Who wouldn’t like a credit card? With one swipe you can buy more than the cash that you are carrying. The average American thrives on credit cards but unfortunately lands up in debt more often than not. The credit cards usually carry a high rate of interest and when you overspend, and then the interest, too, automatically mounts up. With a 0 percent APR credit card, you will have to pay only for what you spend and not more.
Your Debt Eased Up! APR, to make things easier for you, is Annual Percentage Rate, which the lenders use to calculate the total cost of borrowing. With a card having no interest, it will be a good opportunity for you to save on all your daily expenses and other money transactions as well. A 0 percent APR credit card will come in handy to you if you need to make balance transfers. For instance, if you have a debt on a card with 20% interest rate, then you can transfer it to your 0 percent APR credit card and pay it off more comfortably.
The 0 percent APR offer on credit cards is available to you for a predetermined period of time, and it is up to you to make the best of this opportunity and save. Having savings in today’s economy is essential because the prices of commodities are going sky high and subsequently the cost of living is also rising. A credit card in your pocket is always useful because you don’t need to carry cash around and also can buy for more than the cash that you have.
Shopping Won’t Make You Feel Guilty However, often we tend to go overboard with our shopping and end up in debt which is added to by the interest to be paid on the cards. With a 0 percent APR credit card, you will at least not fear the high interest to be paid even if you shop a little more. A 0 percent APR credit card is definitely a sensible option for credit over the regular high in interest options. Of course, once the 0 percent APR period of the card ends, you will have to pay some interest but that is only marginal in comparison to the rates in the market.
The 0 percent APR credit card also gives you additional benefits like a 5% cash rebate on filling up at your favorite gas station and also options like a rewards section where paying a nominal amount will offer you advantages like discounts on your grocery and other expenses plus another option of expense management. Your late fee fine for this card won’t exceed $30, so even if there is no grace period it won’t matter.