0 Apr Credit Card Is It Really Zero For Trouble

0 Apr Credit Card Is It Really Zero For Trouble?

In the financial industry, the number zero can be something thats either totally goodor totally bad. As for 0 APR credit cards, companies are primarily cashing in peoples interest for 0% interest (pun intended). But is everything good and nothing bad about 0 APR credit cards?

The Advantages of Using a 0 APR Credit Card

Balance Transfer You can make use of your new 0 APR credit card as a way of reducing payment for your other credit card debts. You can do this by transferring the balance of your old credit cards to the new one. Of course, make sure that you do get to pay off your debt within the allotted time!

Saving on Purchases Of course, the most obvious benefit in having a 0 APR credit card is being able to purchase anything for zero interest. You can even opt to pay the minimum amount required for several months if you wish, just as long as you do settle your credit card bills before the promotional period ends.

The Disadvantages of Using a 0 APR Credit Card If youre not careful with the way you swipe your 0 APR credit card, your latest plastic money might just be your downfall.

Zero isnt Forever No-interest-offers dont last forever; when the promotional period ends, your card will just be like any other credit card in which youll be required to pay standard interest rates once more. It could even be worse if your 0% ends up with an interest rate thats twice as much as what youre paying for your other credit cards.

No to Balance Transfer You might belatedly realize that your intention of balance transfer is actually not allowed. Or, it could charge you with very high processing Credit cards Information before you can be allowed to transfer the balance of your old credit card to your new one. To prevent this from happening, you should read the terms and conditions carefully before applying for a 0 interest credit card.

High interest free credit cards Many 0 APR cards charge you high penalties if youre a delinquent payer. Worse, they can even cancel the zero interest offer at the slightest infraction you commit.

Uncontrollable Swiping Many individuals, upon getting their hands on their new 0 APR credit cards, are struck with swiping fever and end up shopping more than they need and certainly more than they can afford.

Tips for Choosing and Using a 0 APR Credit Card No credit card is perfect. You need not feel bad just because you now know the limitations and problems you might face when using a 0 APR credit card. With the right attitude, youll still be able to take full advantage of a 0 APR credit card without having to suffer any of its disadvantages.

READ the terms and conditions carefully. Know what its interest rate would be when the promotional period ends. Know if youre allowed to make balance transfers and what repercussions youd face if you unintentionally fail in paying on time.

CHOOSE the 0 APR credit card that best fits your needs and budget.

DISCIPLINE is the key to beating the temptation of overspending. If you really want to indulge yourself with your new pre paid credit cards card, at least make purchases that are necessary, useful, and will last for a long time.

Hope you enjoy yourself with your new credit card! [l]