0 APR Credit Cards – Save With Zero Interest Offers

April 1, 2010 by  Filed under: Credit 

I can think of few better ways to save than by taking advantage of 0 APR credit cards. Of course, these are introductory rates but they also afford the consumer the opportunity to efficiently and intelligently manage their finances in several ways.

For example, getting a credit card with 0% interest, whether it be for 6 months or 12 months, is ideal if you plan on purchasing a big-ticket item such as a television or appliances. The reason for this is because it is more or less an interest-free loan while the intro period lasts.

If you don’t have all the money up front you can buy the merchandise you are interested in and as long as you make at least your minimum payments each billing cycle and pay it off in full prior to the introductory period expiring then you will not be charged interest.

Another way in which 0 APR credit cards are an effective financial tool is if you currently carry a balance that charges high interest rates. The key here is whether or not there is a balance transfer option available. If there is then you can take advantage of the introductory interest rate and transfer your balance to the zero APR offer.

APR stands for annual percentage rate and is a calculation of what you will pay on money that you borrow. It’s basically the cost of borrowing money and is the basis for how modern economies function. Whenever the lending of money is involved the APR will spell out how much the borrower will need to pay the lender.

While 0% offers are not nearly as prevalent as they were just a few short years ago, they are still nevertheless available. A sound credit card comparison website should make it very easy for the potential cardholder to compare offers from the leading issuers including American Express, Chase, and Discover.

Please do not make the mistake of basing your decision of what card you wish to apply for strictly on a single criteria. While it is nice to get zero interest on a card you must also be fully aware of what the interest rates will be once that introductory period ends.

You must also be aware of other important factors including annual fees, late fees, credit limits, grace periods and so on. This information can be found in the disclosure statement often under the title of terms and conditions. It must be carefully read and understood.

Interested in Comparing 0 APR Credit Cards?

Compare 0 apr credit cards to find the one that best suits your needs.

Visit BestCreditQuote.com to review offers and apply for a credit card online.

~Morgan

Article Source:

http://EzineArticles.com/?expert=Morgan_Hamilton

Morgan Hamilton - EzineArticles Expert Author

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