The process of selecting a good credit card from all the available offers has become a lot easier, with the apparition of so many comparison websites, which provide the user with the possibility of sorting through so many offers. In order to find a good 0% APR credit card, you should learn about the card’s features and the company’s terms and conditions and check to see if it will help you save money in the long run.
Subject to the 0% APR offer are usually balance transfers or new purchases. Before selecting a credit card, you should have clearly pointed out what are you planning to use it for, whether you are going to transfer the balance from a higher interest rate card or you plan on making new expenditures. If you already are a cardholder and you carry a balance on another card, you can transfer it to the 0% APR credit card, without paying any transfer rates. This is a great way to get out of accruing debt. However, if you decide to acquire a 0% APR card on balance transfers, you should not use this credit card for shopping, as it is likely to pay high rates for new purchases. Likewise, if you think about selecting a 0% APR credit card on new expenditures, it’s better not to make any balance transfers.
When you are looking for a 0% APR credit card, search for companies which offer a longer promotional period, like a year or 15 months. Next, get info on the interest rate you will be charged after the introductory period expires. This is very important to take into account, because what might seem like a great offer can quickly turn into a nightmare when the introductory period expires. Another important thing to check is for annual fees, if they exist and how much you’ll have to pay. There are companies that will charge this separate annual fee and others that do not. Moreover, learn about additional fees and the credit limit you are provided and put all this information together before selecting the 0% APR credit card.
To avoid higher fees or other penalties, you should act responsibly with your 0%APR card and use it properly. Also, read the terms& conditions section on the credit agreement and the fine print, before signing and submitting it. Far too many people overlook this aspect, only to wake up after the introductory offer has expired with huge interest rates on their balance. Don’t forget to make the monthly payments in time, in order to avoid paying lateness fees or worse, to have the introductory offer suspended, as the loan issuer is entitled to this, in case you fail to pay the fees in due time. The 0% APR card can easily work in your advantage, as long as you abide by the credit card company’s rules and don’t fail to make the monthly payments at the end of each billing cycle.