Then you need to look at putting all your credit card debts in one place. If you can transfer your debt to one credit card offering a 0% rate of interest for an introductory period, then even better.

Rest assured that if this sounds familiar, you are not alone. Anyone with a half decent credit history receives numerous invitations to become what is often called a ‘rate tart’ – transferring balances between cards to take advantage of lower rates of interest.

This can be a tempting prospect, especially when the introductory rates are 0% for a limited time period. But there is often more to these 0% deals than first meets the eye.

Get your debts in order with a 0% balance transfer credit card

It is tempting to run up debts on different credit cards. Having a wallet or purse full of credit cards can make you feel wealthy. But beware – the more credit cards and store cards you collect the harder it is to keep track of them.

Monitoring the range of interest rates, minimum payments required and payment dates can eat into your valuable spare time. If you miss payments, the penalty fees are up to 12 a time. The solution is to transfer balances on the cards to one account, minimising the interest rate and administration.

Why pay interest on your debts when you can get if for free

Transferring the balances on your credit and store cards to one account helps you manage your debts more easily. And if you find the interest rate you pay, commonly known as your annualised percentage rate (APR), is rising, then just transfer your balance to another card.

So how do I choose a card?

Without a doubt, paying 0% interest is a lot better than paying the high interest rates charged on some cards, which can sometimes be as high as 29.9%.

The variety of interest rates on credit cards can be staggering. The introductory 0% rate is often offered for between six to 12 months on balance transfers, and sometimes it is just on any new purchases you make with the card.

Sometimes it is even on both!. While you might pay zero interest on the balance transfer, one pitfall to look out for is paying a high interest rate on any new purchases that you might make with your new card. It is always worth shopping around.

Moving cards around sounds too good to be true

In many ways, it is. If you do it too often then you can pop up as a high risk borrower when companies check out your credit history. You also have to take account of the length of the 0% interest rate period, and the interest rate that applies afterwards.

If you fail to pay off your debt, you could be stung by a hefty interest rate when the deal expires.

When is a 0% balance transfer not a free balance transfer rate

Many companies are imposing switching fees now to defend themselves against rate tarts.

You may have to pay a balance transfer fee of up to 3% to your new card provider in order to switch to a cheaper card. If you’re heavily in debt, therefore, it may make sense to consider credit cards that offer low interest rates ‘for life’

Transferring your credit card balance is a solution, not a cure

Putting all your credit card debt on one card is not a long term solution. If you cannot clear your balance each month then you should plan to be debt-free as soon as possible, whether in six months, one year or 10. Balance transfer cards can only give you a breathing space. Your debt still has to be repaid at some stage.

Five things to do before you consolidate credit cards

* Compare the rate of interest you are paying on your credit cards with those available elsewhere in the market

* Double-check whether the 0% interest rate applies to transfer balances, new purchases on the card, or even both

* Look at the rates of interest payable after the 0% period ends and compare charges for late payment, minimum balances payable, etc with those you face with your current credit cards.

* Check what penalties you will pay to your existing credit card lenders to transfer

* Plan how to pay off all your debt over as short a period as possible

* Stick to your budget and don’t be tempted to get into more debt!

What Next?

As we compare all credit card providers you can find the best 0% balance transfer credit cards by look at our best buy tables here:
http://www.moneyexpert.com/Search/Introductory-Balance-Transfer-Credit-Cards.aspx

Advantages of owning a 0% APR Credit card:

Though 0% APR credit cards have a few catches, they can also prove to be advantageous for its users. The best way to assess these cards is by actually using one. If you pay off the monthly balance regularly, then the rate of interest will not be a major concern. Some of its main benefits are as follows:

- Cut down the interest rate: A 0% APR credit card is popular among users with heavy outstanding card balances. It helps them to slash the rate of interest incurred upon their debt.

- Travel benefits: A 0% APR credit cards offer travel benefits to its users. You could profit from this card if you travel by air frequently. Most companies provide bonus air mile benefits on APR credit cards. This could be as much as twenty-five thousand miles, merely by signing up and making your first purchase from this card. The travel facility could also be used for hotel rooms, meals and other additional alternatives. It also provides you with free gas discounts and rebates in purchasing a car.

- Cash back or reward benefits: Low APR credit cards also provide a system where you could get back a percentage of your purchases. You could get a reward of five percent for certain kinds of purchases you make.

- Paying off debt: Transferring your credit card balance that needs to be paid off to a new credit card with 0% APR would be a better money- saving solution, than holding on to the old card with a high rate of interest.

- Start up a new credit history: A 0% APR credit card can be used to establish a new credit history for a cardholder with a previous credit card debt. These cards curb the credit card usage, and initiate the necessity of spending within the budget. However, it might not be issued to people with a bad credit history.

Limitations of 0 percent interest APR credit cards:

A 0% APR credit card often comes with strings attached. Some of the major limitations are as follows:

- Usually, a 0% APR credit card offers the no-interest benefit for only a limited period, such as six months to a year.

- It might not allow you to transfer balances from high interest credit cards during the introductory 0% offer period.

- It could charge expensive fees for the process of transferring the balance.

- Some of these credit cards bear very high penalties for late payments, and automatically transfer you to an inconsistent APR rate.

- It often charges a very high interest rate once the initial offer period expires.

Therefore, although 0% APR credit cards may seem too good to be true, they do have a number of real advantages. While these promotional offers by credit card companies are useful, they need to be taken up judiciously.

This though is not aimed at those who up until now have found it easy to get their hands on any credit card that they choose; this article is aimed at those who find it extremely difficult to get their hands on a credit card at all and can only dream of taking advantage of all the 0% interest deals that are out there.

Your low credit rating can affect your application

This is down to the fact that many potential credit card customers have such a low credit scoring that the credit card issuers; see them as too much of a credit risk. So they ultimately refuse issuing those with a low credit scoring the cards, as they only want those, who they see as profit making customers. This can even happen to you if you have no debt and never have had debt, as the credit card lenders only go on credit information that is held on you on their data bases. So if you have no credit history, they will more readily refuse you one of their cards.

What you have to remember though, is that you should not take your anger out on the credit card company as you have no divine right to expect them to let you borrow their cash just because you want it, they have to be sure that you are a worthy credit risk. To combat this, the first thing that you should not do is to apply again and again to different credit cards, credit agencies or banks for loans, this will only dig the hole deeper for yourself. The next time you apply for any type of credit it will be known that you have applied before and been rejected in the past, so they will find theyre answer easier to come by.

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Get your credit rating background

What you should do is contact a credit reference agency, to see where you are going wrong and maybe find the reason why the credit cards are not letting you handle theyre plastic. Ask the credit card company who have refused you, which credit reference agency they use, this will normally be one of two the main ones which are Equifax and Experian. Once you have ascertained which one it is, you can write to them asking for a detailed run down of your credit history. This will normally cost a couple of pounds, but will be a worthwhile practice to help you get your credit scoring back up.

Once that you have found out where you have gone wrong in the past, you can then begin working on getting your credit scoring up. You may wonder as how this can be done if you are not allowed credit, but by keeping your household bills up to date and paid on time, making sure that you can prove where you live, make sure that you are on the electoral role and make sure that you never lie on your application for credit. These are all simple things and if followed through, you will not only find that your credit rating will go up, you will also be able to build on it and be able to one day get the best credit card deals and when you want them.

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!

There are so many different 0 APR credit cards being offered that you can become overwhelmed. Today, you can find several companies offering 0 APR credit cards and other incentives to get you to apply for their credit cards.

The four most popular offers today include:

Citi Platinum Select Card You must have excellent credit or you will not be approved for this 0 APR credit card. The card offers 0% APR on balance transfers and purchases for your first 12 months. There is no annual fee, you can manage your account online, and there is zero liability on unauthorized purchases.

Chase Platinum Credit Card – With the Chase Platinum credit card you can be approved for their 0 APR credit cards but you must have at least good credit. You’ll get 0% interest on all purchases and balance transfers for up to 12 months. However in some cases 3 months is all you get for 0% on balance transfers (your credit history comes into play). Regardless, you won’t have to pay an annual fee and you can also access your account online. Whether you qualify for 3 months or 12 months of 0% interest, you will be paying a competitively low APR after the introductory special.

Discover Platinum Card With this 0 APR credit card you will receive the 0% introductory special for 12 months on purchases and balance transfers, with no annual fee and 5% cashback on purchases made at certain stores such as bookstores, gasoline stations, and restaurants. You’ll also get 1% cashback on all other purchases and the cash rewards will never expire as long as you are a cardholder, and in some cases, you can even double your cashback bonuses. Keep in mind, that you will need to have excellent credit to qualify for this offer.

Blue from American Express is one of American Express’ 0 APR credit cards that will give you 0% for up to 15 months, no annual fee, a credit card reward program as well as online account access. Once again, you must have excellent credit to be approved.

This is the information that you will first see when you visit the websites for these card offers while you are searching for the best deal on 0 APR credit cards, however, you should never apply with this information only. Be sure to learn if any of the points or cashback options have expiration dates, and above all, always be sure to thoroughly investigate the card offer’s terms and conditions before applying.

What Determines Your Credit?

Your credit depends on a number of factors. Your credit score, also known as the FICO score is widely used as a credit rating for Americans. Since your credit rating will determine whether you are issued a 0% APR credit card, knowing what goes into the score helps a great deal. Your credit score is determined based on five parameters. The most important among these parameters is your current debt and your history of repayment of debt.

The other three parameters for calculation of credit score are the length of your credit history, amount of new credit and types of credit used. Based on these five parameters, the individual is given a score ranging from 300 to 850. This is indicative of the credit worthiness of the person at a particular point of time. People with credit scores above 770 usually qualify for a 0% APR credit card. However scores above 700 are also considered good. 0% APR credit cards typically require, at a minimum, very good credit and often will require excellent credit.

One method used by customers to avoid interest is balance transfer credit cards. It is possible to shift from a credit card that charges interest to a 0% APR credit card using a balance transfer, provided you have the requisite credit. Once the introductory period of the card expires, people often shift to other 0% APR credit cards using the balance transfer method. Doing this however harms your credit rating and can hurt your prospects of receiving good credit in the future.

Prudence Pays

It is good to be informed of clauses like the universal default clause. This clause states that if you default on your payments to one creditor, for example a bank, it affects your credit rating and can increase the rate of interest you are charged elsewhere. Responsible vendors realize that informed customers make for the best customers in the long run.

0% APR credit cards sometimes come topped with other offers. You can find a variety credit card offers online that come at 0% APR from the best companies. Choose the 0% APR card that makes the most sense financially and functionally. And always try to maintain you good credit rating that got you your 0% APR credit card in the first place.