Credit Cards with Zero Percent Interest

There are hundreds of companies that offer zero interest credit cards with different features and offers, but how do we know which is the right one for us? Well here are few tips that will help you apply for a credit card that best serves your interest.

1. Know how long the introductory period is: Though zero interest credit cards might seem to be an attracting offer, just do not come to a conclusion that the offer will last forever. These companies offer zero interest on your credit card only for a couple of months. Some offer a three months interest free credit while others offer six months, and others up to a maximum of a year.
2. Know the interest rates and the transactions on which zero interest is offered: Most of the companies offer zero interest either on balance transfers or not on new purchases. There are very few companies that offer 0% interest on both the transactions. So research the terms on which the card is been offered.
3. Know the APR rates: Also check out the APR and the interest rate beyond the introductory offer, as you may end up paying the annual fee twice a year. Check if the annual fee is somewhere between $50 to $80, else you might end up paying more and thus spending all that you saved from the free interest.

Though the above mentioned tips are the basics one to follow before applying for an interest free credit card, it is always advisable to pay your bills on time and don’t use your card a lot. This way you will have good credit ratings that will help you secure any future loans with ease.

Things to be Considered before Applying for a Credit Card

Credit cards have become one of the most powerful financial tools in today’s world. It stands for a symbol of status. Most of us today prefer carrying a simple plastic credit card to cash, as it is far more convenient and secure. With the kind of offers and schemes available in the market today we often get confused in choosing the right kind of card for us. Today let’s look into the aspects of what to look for when researching credit cards.

Things to be considered while applying for a credit card:

• Research on company you intend to receive the credit card from. Know the company status, present interest rates, annual percentage rate, terms and conditions and so forth. You can do so by directly visiting your local bank, by reading the financial magazines, by researching on the internet and the most important and convenient way is to talk to your family and friends who own a card themselves. This way you will be able to know about a couple of good offers and chose the best among them depending upon your needs.

If you intend to apply for a zero interest credit card then look into the following aspects:

1. Find out how long the introductory period last.
2. Interest rates beyond the offer period.
3. Check if the interest free offer is on both balance transfers and new purchases or just on one or the other.
4. The annual percentage rate and the occurrence of APR i.e. is it just once in a year you need to pay it or more than that.
5. Check the terms and conditions thoroughly before signing in for any card as such.

Most of the companies offer less interest rate depending on your past credit ratings. So it’s a wise decision to have some temporary savings than end up using your credit card and then failing to pay back the amount. This way you are able to avail low interest credit card as well as enjoy all the benefits and goodies that these companies offer to its customers on timely payment of the bills.

Thus, consider these small tips while applying for a credit card will help you reap better financial benefits. This in turn will make you financially free and secured.

Zero Interest Credit Cards

At a time when credit cards are burning a hole in our pockets, zero interest credit cards have come as a blessing in disguise for many. They are enjoying a huge popularity in the market today. Especially to those who pay their bills on time, a zero interest credit card is a very attractive offer which should be grabbed without a second thought. However there are certain things that need to be taken into consideration when you apply for such a card:

Though zero interest on a credit card sounds very interesting and attractive, we also need to know if there are any others charges levied on these cards such as the annual percentage rate, interest rate after the introductory period etc. Normally most of the credit cards carry an annual fee of $50 to $80 a year, anything more than that will not be worth it as it will take away all the savings you get from the free interest.

Some of the interest free credit cards impose more than one annual percentage rate i.e. they interest charged on the balance transfers is different from the interest charged on the purchases. Some of the credit card companies would offer a zero interest on balance transfers but would unreasonably charge you high on purchases. So it’s advisable to have detailed information about it.

Check the interest rate beyond the introductory period. It would be too risky if you don’t examine the terms and conditions of the card as few of the cards would carry the zero percent offer for just one month while the other for 3 months, 6 months or up to a year. So do take into consideration the time the offer would be valid up to. It is also important to know the rate of interest applied after the scheme is over. Will it still be a good choice to carry on with the same card or will you end up with higher interest credit card than the credit card you acquire today?

Apart from these there are also certain other points that should be noted before signing for a credit card with zero interest such as grace period offered after the introductory period to pay off the amount, the credit requirements of the card you chose, the type of APR offered, checking the other costs linked with your card and so on. Once all of this is taken care of then you can enjoy the benefits of the zero interest credit cards.