How to Find 0% Interest Credit Cards

January 5, 2010 by  Filed under: Credit 

Are you in the market for 0% interest credit cards? They most definitely can still be found. There’s just not nearly as many as there used to be just a few short years ago. The recession and the tightening of credit amongst banks and financial institutions has made these offers tougher to find.

It wasn’t all that long ago at all that 0% APR card offers were seemingly everywhere. Card issuers aggressively used them to not only attract new customers but to also try and lure customers away from their competitors. As it turns out it was actually a rather effective promotion.

Zero percent offers are of course for an introductory period. The intro period usually lasts either 6 months or 12 months. When the introductory rate expires the agreed-upon APR immediately takes effect. That rate is predetermined by the issuer and should be spelled out in the disclosure statement.

Another very popular tactic of the issuers, which tied right into 0 interest credit cards, was a balance transfer option. It was not at all uncommon for people to transfer their balances from one issuer to the next when their interest rates became rather expensive. It was a cottage industry unto itself.

Those days are over now. The credit card industry is facing record high default rates and has become quite selective when screening potential cardholders. Not only is your interest rate predicated upon your credit rating but also whether or not you’ll even be granted a credit card.

With that said there are still several offers available with a 0% APR. By checking on any one of the better comparison websites you will be able to find these types of offers and compare them for yourself. There are usually categories devoted to low interest credit cards.

It is also very important that you read the terms and conditions so that you fully understand what the APR will be when the introductory period ends. Far too many people suddenly find themselves paying very expensive bills because they seem to have forgotten that they would in fact someday be held responsible for paying interest on the credit that was extended to them.

Please be sure to carefully read the disclosure statement so that you fully understand not only how long the introductory period lasts, but what your financial responsibilities will be when it ends. In addition to how much interest you owe, you also want to know exactly what the fees are. These are the things that determine your true cost of credit.

Interested in Finding a 0 Interest Credit Cards?

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

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

~Morgan

Article Source:

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

Morgan Hamilton - EzineArticles Expert Author

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