Do you have an offer for a 0 interest credit card?
These offers came from several credit card companies including Citibank, Discover, American Express, Bank of America and Chase. They are offering the card to give the consumers an opportunity to take advantage of the benefits of 0-interest rate.
Zero 0 APR Interest Credit cards
Nowadays, it is a common knowledge that consumers are carrying lots of credit card debts.
This leads these consumers in looking for some ways possible to consolidate their debts into a single account with low interest rate.
It is at this point, where the zero-percent interest credit card comes in. The zero rates are always an introductory rate for this type of card.
If you are interested in having one, it is necessary to know something about the card before applying.
- What is a zero-interest credit card?
- What are the advantages of having one?
- How do you suppose to make a wise choice for a zero-interest credit card?
- What are the requirements to qualify for this type of card?
What is a Zero-Interest Credit Card?
The 0 interest credit card is a card offered with a zero-percent introductory rate that is beneficial to use for a limited period, usually between six to twelve months.
After the introductory period, the zero rates will be adjusted to the standard interest rate.
The card is offered by major credit card companies and can be obtained online.
- The basic benefit of cards with zero interest is to save some money. User of this card can have a substantial amount of savings during its introductory period.
- With the zero-percent balance transfer, the balance of the transfers made will have no interest charges. This is applicable until the time that the zero-percent introductory offer expires. Let us say, the balance transfer is at zero-percent interest rate for the period of six months, you will not be paying any interest on the balance transfer during that period.
- Application for 0 interest credit card would require good to excellent credit ratings. The rating will come from the report of credit bureaus.
- Credit card companies need the information in making their decision whether to approve your application or not.
Since zero interest cards require paying your balance on time, the applicant should be responsible and capable of managing his finances very well.
Making a Choice
When you intend to apply for a 0 interest credit card, it is important to understand the factors involved in making a choice which credit card company can provide the best card.
One essential consideration is to know the coverage of the zero interest. Choose the card that offers balance transfer with low fees, and that has longer introductory period where you need not worry of paying any interest.
Check on the favorable provisions regarding no-cost balance transfers, and make sure that there are no conditions or terms that are not clear to you.
Knowing and understanding the fine prints will save you from incurring unreasonable fees and other charges.
Having the best 0 interest credit card will provide you with savings by being exempt from paying interest fees for a time. It is a good option for people who intend to settle their credit card debts.