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 APR.
Finding the Best Deals on Zero APR Credit 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.