0% APR Credit Cards: How To Take Advantage Of 0% Introductory Offers
By: Ed Vegliante
In today’s credit-driven world, companies want your business, and often offer enticing deals to get it. Perhaps one of the biggest of these deals is the 0% APR feature. Many credit cards come with a certain period in which you pay absolutely nothing in interest. This can really work to your advantage. If you understand how the 0% APR offer works and plan strategically, you can make the most of your credit card deal. Here’s how.What APR Means
The annual percentage rate, or APR, represents how much you pay in interest on a credit card. It is expressed as a yearly rate. So if your card comes with an 18% APR, and you carry a balance of $1,000 for a year, you will have to pay $180 in interest annually.
However, if you apply for a 0% APR credit card, you will not have to pay anything toward interest for an initial period of time. This timeframe varies from card to card, but usually lasts between six months to a year. Let’s say your card comes with a 0% APR for twelve months. If you carry a balance of $1,000 during the first year, you will not owe a dime in interest. That’s a savings of $180 compared to the card with a rate of 18%.
Balance Transfers vs. Purchases
Some cards let you apply the 0% APR toward balance transfers. This means that if you are carrying a balance on a different card with a high interest rate, you can bring over the amount to your new card. Then you can pay off the debt, interest-free. This is a great option if you’re struggling to pay off a nagging balance. Simply bring it over to the 0% APR card. Then try to pay it off during the interest-free period. So if you have a balance of $1,200 with 0% APR for six months, set aside $200 each month and pay off the debt.
Other cards apply the 0% APR to purchases. With this setup, you can use the card to shop, and then not worry about paying interest. You will have a few months to get rid of the balance, and will save a good amount of money in interest during that time.
Finding a card that offers an introductory period of 0% APR for balance transfers, purchases, or both, is easy. Most major credit card companies, including Visa, MasterCard, Discover and American Express, include it in their list of features. If you browse a credit card website, you’ll quickly come across 0% APR options. As you look through the different listings, note which cards offer a zero percent introductory rate and for how long. After a certain period, a regular interest rate will set in. Check what the normal rate is before you apply.
Use it to Your Advantage
The benefits of a 0% APR card can add up fast. If you want to pay off a balance, you get the chance to do so without having to worry about interest. If you want to make a large purchase, you can take a few months to pay for it with zero interest charges. Fill out an application today, and get ready to watch the savings rack up.
About: Click here to find 0% APR Credit Card Offers. Ed Vegliante runs www.Credit-Card-Surplus.com, a directory helping consumers to compare and apply for credit cards.
Source: Www.isnare.com
How To Get Credit Cards With No Balance Transfer Fees
By: Gordon Goodfellow
Credit cards with no balance transfer fees are probably not the first option people consider when they are in a financial jam, but they should be. Why would anyone in their right mind pay hundreds of dollars of interest every month if they don't have to? Whatever the reason, most of us have done it. Perhaps the credit card dance of robbing Peter to pay Paul does cause us to lose touch with our financial reality. It certainly can keep us so busy that we don't see the solution even if it is looking us right in the eye.There is a lot of competition among lenders to gain new customers by marketing credit cards with no balance transfer fees and of course the best rate of all is zero. You can take advantage of this competition to transfer the balance of your current credit cards to an introductory offer low interest card and in so doing save hundreds of dollars every month. If you use this saving to reduce your credit card balance, your decision can help you establish a solid financial future. Furthermore, there is nothing to stop you from transferring the balance again at the end of the introductory period to yet another low rate card.
Don't worry about how to get credit cards with low interest rates, there are plenty on the market. The easiest way to find them is to do an internet search. Specialist credit card sites that offer a range of cards to choose from, including introductory low rate cards, provide the most convenient way to research, evaluate and apply for a balance transfer credit card. For many people working hours and other obligations can get in the way of being able to conduct business during normal hours. Online applications can be done from the privacy of your own home at any time of day.
Look for the longest introductory period when you are evaluating credit cards with no balance transfer fees. Ideally, your introductory period will be at least twelve months. This is long enough to avoid serious inconvenience if you want to transfer the balance again at the end of the low rate term. It also is also a long enough length of time to be able to make serious inroads into debt reduction. If you are already experiencing such severe deprivation that you cannot continue paying out the same monthly amount, even to pay down debt, then you can put more money in the family budget and use a smaller amount to reduce your credit card balance. If you don't take action to reduce your debt, you will ultimately find yourself in the same situation.
Be prepared to use the introductory period to pay down your balance as well as to simply take pressure off your budget. Credit cards with no balance transfer fees can have a long term positive impact on your finances if you are prepared to sacrifice some of the immediate interest savings to reduce debt. Transferring your credit card balances to a low rate, balance transfer card can make a world of difference to your finances and your life. You have nothing to lose and everything to gain.
About: Our credit card site shows you how to get credit cards with no balance transfer fees which remain interest-free for years. The associate site offers UK credit card balance transfers in the UK. Download free 0 APR credit card software and get 0 interest credit for years. Source: Articlesbase.com
