0 per cent interest credit cards are usually available to those with good or excellent credit, according to one credit card reviewer. And if your credit is good then you should be able to easily get your hands on one of them. In a financial habit review, some zero interest credit cards have been singled out for their good deals. Citi bank is given a mention for its Citi Platinum Select card with an introductory 0 per cent rate for the first twelve months. The card doesn't offer any cashback but it does offer account protection with 0 liability on unauthorised purchases. The Capital One no hassle miles reward card comes standard with 0 per cent APR on purchases until December of 2010. The author says the credit card deals are out there and advises to shop around to get hold of the best one for you.
bestcomputersprices.blogspot.com Review names top 0 interest credit cards
Credit cards are very common nowadays. In fact, some surveys show that 81% of the American households have at least one credit card.
However, most financial experts contend that these facts are not on its positive aspect. This is because most of the people who belong on this percentage have more than $ 8,000 credit card debt.
In reality, that is really a big amount. But one might wonder on how these people were able to accumulate such big debts.
Experts say the trend of credit cards today is very addicting. There are those who assert that it is the consumer's lifestyle that must be blamed. While others say, the problems are based on the interest rates.
According to the consumer credit website, the average interest rate of one credit card is nearly 18.9%. It is pretty obvious that the amount is not at all fair. Getting to pay some debts with almost 20% of additional charges brought about by the interest rates would really lead the consumers to b igger debts.
Interest rates are usually charged by the credit card company once the user had accumulated some balances on his or her due payments. The problem is that most people tend to pay their minimum balance only. In fact, 48% of the credit card users were known to pay their minimum balances only.
What happens next is that the remaining balance is carried off to the next monthly billing statement, which, in turn, would only aggravate the situation. Pile after pile, the debt becomes bigger, but certainly not brighter for the user's financial future.
This is where low interest credit cards take its fair share in the limelight. With the alarming condition in the credit card industry, more and more people are trying to look for the best credit cards with low interest rates.
In reality, it is not so hard to find low interest credit cards. The problem is that not all credit card companies that offer low interest rates are created equal. This goes to sh ow that there are some companies that only use this very motivating factor so as to amass more consumers.
Hence, there are many instances wherein people are attracted to get credit cards because of the so-called low interest rates, only to find out that the interest rates are just one of those fraudulent promotions known as "teaser rates."
With these low interest credit cards, they would usually offer some tempting deals to the public. The credit card companies would be more than willing to provide lower interest rates like low introductory APR or annual percentage rate.
However, most experts contend that lower interest credit cards only motivate people to make more purchases. They have this common notion that it is just okay to make many purchases because the interest rates are just small.
So for those who fall many times to this kind of situation, it is best that they analyze their standing first. Never grab a low interest credit card instantly beca use what goes with the promotion may not be long lasting.
And so, here is a list of some tips that can be used in analyzing and interpreting some facts about low interest rates in credit cards.
1. The promotion is very limited
In reality, low interest credit cards are especially built to make shopping easier, more fun, and extremely economical. That is why according to some surveys, most of the advantages of low interest credit cards are absolutely dependent on the duration of the promo.
For instance, a particular credit card may have low interest rates because of its low introductory annual percentage rates. The problem sinks in if the person failed to understand that this promo is only limited within the introductory period.
Therefore, after the introductory period, regular charges will usually apply.
2. It is extremely important to read the fine print
Having low interest credit cards is not exactly a bad thing. What makes the situ ation worse is through the effects of not reading the fine print.
In reality, almost 75% of the consumers who are heavily buried in debt were not able to understand the things written on their cards fine print. In fact, they confessed that they did not even read it.
So the bottom line here is that people should not focus more on having low interest credit cards. If their primary reason is to save more money, then, it is best not to get a credit card at all.
Besides, interest rates are only applicable to those who have overdue payments or who have carried over the balance of the previous bill.
Therefore, whether the credit card's low interest rates are for real or not, it really does not matter for those who do not carry a balance on the next bill or those who pay their dues on time.
Find More Low Interest Credit Cards: Are They For Real? ArticlesQuestion by Gary: Do you get charged accumulated interest on 0% interest credit cards? Ex: If you have a 0% interest card for 12 months, and you charged $ 5000 to it. After the 12 month period, you have $ 100 left on the balance, can the credit card companies charge you for all the lost interest during that 12 month period? My parents are bent on the idea that you are screwed if you leave any balance on the card after the period, even if it's $ 1 Best answer for Do you get charged accumulated interest on 0% interest credit cards?:
Answer by Brendan
Normally the interest would only start accruing on the outstanding balance at the end of the free term. But check the terms and conditions of the particular card to be sure
Answer by another nickname
Your parents are wrong. After the deadline you will accrue interest only on any balance you still have. As the other poster said though, there "may" be some unscrupulous card offers out there that include the clause your parents fear - the only thing you can do is call the issuer and ask them, point blank. If they say ANYTHING but "no," then hang up and forget them. PRIVATE financing, on the other hand, like furniture stores, etc., actually FRONT-LOAD the interest. By that I mean, they quote you a price for the furniture that has all of that deferred interest included. If you ask for that price first, then later ask for the price if you're going to "pay for it all right now instead," you'll discover that the "discount" they offer you for that deal totals almost exactly what the "zero" interest would've cost at their usual rate, which is about 21.9%
Answer by debijs
~~It depends on the agreement. If you buy something on a credit card and it is 0 interest for 6 months, if it is not paid by the 6th month due date, then yes you will be charged accrued interest for the entire purchase (these are store cards like Best Buy, etc). If it is a regular credit card, then no, it would just accumulate the interest on the unpaid balance on the amount remaining after the grace period.~~
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