0 apr credit card
Having a credit card is a very important thing these days. You can do everything possible with a credit card. However, when it comes to paying off the balance on these credit cards then people always want the interest to be low and their balance not to exceed much. This however is possible when you have a low interest rate credit card or a 0 APR credit card.
A 0 APR credit card sounds to be a good deal but has its own features. Let us see the features of 0 APR credit cards
0 APR credit card facts
0 APR credit card though seem to be a nice deal but you cannot find a credit card has 0 APR throughout the life of the credit card. This 0 APR is an offer that most of the credit card companies. offer but is for a limited time period known as the introductory offer.
You can enjoy the benefit of having a credit card for only a limited time usually 3-6 months. However, most of the people opt for new credit cards to benefit from this 0 APR introductory period.
When you take a credit card that advertises 0 APR you should make sure that you ask the provider about the time period for which this offer is applicable and what would be the rates and the terms on the card after the introductory offer gets over.
Using a 0 APR credit card
Usually when you are looking forward to pay off your credit card debt you would go in for debt consolidation loans or apply for home equity loans. However, if you still have a manageable balance on your credit card then you can use a 0 APR credit card to consolidate the debt on other cards. With the help of the 0 APR credit card you would be able to pay more money towards the balance rather than towards the interest.
When you opt to consolidate your credit card bills into your 0 APR credit card then you are required to transfer the balance from the other credit cards to the 0 APR credit card. Every month you make payments towards the card and pay off the debt towards the other credit cards.
The features of a 0 interest rate credit card are quite attractive and these offers usually gain a lot of attention from people. When you take a 0 interest rate credit card then you should keep in mind that the interest rate on the 0 interest rate credit does not always remain 0. These are just the introductory rates and would change once the introductory period gets over. But during the first six months or a year you can have the advantage of paying 0 APR on all the purchases that you make.
Before taking 0 APR credit cards
Before you take a 0 APR credit card you should make sure that you know your financial condition and whether you would be able to make the payment towards the credit card every month.
Besides you should also make sure before signing for the 0 APR credit card about the interest rate that the credit card dealer would charge you once the 0 APR introductory period is over. The features of a 0 interest rate credit card sound to be attractive to all the borrowers but it is very important to read the terms of the credit card before applying for any sort of 0 interest rate credit card. You should realize the fact that when you take a 0 interest rate credit card the interest rate would not remain 0 for the entire life of the card.
When you apply for 0 APR credit cards it is important that you get a copy of your credit report and, check it for any possible errors and check your credit score. In order to get approved of a 0 APR credit card you are required to have a good credit score and history. The definition for a good credit score varies from one credit card issuer to another. Before you apply for a 0 APR credit card with a provider you should ask the provider about the guidelines that they follow for approval. By doing this you can avoid unnecessary questions about your credit.
0 APR credit cardsSome of the credit cards that give out 0 APR credit cards are mentioned below.
Citi" Platinum Select" Card: They offer 0% APR on balance transfers and purchases for 12 months and do not charge any annual fee. You can manage your account online and also apply for the card online and get instant approval.
Discover More Card: They offer 0% Intro APR on Purchases and Balance Transfers for 12 months. Besides they also offer 5% Cashback Bonus in popular categories like travel, apparel, home, gas, restaurants, movies etc., unlimited cash rewards and many more benefits.
Blue from American Express: With this credit card you can enjoy 0% APR for up to 15 months with low Balance Transfer APR 4.99% Fixed APR for the life of the balance
. There is annual fee involved and you can enjoy different reward programs.
Chase Freedom Sm Visa Card: With this credit card you can get 0% APR for up to 6 months and No Annual Fee. You can also enjoy a $50 Check once you\'ve earned $50 in rewards and earn 3% Cash Back for every eligible $1 spent in purchases at Grocery Stores, Gas Stations, and Fast Food Restaurants and many more benefits.
Bank of America Visa Signature" WorldPoints" Rewards: They offer 0% Intro APR on balance transfers for your first 12 billing cycles and you can earn 1 Point for every dollar you spend in net retail purchases. You can also have an advantage of no annual fee and enjoy more savings and more extras.
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