Credit Cards And 0 Percent APR Credit Cards

Credit cards have APR ranging between 10% and 18% with some having APR that are as high as 22% to 25%! This means that on any purchase made through the card the customer has to pay a corresponding interest. The way the credit card firms calculate the APR may vary as per the card you select and the firm that offers the card. The APR charged may be the same for purchases and balance transfers. The APR may be calculated at different rates for all of them including cash advances which have a higher APR normally. The APR may be calculated with regards to the account balance levels. Generally, all the top-notch credit card firms offer 0% APR credit cards for an introductory period that may last for 6 months or 12 depending on the card selected. If late payments are made a penalty APR rate may apply.

Some Interesting Facts About 0% APR Credit Cards

The cards offer 0% APR for an introductory period only and the regular APR may be applicable at the end of the offer The duration of the 0% APR offer can vary from card to card The 0% APR may only apply for new purchases, with a different APR being applicable for balance transfers and cash advances The 0% APR may only apply for the balance transfer Some cards may have a certain fixed maximum amount limit for balance transfers and any fund that exceeds the limit may be charged the higher, regular APR The payments for purchases made during the 0% APR has to be paid off before the offer ends to avoid a higher APR being applied to the balance that is due The regular APR varies among different cards and you can opt for a card that offers the longest 0% APR term with reasonable APR after the offer of 0% APR expires Some 0% APR cards have certain terms such as regular monthly minimum payments being made on time to avoid the offer being revoked or nullified making your balance vulnerable to be taxed as per a regular and higher APR Some credit card firms offering 0% APR have high annual fees or transfer fees which customers may not be aware of, so enquire if there are any such fees associated with the card of your choice

The people who stand to benefit the most are those who have a considerable amount due on other higher APR cards. They can use a 0% APR credit card to transfer their dues and save considerable amounts of money paid as interest, which can be applied to pay off the principal amount. So the next time you get an offer about 0 % APR credit card do some research, find out the details and apply for a 0 % APR credit card.