A 0 percent APR credit card is offered with an ‘annual percentage rate’ of nothing. This is usually an introductory offer spanning between three months to a year, after which credit card companies charge a slightly higher interest. Before going in for a zero interest credit card, it would be smart to check out the ‘no interest’ duration and the new rate after the offer ends. This way, you can use your card carefully to avoid falling into a debt trap.
A Free Loan In An Emergency If you suddenly find yourself in a pinch situation and need to travel or pay medical bills, then you can surely count on your 0 percent APR credit card to bail you out. You won’t have to rush to a bank or apply online for a loan. One swipe of your card and the bills are paid. What’s more, you don’t have to pay a single buck as interest. Apply for a 0 percent APR credit card and explore the new avenues that open up for you.
Benefits Of A Zero Percent APR Credit Card The biggest advantage of a 0 percent APR credit card is that you can pay off the outstanding balances on your other credit cards. Most ordinary credit cards charge an APR of around 13% or an introductory interest rate of 6% - 8%. If you have dues on your other credit cards, you will save a lot if you discharge the debt by charging it to your zero percent APR card. After this, all you need to do is to pay of the monthly balance of your zero percent credit card regularly and you are on your way to becoming debt free.
Another advantage of 0 percent APR credit cards are the travel benefits available to customers. If you are a frequent flyer then you earn bonus air miles every time you use the credit card to purchase an air ticket. In fact, many folks have been granted as much as twenty-five thousand miles just on signing the application form. What’s more, you can also check into selected hotels and get meals at discounted rates. Additionally, it also entitles you to free gas discounts and rebates while buying a new car.
Zero percent APR credit cards also have a process by which you get cash back for buying certain items from predetermined stores. Moreover, a 0 percent APR credit card can also create a new credit history for a person. Because these cards force people to spend within a plan, they are considered beneficial to users. Of course, before you get a credit card, make sure you read the conditions thoroughly. Intelligent use of the credit card ensures that you put the ‘zero interest’ APR to its most efficient use.