0 Percent Credit Cards-Are 0 Percent Credit Cards Really Any Good?
2:51 AM
When scouring through the many different credit card programs, low APR or 0 percent credit cards may look appealing, but there's always more to take into consideration. You may find a better choice from the number of rewards credit cards, airline credit cards, cash back credit cards, platinum cards and no annual fee credit card offers. Knowing your options is important for any decision you to make. 0 percent credit cards have many great advantages but they may not always be the best choice for you.
Are Your Needs Met?
How you intend to use your credit card will determine what card you actually choose. Given the tough economic times, 0 percent credit cards are very appealing to consumers right now. Rather than fully paying off their bill each month, more and more consumers may find themselves struggling with credit card debt. A low or 0 percent credit card can help minimize finance charges.
0 percent credit cards would not mean much to you if you intend to pay your credit card balance at the end of each month. You might find yourself more attracted to a rewards offer or a cash back credit card with no annual fee and a longer grace period. It's important to pick the right card with the right benefits that will fit all of your needs.
What To Consider When Shopping For A Credit Card
Are you going to transfer a balance?
Most 0 percent offers are only for an introductory term of 6 to 18 months; some offer a higher rate for a longer period of time. When you are transferring a large balance, you may find that a longer introductory period is the best option for you.
Where do you spend the most?
A good number of rewards cards offer extra points for spending in certain categories. Get a rewards card that gives you cash back, bonus points or travel miles at the locations where you spend the most. For the majority of consumers cash back credit cards are going to be the best option to go with.
How's the customer support?
Qualified customer service reps can tell you how much you'll save with a balance transfer offer, help with a dispute, and notify you of potential unauthorized charges. Customer support and online resources save you both time and money. Changing a due date to one that fits better with your schedule, making a same-day payment with no additional charges, or being notified of special promotions and reward offers add even more worth to your credit card.
The Details
Don't forget about added perks such as car rental insurance, travel assistance and automatic travel insurance. Always be sure to read the small print to see the terms of your low APR or 0 percent credit cards. Your customer agreement will will give you information about the grace period(the time you have pay off your card balance before additional interest charges are added), and what rates, fees and restrictions that are included. The more information you know the more value you will receive from 0 percent credit cards or any credit card offer that you choose.
Are Your Needs Met?
How you intend to use your credit card will determine what card you actually choose. Given the tough economic times, 0 percent credit cards are very appealing to consumers right now. Rather than fully paying off their bill each month, more and more consumers may find themselves struggling with credit card debt. A low or 0 percent credit card can help minimize finance charges.
0 percent credit cards would not mean much to you if you intend to pay your credit card balance at the end of each month. You might find yourself more attracted to a rewards offer or a cash back credit card with no annual fee and a longer grace period. It's important to pick the right card with the right benefits that will fit all of your needs.
What To Consider When Shopping For A Credit Card
Are you going to transfer a balance?
Most 0 percent offers are only for an introductory term of 6 to 18 months; some offer a higher rate for a longer period of time. When you are transferring a large balance, you may find that a longer introductory period is the best option for you.
Where do you spend the most?
A good number of rewards cards offer extra points for spending in certain categories. Get a rewards card that gives you cash back, bonus points or travel miles at the locations where you spend the most. For the majority of consumers cash back credit cards are going to be the best option to go with.
How's the customer support?
Qualified customer service reps can tell you how much you'll save with a balance transfer offer, help with a dispute, and notify you of potential unauthorized charges. Customer support and online resources save you both time and money. Changing a due date to one that fits better with your schedule, making a same-day payment with no additional charges, or being notified of special promotions and reward offers add even more worth to your credit card.
The Details
Don't forget about added perks such as car rental insurance, travel assistance and automatic travel insurance. Always be sure to read the small print to see the terms of your low APR or 0 percent credit cards. Your customer agreement will will give you information about the grace period(the time you have pay off your card balance before additional interest charges are added), and what rates, fees and restrictions that are included. The more information you know the more value you will receive from 0 percent credit cards or any credit card offer that you choose.
About the Author:
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