Zero APR Credit Cards
Zero APR credit cards generally give
consumers an introductory period in which there is no
interest for purchases or balance transfers. The length
of this preliminary stage varies from card to card.
Some offer only 30 days, while others go for several
months, or even an entire year. Many people rush into
getting credit cards with zero percent APR without fully
researching the product.
Buyer Beware: Some cards will make
a drastic switch after the initial no-interest phase.
High percentages of interest can quickly eliminate any
savings the consumer might have seen in the beginning.
Also, there are credit card companies that offer zero
percent APR for an extended period of time, but require
a member to pay high annual fees, so in the end, the
payments are equal to those for a card with a much higher
Finding the Best Deals on Zero APR
There are cards that offer members the
best of all worlds. They have lengthy periods of zero
percent APR, they do not charge annual fees, and their
standard interest rates are relatively low. A person
who pays zero percent APR for six months and then only
has to pay 8.5 percent APR will actually spend much
less on interest than most credit card holders.
Credit Card Competition Means Benefits
With so many credit cards available today,
companies have been forced to offer more benefits in
order to secure business. Cards such as the AT&T
Cash Rewards Card offer zero percent APR for a year,
while allowing members to save money on everyday phone
use. Other zero percent APR cards give people the chance
to earn rebates or receive discounts on the purchase
of new and used cars.