The best APR 0 credit cards may be hard to determine unless you do a little research and the purpose of this article is to give you some tips on how to find them and compare them here. 0% APR is a great rate and seems as if it could reduce your credit card debt quickly. It can if you have a financial plan and an understanding of what fees may apply.
Things You Will Need
A desire to find the best 0 credit cards also known as 0 interest rate credit cards.
These 0 APR credit cards will enable you to go months while paying no finance
How you use your credit card determines just how much money APR 0 credit cards will save for you. Compare the terms and how balances are applied; there will be more on that in a moment.
Most APR 0 credit cards are time limited since the 0% APR is an introductory offer. Some have 6 months, and others 12 months before it transitions to a higher rate. Therefore, the standard APR they offer you after the introductory period will have a bearing on how much money you save.
Compare rates and how you plan to use this APR 0 credit card, if you plan to use it to transfer a balance in from a much higher interest rate credit card you will want to investigate balance transfer fees. They can affect how much money you actually save from an APR 0 credit cards.
What does the APR 0 credit card cover, in other words some credit cards have an APR 0 rate that applies only to balance transfers and purchases can be charged at another rate. If you plan on only transferring a balance in and making no new purchases, it is fine. Otherwise, compare the purchase interest rates as usually payments are applied to the lowest interest balance first and to the higher interest balance second. This can affect if you save and how much you save with an APR 0 credit cards.â¨
It is not enough to transfer in higher interest rate cards to an APR 0 credit cards if you do not have a financial plan to reduce your debt and you do not plan on how you will use this card. Fees that might be triggered by being over limit or even new credit card purchases that have another rate affect how much money you save on any APR 0 credit cards, always compare to get the best deal.
Tips & Warnings
Applications for any new line of credit including 0% APR credit cards affect your credit rating overall. If you are planning a major purchase soon, compare the savings and be sure your credit will not be negatively impacted by a new credit card application.â¨