How To Get Your Own 0% APR Credit Card

July 11th, 2010 - 
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A great way to do your daily business is to have all purchases put on your 0% APR credit card. The convenience is there of using a credit card, and the luxury of knowing that the amount owed will not receive any interest charged to it. In a day of high interest, you could probably use such a card, and this article will tell you how to look for the one that is best for you and how to get your own 0% APR credit card offers. Here are some things that you should look for.

You Need Good Credit

This is the primary prerequisite to getting that 0% APR credit card. Nearly all credit card companies will require either a rating of good credit or of excellent credit before they will give you this type of card. So, if your credit just is not up to that level yet, know that you can work to bring it up to that level, and then – there are rewards for you when you get there.

It Is An Introductory Offer

The 0% APR is only an introductory offer that lasts for a specified amount of time – not the life of the card. When doing your comparison shopping for a 0% APR credit cards, be sure that you compare the time period involved. It may be for as short as 6 months, a year, or even as long as 15 months.

Balance Transfer Or All Purchases

Some credit card ads that say 0% APR credit cards only refer to the balance transfer option. In other words, only the amount that you transfer from another credit card to the new one receives the 0% APR. All other purchases receive a regular rate of interest for that card. Be sure that you look carefully to see if this is what is meant by 0% APR, or if it means all purchases. Online 0% APR credit card comparison charts will usually show the items in a way similar to this: Intro APR Period and Regular APR. The regular APR, of course, refers to all purchases made after the introductory time period.

Cash Back Option

Why settle for just 0% APR, when you can even get an additional savings? More ways to save – whether it be cash, or points, definitely sweetens the pot a little bit more. Again, though, you have to look around and do that comparison shopping for your 0% APR credit card. Watch out for the need to leave a monthly outstanding balance in order to receive your cash back rewards.

Annual Fee

A rather small percentage of these credit cards do have an annual fee. It seems that they might be hoping that you don’t compare the cards too carefully. This fee can go from anywhere between $15 all the way up to $135.00 (more for a business card).

Interest Rates

Eventually, the day when your rates return to normal will come. Or, typically, if you miss a payment, or are late with it, you can find yourself being charged the full interest rate. Interest rates for these kind of cards are normally low — as long as the payments are made, on time. These rates will vary from a low of about 7.99% up to about 15.99%, depending on the particular card.

With these tips about what to look for when you’re in the market for a 0% APR credit card, you should be able to find just what you need. Do your comparison shopping carefully, and make an educated decision – and keep tabs on your monthly bill, too, for any extra charges.

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Credit Card Balance Transfers – 0% Introductory Offers

June 7th, 2010 - 
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Balance transfers have grown in popularity and importance ever since lenders have started using zero per cent interest rates on balance transfers to lure consumers from other companies to their own.

Introductory Offers

These 0% balance transfer offers give the customer a very low, or zero per cent interest rate on any sum transferred from another credit card, over to them. If you are considering a balance transfer then there are two figures you should be aware of. The first is the APR on the balance transfer, or the balance transfer rate. This will tell you the interest that will be charged on the sum transferred and will generally be very low, or free.

Rate Tarts

In fact these introductory balance transfer offers are what caused the introduction a generation of rate tarts. Basically a rate tart is someone who will search for a 0% balance transfer deal over and over again to save money on interest repayments. They will keep transferring balances and keep the cash they have saved in high interest bearing accounts. In a strange sort of way they actually use the banks money to earn money from them, just what the banks have been doing to customers for years, earning money from their customers savings. However, the banks do not like the rate tarts at all and have declared war. The first step, and a very powerful one was the introduction of the balance transfer charge.

Balance Transfer Charge

The other figure you should pay attention to is the balance transfer charge. While you may be charged nothing on the balance once it is on the new card, you may be charged a fee to get it there. This is usually pretty low, about two to three per cent, but you should be aware of it, and only pay it if you have to, and if you genuinely are going to make use of the low balance transfer rate.

Length of Introductory Offer

Another figure that will be of interest when shopping for a good balance transfer deal will be the length of time that the balance transfer rate lasts. It may be six or nine months, and most cards are generally about this period, but make sure you check, as if one card offers you twelve months at one per cent, and another six months at zero per cent, the twelve month card may be more suitable, depending on your circumstances, than the six month card, even though this card has a slightly lower rate.

Get The Best Balance Transfer Deal Available

If you are looking for a good balance transfer deal, then the most important thing to do, is make sure that you shop around and give yourself every opportunity to find the best deal that is available to you. Today, using the Internet, it is easier than ever to search among a huge range of credit card providers and find out exactly what each one is offering.

Only be doing a little home work and shopping around will you be giving yourself the best chance to find the card offers you the best deals. And with offers varying buy such large amounts from lender to lender, and given the amount that people pay on credit card payments, it is vital that you give yourself every opportunity to find the best deals available.

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0% APR Balance Transfers Credit Cards: Three Top Choices

November 11th, 2009 - 
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There is a lot of interest in 0% APR Balance Transfer credit cards because of the tremendous savings possibilities they offer. You dont have to be an MIT graduate to understand that the 20% you are paying to a high-interest credit card on a balance of $ 10,000.00 is two grand; and if the interest on your credit card was 0% APR, that money would stay in your pocket. It turns out, however, that not all 0% APR credit cards are the same. Major credit card companies, who are competing fiercely with each other at this moment, use a variety of enhancement programs that combine the idea of 0 % APR Balance Transfers and with other add-on bonuses. Consider the offerings of three of the largest credit card companies, how they are similar in terms of the basics, but are putting a twist on benefits:

The Chase Platinum Credit Card

Chase bank has been in the credit card business for a long time, and this card is their standard offer. It has 0% APR on all purchases and balance transfers, provides free online account access, and does not charge an annual fee. The only question about this card is how long does the 0% APR last; and the answer depends on your credit. If you have excellent credit, Chase will give you 0% APR on purchases and balance transfers for a full year. If your credit is good enough to qualify for the card, but not quite good enough to meet the higher standards, that period of 0% APR drops. Still, the opportunity to transfer balances and make purchases at 0% APR makes Chase a good choice.

The Miles Card from Discover

Another industry heavyweight, Discover, has 0% APR credit cards available for purchases and balance transfers. The Miles Card, however, adds the benefit of accumulating airline miles to help consumers choose Discover over everyone else. The company touts their 0% APR credit card for its twelve month duration and the ability to include balance transfers at no interest. The real inducement, however, is the 12,000 mile sign-up bonus and one-mile-for-one-dollar point award. Just to make the deal a little sweeter; there are no blackout dates for these miles and you can fly any airline at any time. You have to have good credit to get one, but the Miles Card from Discover may be a good way to save interest on purchases and balance transfers while building up miles for the next vacation.

Citi Diamond Preferred Rewards Card

This 0% APR credit card from Citi not only gives you 12 months of interest-free funds and no balance transfer charges, it also has a points reward system that gives you redeemable points based on purchases. The program works by offering five reward points for every dollar spent on purchases made at supermarkets, drugstores and gas stations; all other purchases get one point per dollar. You get 5,000 bonus points when you get your card, which can be redeemed for a $ 50.00 gift card after your first purchase. Like the Discover card, you will need good credit to get this 0% APR card, but the initial bonus points and rapid accumulation of reward points for purchases of the basic necessities of life could make this just the card for you.

These days, the question is no longer about finding a 0% APR credit card or a 0% Balance Transfer card; the issue is how would you like that cardwith extra months of interest-free money, airline miles, or other rewards such as incentive point programs? Any person who is currently carrying balances on high-interest credit cards should shop online and take a look at the 0% APR and 0% Balance Transfer credit cards from Chase, Discover, Citi and other companies. You may just find the right card for you.

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