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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Low Interest or 0% APR Credit Cards Take Your

August 20th, 2010 - 
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Low Interest or 0% APR Credit Cards Take Your Pick

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While many credit cards offer rates hovering between 20% and 24%, some of their competitors offer far lower interest rates, including introductory offers of zero percent interest and ongoing rates below 10%. These rates, obviously, make it much simpler to transfer and pay off balances quickly. Low interest credit cards are in high demand currently and credit card providers have provided a wide variety of low interest and 0% APR offers to keep their place within the steep competition in the credit card market. You could even find some retailers offering 0% APR credit cards, often including purchase rebates and/or discounts. Some credit card providers even offer the 0% APR for up to 15 months. Utilizing a low interest credit card offers an excellent opportunity when making large consumer purchases as well.

Because the market for consumers with excellent credit is so competitive, low interest credit cards are often available with no sign up or annual membership fees. Many times, these fees will keep the cream of the crop credit customers from applying for their cards. If your credit is unblemished, you can take your pick off offers and you should never have to pay a fee to acquire a low interest credit card or 0% APR credit card ever. The fees are only for those with poor credit, who are a significant risk for nonpayment. Shop around until you find a credit card company that is willing to compete for your business by eliminating fees.

The obvious benefit of a low interest credit card is that you will spend a lot less money over time on interest and fees. One thing to watch is the length of the introductory period. Many cards offer low or zero percent interest for several months, and then the interest rate jumps directly up to 20%. Make sure you read the fine print of any credit card offer before you sign up. The more information you have about your credit card upfront, the fewer unpleasant surprises you will face down the road.

One of the most popular ways to save money with 0% APR credit cards is to transfer a balance from a higher interest loan to a new credit card account. Sometimes, the introductory credit card rates are even better than auto loan rates, so there are some who would transfer their remaining car loan debts onto a new credit card and save on interests, knowing they can pay off the balance of the car before the introductory period expires.

Be aware that cash advances may come with their own fees, and with their own correspondingly higher interest rates. There may be separate interest rates for balance transfers, new purchases, and cash advances. While one way low interest credit card companies make money is from the percentage they gain from retailers and merchants, they also make a significant amount of money from people who do not take the time to read all of the specific terms and conditions that go along with their new low interest credit cards. Again, read the fine print before signing up!

Properly researching the card offer in advance will definitely save you a lot of headaches in the future. Do not be one of the many victims of credit card debt; instead, use your low interest credit card to your financial advantage. The key is to find and utilize the available information. The more information you can gather, the better decision you would make. It would be a shame to rejoice over a newly gained low interest or 0% APR credit card, just to open up your bill after the first month of purchases to find an unpleasant surprise. Low interest credit cards could be a real financial lifesaver, but they could easily become a trap for the unaware. Stay ahead of the game, and know what you are getting into before you apply.

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Its Easy To Find A 0 APR Credit Card

August 12th, 2010 - 
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Millions of Americans have credit cards, using them almost every day for everything from mundane things like groceries to exciting purchases like vacations. But unless you already have a 0 APR Visa, Mastercard, or Discover credit card, chances are youre still looking for one. Who wouldnt want a credit card that offered 0 percent APR?

The APR is the annual percentage rate, and it determines how much interest you pay on your credit card. No-interest credit is the best, obviously; a credit card with no APR means youre paying back only the amount you borrowed, with no additional charges. When the bank makes you a 0 APR credit card offer, youre liable to jump at the chance! But you dont need to wait for the bank or credit card company to come to you. You can get a 0% APR credit card yourself.

First youll need to check your credit score. The credit card companies are more likely to give you a low-repayment credit card as a reward for being a low-risk consumer. Get a copy of your credit report from one of the online sources available — youre entitled by law to one free credit report per year — and see if there are any blemishes that might prevent you from getting a 0 APR credit card. You should check your report even if youre sure youve never done anything to earn bad credit, because mistakes can creep into your report. The last thing you want is to be denied an interest-free credit card because of something you didnt even do!

Once youve confirmed your credit report is solid, or done whats necessary to clean it up, you can apply for a credit card with confidence. There are two ways you can go about getting no-interest credit. One is to approach your current credit card companies and request a lower interest rate. Tell them youd like to do a balance transfer, point out your positive credit history, and ask for zero APR credit. Many times, they will give you 0 APR for a period of six months or a year, which is fine: Before the time is up, you can set up 0 percent APR on a different card and transfer the balance. If your credit stays good, you could move your balance from one card to another indefinitely, thus keeping 0 APR credit for the life of the loan.

Another option is to open new credit cards that have 0 APR offers. These are easily found online, and the 0 APR credit card is usually an introductory offer, which means it switches to a higher APR after six months or a year. The same procedure applies: Take advantage of the offer, and then transfer the balance to another 0 APR credit card before the time is up. Before you get any new credit cards, though, be sure to check into their policies on balance transfers. Some have different APRs for balance transfers as opposed to purchases.

With a little work and careful spending habits, its possible for anyone with good credit to get a 0 APR credit card. Why should the credit card company get all your hard-earned money with its fees and APRs? No-interest credit is the way to go. Good luck, and happy spending!

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0% Balance Transfer Credit Cards – Too Good to be

February 15th, 2010 - 
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0% Balance Transfer Credit Cards – Too Good to be True?

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On the surface, 0% balance transfer credit cards are incredibly enticing, especially if you have outstanding credit card balances. But there are a few details you need to understand before taking the balance transfer credit card plunge.

Some consumers seem to get in trouble overnight with credit cards. Seemingly broke and deeply in debt, some desperate card holders are constantly on the lookout for a quick fix for the credit problems. A 0% credit card balance transfer
might appear to be the perfect solution. Many among us desperately jump at such offers without much forethought. 0% deals on balance transfers or purchases might seem irresistible even to the most credit worthy person. But especially if you have a large outstanding card balance (or balances), a 0% credit card balance transfer will seem especially lucrative. And to no surprise, there is no shortage of these type of balance transfer offers currently available in the marketplace.

Regardless of your credit circumstances, you should exercise caution and thoroughly investigate all aspects of any credit card offer that you consider. Despite the obvious attractions of a balance transfer credit card, it is worth giving a second thought before you cut up your old credit card to make room in your wallet for the new one. Companies often fail to clarify the fine print, hiding those rather unpleasant details which could cost you dearly in the long run.

Let us start with a very typical credit scenario. Imagine having a $10,000 outstanding balance on a credit card with a 10% annual APR, translating to $1000 in finance charges on a yearly basis. On the other hand, imagine securing a credit card that offers you 0% on balance transfers for the first year of membership. Transferring your card balance to a 0% balance transfer offer would cut down your annual interest expense by $1000. Exciting, isnt it?

But did you bother to check what the interest rate would be after the introductory interest-free period? The rate might turn out to be significantly higher than your existing card, and you do not want to be caught on the wrong side of a high APR. Forewarned is forearmed. You will need to plan ahead and not just a day or two before the interest-free period comes to an end. Some consumers might be surprised to discover that when an introductory APR offer expires that the rate of interest can revert retroactively to an APR of 23% and beyond. If you do not pay off your balance systematically and end up with a large balance when the introductory offer expires, many times consumers are stuck paying out an outrageously high APR because they did not pay down their card balance at all. So above all, make sure to plan on paying off that balance before the introductory period expires or you may regret it.

0% Balance Transfer Some Pointers

When considering balance transfers credit cards, help yourself by asking these questions:

- What will be the interest rate once the initial introductory 0% balance transfer period is
over?
- Is it comparable to my current APR or will it be significantly higher? What is the net difference?
- Particularly if you plan to carry a card balance over time, what will be the long-term net effect of the difference in APR’s?
- Do I want to get into the habit of switching from one 0% balance transfer card to another?

If your current credit card offers a better long-term ongoing APR than the new one, it makes more sense to stick with what youve got, especially if you have the means to pay off your card balance without incurring large finance charges. A balance transfer card most certainly has its own pros and cons but if you wish to use balance transfers to your advantage, make sure that you understand the net benefits of the card over the long term.

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0% Apr: How Should You Choose Such Type Of Credit

November 3rd, 2009 - 
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0% Apr: How Should You Choose Such Type Of Credit Card?

As you make your way towards a bunch of credit card types and offers, you may already be knowledgeable enough that there is no point in combating the 0% APR interest in your credit card. You as like the rest of the credit cardholders will typically be overjoyed to be rewarded with a 0% interest rate. Most of the times though, such credit card offer is only applicable during the introductory phase. As you get into the core of handling your credit card, you start facing interest charges for your committed transactions.

Here are valuable things to ponder on when it comes to dealing with the 0% APR on credit cards:

Do not be taken merely by the glitters of the words in print telling you about the 0% APR on the credit card that you wish to avail of. As a matter of truth, the 0% APR covers not only a specific datum but a lot other things. Basically, the 0% APR is applicable to the overall total of the interest rate on a credit card. It goes to show that you will not be charged with an interest on the first attempt of your purchase taken by credit. There is a span of time to cover the offer and as soon as it reaches the end of the duration, you will start to pay the interest rates on your transactions. Furthermore, there are those late fees that you will have to pay in the event that you exceed the lapse of the grace period.

The 0% APR is also applicable to the balance transfer deal. With the 0% APR available for the balance transfer method, you are given the chance of escaping charges as you move your existing credit accounts from other sources into the credit card that contains the 0% APR offer. In this light, you must consider the time span when the offer can be availed of. There are 0% APR plans that can only be availed for a very brief period of time. In this case, you may already be charged at about 4% interest or so.

Dig deep into the available rewards that come handy with the 0% APR. There are card issuers which grant rewards along with the availability of the 0% APR. You may be interested to spot rewards such as student cards, air miles, or business credit cards. The rewards will cover your earning of up to six points for every single dollar that gets charged to the card. As these amounts get piled up, there are cases when rebates in the form of cash or discount rates become possible.

It is relevant that you compare the credit card offers before you plunge into availing any of those in your list of choices. It will provide you with the pleasurable benefits if you take time to shop for other options before signing up for the 0% APR credit cards that you pose great enthusiasm on. You can check the great deals online to be fed with the pertinent information. But if you do not take particular significance in any of those and you will still go for the 0% APR credit card, then just be sure that you are sentient of the terms and conditions included therein. You never know what other tricks are hidden in the wordings of the contract. After all, the 0% APR can be very cunning.

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