0 Percent Credit Cards-Are 0 Percent Credit Cards Really Any Good?
Jul 16, 2009 Credit Card Rewards
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When exploring credit card programs, there’s a lot more to consider than low or 0 percent credit cards. In actuality, you might find it better to select from the large number of rewards credit cards, airline credit cards, cash back credit cards, platinum cards and no annual fee credit cards. Knowing all of your options is important when making any decision. 0 percent credit cards have their uses, but are they always the best choice?
What Do You Need?
The card you choose really just depends on how you intend to use your credit card. 0 percent credit cards are very important to consumers right now, given the economic times. More consumers may find themselves carrying a credit card balance, rather than paying off their bill in full each month. A low APR or 0 percent credit cards can help minimize finance charges.
0 percent credit cards would not mean much to you if you intend to pay your credit card balance at the end of each month. You might find yourself more attracted to a rewards offer or a cash back credit card with no annual fee and a longer grace period. It’s important to pick the right card with the right benefits that will fit all of your needs.
What To Consider When Shopping For A Credit Card
Do you need to transfer a balance?
Most 0 percent offers are for an introductory period of 6 to 18 months; some offer a little higher rate in exchange for a longer introductory period. You may find that a longer introductory period is the best option when you are transferring a large balance that will take longer to pay off.
Where do you do most of your spending?
Many of the rewards cards offer bonus points for spending at certain locations. So you would want to get a rewards card that gives you bonus points, cash back or travel miles at the places where you spend the most. Cash back credit cards are the great option for a large number of consumers.
Customer support?
Qualified customer service reps can tell you how much you’ll save with a balance transfer offer, help with a dispute, and notify you of potential unauthorized charges. Customer support and online resources save you both time and money. Changing a due date to one that fits better with your schedule, making a same-day payment with no additional charges, or being notified of special promotions and reward offers add even more worth to your credit card.
Additional Benefits
Also, don’t forget about additional perks such as travel assistance, car rental insurance and automatic travel insurance. Always remember to read the small print to see the exact terms of low APR or 0 percent credit cards. The agreement will will give you information about the grace period(the time you have pay off your balance before you pay additional finance charges), and what rates, fees and restrictions that are involved. The more information you know the more value you will gain from 0 percent credit cards or any credit card offer.
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