such, many of the 0 APR credit cards may sound appealing, however, after the introductory period ends on these offers, the ongoing interest rates and other fees tend to be higher than average, so you may find yourself between a financial rock and a hard place. Just because you can find a 0 APR credit card and get approved this does not mean that you are necessarily going to enjoy a financial life of luxury. Remember, however, there are other fees that are applicable so the credit card issuers are still making tidy profits with annual membership fees and fees for balance transfers. So as usual, it always pays to read the fine print.

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Have You Fall For The 0 Apr Credit Card Yet?

June 22nd, 2010 - 
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Have You Fall For The 0 Apr Credit Card Yet?

You probably have heard about 0 APR credit card? This is the most common thing that people have heard or read in the advertisements of most credit card companies. If you have been called by some bank representatives offering you this promotion, you might get lured by the seemingly juicy offer.

After all, it could be a lot of savings in the end as you no longer have to pay the APR (stands for annual percent rate). But before the bank representative gets successful by making you lured into applying for their credit card, stop there first and clear things up before signing up with them.

Credit cards with 0 APR are often too good to ignore. They usually come with the agreement that you transfer your balance from another credit card you are using and get the APR with zero interest; or you have the 0 APR on the first year of using the credit card. Added to that juicy offer, the bank will also give you fast approval, plus some other perks. Thinking you would get all tons of savings from this new credit card, before you know it, you let this representative procure your information, as well as your existing credit card information, and let them consolidate your debts to the new credit card company which offered you the 0 APR.

Now, after signing up with them, it could be too late for you. You have not learnt of the hidden charges of your new credit card, so here you are: about to receive future bills with even higher statements. This thing could have been avoided if you have been wise enough to carefully think of the offer thoroughly.

Such offers like 0 APR is indeed very interesting, but that happens too good to be true. The truth about this thing is that credit card companies typically start the offer being effective after people have accumulated so much debt from the holiday rush season shopping spree. And after this 0 APR thing has taken effective, the credit card company may cancel it at anytime of the year. The sad thing about this is, you do not normally notice that the offer is over leaving you with exorbitant prices with the statements.

Some may think the 0 APR offer lasts for years and years. But the fact is, it only lasts for six months or so, but not more than a year. And since, you do not know your 0 APR is over, you still believe you save even when the next bills are higher than the previous ones.

Another thing you should know about 0 APR is the offer which says inclusion of the amount of your balance transfer. Often, the credit card company actually applies the promotion for the purchases you made on your new credit card and not on the balance transfer. This is often something that clients overlook because it is usually not included on the flyers.

If you would not be careful enough, you can be trapped with this fraud claims. While it can be effective on the first season of using your new credit card, it will still get extremely higher and once again you will find yourself in the stream of high debts. To avoid these mistakes, make sure to read all details of their terms and conditions before signing up with them. It would not hurt as well if you can raise all possible questions in regards to the true nature of the 0 APR credit card.

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Applying For a 0% Intro Rate Credit Card

May 12th, 2010 - 
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When it comes to credit cards, the reward credit cards are usually much more popular because more often than not, consumers are dazzled by the concept of earning points and winning prizes for themselves just by using their credit cards. But you see, thats simply considering one side of reward credit cards and thats the nice side, by the way. The other side would be the high interest rates that reward type of credit cards charge its users. So you see, youre not winning those prizes for free or at least not completely unless you have the means to pay for your purchases before the cut-off period or before you get charged with interest.

This article, however, shall enlighten consumers about the less popular type of credit card and that would be the non-reward credit card. A non-reward credit card does not allow you to earn air miles or win gift certificates and other cool prizes for yourself just by swiping your credit card as often as you can. Rather, a non-reward credit card lets you purchase everything you want with a lower interest rate compared to reward type of credit cards.

Of all non-reward credit cards being offered in the market, its the 0% intro rate credit card that creates the most buzz because of two magic words zero percent! And thats right credit card companies kid you not with their zero percent interest rate offer! But of course, thats not all there is to it. Though we have nothing against 0% intro rate credit cards, we do suggest that you apply for a 0% intro rate credit card only when its the type of credit card that would best suit your needs.

A 0% intro rate credit card would be most suitable to a type of user who can not afford high interest rates like whats being charged by reward credit cards, thats for sure. Secondly, a 0% intro rate credit card would also be most suitable to someone who has pressing needs to buy or acquire something but has not enough money to go through with the purchase. Because of their very situation, having a 0% intro rate credit card would be of most help since even with the required monthly payments, they still wouldnt pay as much as they would with other types of credit cards.

Of course, all good things must come to an end and a 0% intro rate credit card is unfortunately no way different. As it is only an introduction rate, once the time allotted for it elapses, you shall revert to paying for normal interest rates.

But thats a long time coming and you dont have to worry about that yet. Whats important is to be able to buy what you need and applying for a 0% intro rate credit card is the key!

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5 Things You Should Know About 0 APR Credit Card

April 25th, 2010 - 
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5 Things You Should Know About 0 APR Credit Card Offers

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If you have received one of these offers in the mail, you know how tempting they can be. They claim that you will pay no interest on any purchases or balance transfers in the first period of owning your card. But there are some things about these offers you need to know before you sign on the dotted line and let them pull your credit report

1.The 0 APR offer is for a limited time.

Most credit card companies that offer the 0 percent interest rate deal only offer it for a limited time. This means that you will pay 0 APR for six months, nine months, or up to a year. You need to check the fine print for this information and be careful to notice it when the time is up.

2.The 0 APR offer might not apply to everything you put on the card.

Many cards offer 0 APR on all balance transfers and any purchases made during the introductory 0 percent interest period. But some only offer the 0 APR on balance transfers, and you pay a very high interest rate on any purchases.

3.The 0 APR offer might be null and void if you are not on time with your payment.

Most of these credit card offers are contingent on your being an exemplary member. This means that you have to pay your minimum payment on time every month during the introductory period or else you automatically lose your nice 0 APR and move up to a rate that usually ranges from nineteen to twenty-one percent interest.

4.The 0 APR offer might carry a ridiculously high interest rate after the introductory period is over.

Again, the rate of interest for these cards after the 0 APR is over usually runs from nineteen to twenty-one percent.

5.The 0 APR credit card will not repair your credit.

Remember that consolidating your cards or transferring your loan balance will help you pay off the balance without interest, but it will not remove the damage already done to your credit.

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5 Cons of Owning a 0 APR Credit Card

April 14th, 2010 - 
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If you have received an offer recently for a 0 APR credit card, you may have been very tempted to send in the form signed and ready to go. You may have seen the words 0 percent interest and jumped at the chance to shop for six months with impunity. You may even have thought that this was the answer to all your credit card or bank loan debt, allowing you to consolidate your bills and pay one low price with no interest. And all of these things may be true. However, there are some serious consequences that you need to know about before you blindly start spending with your new card.

1. Limited introductory period – Credit card companies who offer 0 APR cards cannot offer you this deal for very long or else they would not make any money off of you. So most deals last for six months, nine months, or even up to a year. This means that you will only pay 0 percent interest for this introductory period and no longer.

2. High interest rate – Very often, after the introductory period is over, the interest rate charged for use of your new credit card will be higher than the average rate. Usually, it is anywhere from nineteen to twenty-one percent interest, and perhaps a higher rate on cash advances and other transactions.

3. Penalty for late payments – If you pay your bill late or forget to pay it altogether anytime during the introductory period, you interest rate will immediately go up to a penalty rate. This could be as high as twenty to twenty-four percent on your entire balance.

4. Limited application of 0 APR – Some cards offer the 0 percent interest on all purchases made in the introductory period as well as on all balance transfers during this time. However, read the fine print because some only offer the 0 APR on balance transfers, and they charge a high rate on purchases.

5. Tricky conversion period – When it comes time to move from 0 APR to your regular interest rate, you may be charged interest on any unpaid balances from purchases during the introductory period.

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0 APR Credit Cards

March 25th, 2010 - 
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How many pieces of plastic do you have? Are you a credit card fanatic? You know, one of those individuals that acquire as many credit cards as possible? Now, first of all, this may get you into a serious financial bind. Sure, credit cards are a great way to deal with an unexpected expense, and can no doubt save your butt at times. However, these tricky little cards can also dupe you into spending carelessly. We all know their typical spiel. Those clever credit card companies know just what you want to hear. That’s why your mailbox is consistently filled with offers for 0 apr credit cards. They love to pitch that; don’t they? Let’s face it; we all light up at the number 0. It immediately tells us that we won’t lose anything. Ha, that’s a good one. But, while these 0 apr credit cards start out benign, they soon turn sinister. Suddenly the apr is through the roof, and you’re shelling out tons of cash for interest rates every month.

When you checked your mailbox today, were there any pitches for 0 apr credit cards? I’m going to go ahead and guess there was at least one. Now, the question is; are you going to rip it open and read the whole deal, or simply tear it apart and throw it away? Don’t get me wrong, we all like to have a credit card or two in our wallets and purses. Those 0 apr credit cards can come in handy if we get in a bind. The trick is using it wisely. This basically translates as not using it unless you have to. And I mean have to! There’s no reason to stick something on your 0 apr credit cards if you can already pay cash. Why grapple with the monthly credit card payment? Or maybe you’re one of those rare individuals who pay their credit cards off completely each and every month. If you are, then many congrats to you. You’re one of few. Although many of us, or probably most of us claim that this is how we will do it, we actually don’t. Believe me, the credit card companies count on this. In the end, you’ll probably want one of the 0 apr credit cards for some emergencies. The trick is staying strong and not using it for random shopping. If you are in search of current deals on 0 apr credit cards, then I suggest you get online. It’s easy to pop open Google and do a quick search regarding 0 apr credit cards. However, be prepared, because loads of them are about to pitch to you.

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0% APR Credit Cards – What You Need to Know

January 18th, 2010 - 
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0% APR Credit Cards – What You Need to Know

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0% APR credit cards are an appealing option for frequent shoppers that rely on having a low monthly interest rate when they cannot pay off the entire balance of the credit card in any month. But what you really need to know about 0% APR credit card offers, often times is never discussed.

For starters, the APR is the commonly-used acronym for “Annual Percentage Rate,” which is the annual month-to-month rate that you can expect to get for your credit card balance. Naturally, if you frequently carry your credit card balance over from month-to-month, it is important for you to have a low or even 0% APR credit card.

How it Works

Every credit card company makes money when shoppers use the card, but do not pay off the balance at the end of each month. Because the credit card company has lent shoppers money so that they can make their purchases, the credit card company will charge interest on the balance until the entire balance is paid off. The credit card company has the potential to make a generous profit from the balances of their customers each month. Naturally, as a consumer, having a 0% APR credit card means that your balance is carried over from month-to-month without any charges applied.

Beware of High Interest Rates

It may seem like credit cards actually lose money by investing in a 0% APR credit card promotion. However, the 0% APR credit cards actually help credit card companies find customers. For example, if there is a shopper that has a high APR (some are up to 20%) and he or she is having a hard time paying down the balance of the credit card, the purchaser is in an ideal situation to transfer their balance to a 0% APR credit card for a period in which they can focus on working down their debt. The situation is ideal for someone who is in short-term debt. However, to balance the 0% APR credit cards against the credit card company’s need to make a profit, as soon as a trial period expires, many credit card companies will increase their rates drastically. As a consumer, you need to read the fine print so that you are aware of the deadlines associated with this change-over.

Where to Find a 0% APR Credit Card

It may seem harder than it really is to find a 0% APR credit card. It’s advantageous to find a card that doesn’t require you to pay a month-to-month rate on the unpaid balance. However, credit card companies frequently enact 0% APR credit card promotional deals, so take a look around for what deals are available to you currently.

0% APR credit cards can make managing your debt very easy. While most of them do not require annual fees, it is important for you to understand what you are agreeing to before you sign a contact with a company. While most 0% APR credit cards eventually increase the rate after a set period of time, the duration of the promotional period varies by company. As with any credit card agreement, a little research and education into the details of a 0% APR credit card can go a long way towards helping you make a decision that can positively effect your finances. Choose wisely!

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