Credit Cards And Loans - So Many Options - So Little Time Credit Cards and Loans sounds like just two things, but in actuality, it is dozens of things. Due to a combination of user preferences, lifestyles, and marketing ideas, there are dozens of different types of credit cards out there. Because of the wide ... Top Ten Tips Pitfalls of Credit Cards Dodging through the Hazards and Ensuring YOU Have the Right Deal A credit card can be amongst the most important tools you'll ever have at your disposal. By offering you easy, flexible and sometimes relatively cheap spending power it can be used to ... Useful Tips When Choosing Credit Cards Chances are you have received your share of "pre-approved" credit card offers in the mail, some with low introductory rates and other perks. Many of these solicitations urge you to accept "before the offer expires." Before you accept, shop around to get ...
0% APR Credit Cards: Use Them To Your Advantage!
Soon after the new millennium started, interest rates began to drop to historically low levels. By 2002, loan rates for government funds dipped to just less than one percent, pushing consumer loan rates down with it as well. Credit card providers, seeing a terrific opportunity unfolding, immediately began to offer 0% APR credit cards to new card holders and even extended the offer to their current customers.
Today, interest rates have been climbing for two years, but 0% APR credit card offers are still available to you. Quite frankly, the entire lending business is very competitive and credit card providers are willing to forego interest for up to twelve months in order to get your business.
To maximize the effectiveness of 0% APR credit cards, there are a few things that you must know:
Limited Time Offer. 0% APR credit cards contain an introductory period lasting typically from six to twelve months. This means that anything you charge during that time will not accumulate interest. Go ahead and spread out your payments over several months: If you purchase something for $1000, you can make four equal payments of $250 interest free. Keep earning interest on your savings and let the credit card company fund your purchase!
Transfer Balances and Save Big! Many 0% APR credit card offers will allow you to transfer balances from your existing credit cards to your new card and waive transfer fees. If you owe $3000 on your current credit cards and are paying 19% interest on your balances, you could save nearly $600 in interest payments over twelve month's time!
Pay On Time. Do not be lulled into thinking that a 0% APR credit card doesn't require monthly payments. If you miss a payment or are late, you could find that your remaining balance is subject to interest charges and penalties as your card shifts to a default rate. Pay on time or kiss your 0% APR credit card rate goodbye!
Pay It All Off. In some cases, you must pay off your balance before the introductory rate period expires. If you don't, the default rate kicks in. Make certain that you clearly understand your card's terms.
Clearly, a 0% APR credit card has strong advantages for the person seeking to make new purchases as well as someone who wants to transfer their balances. Use a 0% APR credit card to your advantage and put some money back in your pocket!
Credit card fees rising Chicago Sun-Times, United States - 11 hours ago While average credit card rates have dipped as the Federal Reserve has cut interest rates, banks and retailers are trying to offset rising losses in their ...
CreditCards.com: Weekly Credit Card Rate Report MarketWatch - Nov 20, 2008 AUSTIN, Texas, Nov 20, 2008 (BUSINESS WIRE) -- Annual percentage rates for new credit card offers rose this week, according to the CreditCards.com Weekly ...
Comment by Marshal Cohen