While cardholders cannot expect accounts to remain interest free, a low or non-existent
introductory rate buys them time to pay down their debt without accumulating hefty
finance charges. Applicants should remember to shop wisely for any type
of charge account, and interested consumers can further educate themselves by visiting
the Federal Reserve
Board Website to access an informative consumer-lending handbook.
Selecting a 0% APR Credit Card
Qualifying for a credit card that offers an introductory 0% APR usually entails
having an excellent credit rating. As a holder of an excellent credit rating, you
should be judicious in making sure that you’re applying for one of the best credit
card offers online.
After all, credit card issuers are competing for you, not the other way around.
Each of the cards listed above has an introductory 0% APR rate ranging from six
to eighteen months, but it is important to understand all of the many different
factors associated with the account. When comparing no-interest merchant accounts,
you should find out answers to the following questions:
- Is the introductory APR applicable to balance transfers and purchases?
- Does a fee apply to balance transfers?
- How long does the introductory rate last?
- What is the interest rate after the 0 percent offer expires?
- What happens to the interest rate if you miss or are late on a payment?
What are the trade-offs to a no interest card?
Most of the time, when credit card issuers give something away they get something
back. Your no interest credit card may well come with higher fees or reduced benefits.
Before you apply for a credit card, consider what you may be giving up:
- How much are the fees, annual and otherwise?
- Does the issuer offer premium rewards programs?
- Do the rewards benefits offset applicable interest rates?
- What are the caps on rewards or cash-back programs?
- Do you sacrifice other features such as customer service itemized statements?
Because finding out the answers to those questions can be trickier than you think,
here at CreditCardApplications.com, we provide consumers with a list of those
cards with 0 percent (no interest) introductory options on the market today, including
information about each card's post-introductory APR, annual-fee structure, and reviewer
ratings. Luckily, with cards from Capital One, Citi, Chase, and Discover, we have
some of the best 0% APR credit card deals online.
Always consider the big picture before you apply for credit cards.
When you apply for credit cards,
it can be a mistake to consider only the Introductory APR. Sooner of later, your
low interest rate will go up. Consider the long-term costs of each credit card offer
as well as the benefits.
Your best credit card application is the one that saves you money in the long-haul.
To find your best credit card, check the numbers.
Reading about the benefits of different credit card programs is great and most benefits
sound appealing. The best way to know for sure that you’ve found your perfect credit
card is to check the numbers. To learn how to put a dollar amount on the costs and
benefits, see our news article:
To get your best credit card application, do the math!
Don’t pigeonhole yourself. While an introductory Interest Free credit card deal
can be a great offer, there are many different types of cards available. Unless
you’re absolutely sure that this type of card is the best for you, take your time
to look around. With hundreds of different options, our site has the best credit
card deals online, so you can be assured of finding something that suits you.
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