If you believe that the thought of Zero Interest Credit Cards and zero percent balance transfer credit cards seems like a fool’s paradise that can’t possibly occur, think again. These offers do exist, and there are a great variety to choose from. But it is important to understand several caveats first before you apply.
First of all, to qualify for these introductory rates you must have good, if not excellent credit. You may even want to check your credit rating before you apply. But that isn’t necessary because there are no charges for submitting a 0 interest credit card application. It is however, a good idea to know your credit rating at all times.
It is always advisable to review and compare these 0% APR balance transfer credit cards to see exactly what it is they have to offer. While many of these offers look great on the surface, you must always read the fine print so that you are not unpleasantly surprised with a sky high APR down the road. Zero Percent Credit Cards can be a wonderful asset, but the free ride doesn’t last forever.
Featuring Zero Interest Credit Cards
The number of no annual fee 0% interest credit cards offers has multiplied exponentially over the past few years. Banks and financial institutions absolutely love them. For them it’s like printing money. Financial crack if you will. They are a great way to attract new customers. 0% balance transfer credit cards are extremely attractive and have pretty much become an industry standard.
This is in fact good news consumers. Competition amongst issuers like American Express, Bank of America, Citibank and Discover Card absolutely benefits the card holders. It’s real easy to spot too. All kinds of perks and incentives are offered now in the form of rewards, cash rebates, travel, dining and merchandise. The credit card companies gain new customers through no annual fee offers, 0% interest offers, and low percentage rates.
Taking Advantage of Balance Transfers
The banks and credit card issuers are not only looking for the first time credit seeker that has never owned a credit card, but are also trying to lure away customers from their competitors as well. They do this by enticing people that currently carry balances with high interest rates with various offers from the best balance transfer credit cards.
It is important to note, and I can not stress this enough, that these zero percent interest credit cards are for an introductory period that usually varies between six to 15 months. You must also be aware of what the APR will be after the introductory rate expires. Be sure to compare the zero percent credit cards so you will know exactly where you stand if you carry a balance.
If you are transferring a balance, or are consolidating debt, then look for the applications that have no balance transfer fees. And while you’re at it, take a look at some of the other benefits that zero interest credit cards have to offer. The cash back rewards and gas reward cards can definitely help keep more of your hard money where it belongs… with you.