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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0% APR Credit Cards

The Woes Of Credit Card Holders And Salvation From 0%

October 8th, 2010 - 
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The Woes Of Credit Card Holders And Salvation From 0% APR Cards

A typical American household has over nine credit cards. You may be dragging a debt of $6,000, but many are worn out in the struggle to pay their credit balances of over $25,000. In 2006 alone, less than 42% of credit card holders paid their credit in full per month. If you are one of these deadbeats, read on.

The siren call of credit card companies

The offers of credit card companies are hard to resist. If you are getting your first credit card, you may have been enticed by the tantalizing baits of:

“freedom to earn triple rewards”
“get started with cash back when you apply now”
“the more you spend, the more you earn points or cash”
“low fixed rate with reward points”
“no penalty rates, no rate hikes for late payment”

The benefits also include car rental insurance and travel accident insurance and the convenience of paying for anything you might need if you happen to be in any other part of the globe.

Now who wouldnt fall for these tricky words? And the credit card companies also tell you that you wont lose a thing when you switch from earning cash to points and back. True, but ask other credit card holders if the benefits outweigh the disadvantages. You may be getting some sad details.

Vicious Cycle

Credit card holders carry the burden of paying off loans, and before they can reach the finish line, they go again using their credit cards left and right, until they go bust.

This overwhelming cycle goes on without respite. Only those who take the bitter lesson start to think smart, spend less (unless it is necessary), and pay their credit cards debts on time to beat interest pile up.

There are stories of people who prefer to disappear from the face of the earth when they can no longer manage their debts. This act of desperation may not speak for all credit card holders, but this shows how difficult it is to cope with a life riddled with debts.

How to get back your sanity

Here are some useful tips to help you to organize your credit card debts before running to the mortgage companies:

Get all your credit cards and check the balances you have from each card. List all the current balances and get the minimum payment for each card. Rank each balance according to the lowest and highest interest rates.

Pay the credit with the lowest balance and go upwards to the next credit card with the second lowest balance. But dont expect to be debt-free in a year. It may take longer if you have maxed out on the number of credit cards.

Credit card holders tips

One technique is to apply for a 0% APR credit card and try to transfer your high balance to that new card. You can make minimum payment for the duration of the 0% APR.

Calendar the due date of the balance so you can transfer to another 0% APR card, BUT PAY YOUR BILLS ON TIME to avoid interest rates that go as high $30 per month.

If you are getting a 0% APR card, read the small print and digest the facts about balance transfer fees. If the fee is less than your current charges, then get it.

People are wising up. Its about time to know the game that credit card companies are playing. So play smart and avoid the woes of majority of credit card holders.

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How 0 Apr Credit Cards Can Help You Save Money

July 2nd, 2010 - 
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How 0 Apr Credit Cards Can Help You Save Money

Transferring the balance you have from one credit card to another is an arduous task. However, card providers and banks made this procedure easy for their clients. This can be done by transferring the balance from one card to another. These fiscal establishments also give their clients 0% balance but only for a limited time.

A number of credit card holders take advantage of this feature for a number of months, and even years now. The problem is there are card providers that noticed the ongoing trend. Because they are losing money, they make it harder for their clients to transfer their balances.

That is why it is advised that before you sign up for a credit card, you must understand the information that comes with it. The detail as trivial as transferring or moving your balance is quite important. Take for example the situation mentioned above. If you were not fully aware of the rules and regulations of your card provider regarding transferring the balance of your card to another, then you would have a difficult time doing it when you have to.

Thing is a lot of credit card holders do this so that they do not go beyond their credit card limit. By going beyond that limit, the consequence is their records will be tainted, thus making it harder for them to apply for loans to get houses and cars. Job hunting is also made difficult if you have negative credit rating.

Therefore, if you are in the search of a card that has 0% APR, then you can go with the referrals of internet sites. Thanks to internet, the information you need is just a click away.

The chances of getting pre-approved credit increases because of the perks most credit card providers offer their potential clientele. These perks include the low introductory rates. These three words are music to anybodys ears. Anything low when it comes to credit card matters is an opportunity that must be seized.

Then there are the words before the offer expires. The tip we can give you when youre shopping for 0% APR credit cards is you should canvas for the best deal. Do not be too pressured that you might lose the chance. Before you sign on to a credit card service provider, make sure that you checked every provider possible.

Possession of a credit card requires responsibility. Treat it like its your wallet. Your expenditures must have a limitation this is your credit limit. Yes, a credit card allows you to borrow money just in case youre running short in cash. By presenting this card to the cashier, you borrow money from the provider, which you will pay for with interest towards the end of the month.

Therefore its smart that you compare the fees and the terms of various credit card service providers before you open a charge account with any of them. There are good credit card deals around but only you know for sure which the one for you is.

But because of the ongoing trend of transferring one balance from another, get a credit card that has 0% APR rates. Also because of this trend, there are so many choices out there that offer you this low percentage cards. Therefore, good luck hunting!

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0% APR Credit Cards