0% Credit Card Offers
In today's fast paced world, there are an overwhelming number of credit card
choices available to consumers. Being such a competitive market, most card
companies offer enticing incentives to build membership, ranging from frequent
flyer miles to cash back promotions and everything in between. One such lure
used by these companies is offering cards with a 0% interest rate. While these
cards do provide consumers with many advantages, there are also some safeguards
to consider. In this article we will look at these offers, determine the type
of consumer they are geared towards, and also look at the benefits and
drawbacks of such cards.
What's in it for them?
There is no question that the credit card is king among most American
consumers. In fact, over 90% of us carry at least one credit card, with the
average American cardholder owning eight cards. With such staggering numbers,
it makes sense for credit card companies to charge some type of annual rate,
and most do. So, when examining credit cards with a 0% interest rate, the
question must be raised: What do these companies have to gain by extending such
an offer? In effect, what these cards provide the companies with is a clientele
with exceptional credit, as they only make 0% cards available to credit savvy
consumers. In turn, the companies know that they will receive prompt payments,
and will rarely have to worry about a cardholder failing to pay. These offers
can also be successful for companies who offer the interest rate for a 12 month
period, as they are able to gain business while reserving the right to charge
interest in the future.
What's in it for you?
Having solid credit affords you many benefits and can also help you realize
goals more quickly than if you had a poor credit score. Whether you are
financing a car, buying a home, or making any other substantial purchase, good
credit is the cornerstone to being lent money. 0% credit cards are offered to
those consumers who make payments on time, and serve as a reward for making
sound credit decisions. These offers also help further improve your credit, as
responsibility with this type of card will lead to bigger spending limits and
accessibility to other types of credit. With that being said, there are also
pitfalls to avoid. When accepting a 0% credit card offer, make sure to read the
fine print to determine a few important variables. First, make sure to find out
how long the 0% rate is good for. Many times it will be for the life of the
contract, but often times it will only apply for a 12 or 24 month period. Also,
make yourself aware of any other fees the card may charge. The 0% APR loses a
lot of appeal if it is accompanied by several annual charges.
Know Your Limits
As you can see, 0% credit card offers can provide credit smart consumers several
benefits with very few drawbacks. Attaining solid credit takes hard work and
discipline, and these cards are designed to benefit consumers who have
displayed these practices. By staying within your own limits, you can use such
an offer to further boost your credit score and advance towards your personal
financial goal, whatever that may be.
0% Credit Card Offers
For an average American, who has a credit card debt of at least $6,000, nothing
seems more appealing to him or her than a credit card with 0% APR. Banks and
credit card companies know this. There are numerous credit cards with 0% APR in
today’s market. Details on three of these deals are below.
Discover Platinum
Discover gives you variable zero APR on balance transfer and purchase for up to
10 months. Because this is a variable APR, Discover can terminate it anytime if
you miss payments. There is no annual fee and you are not liable for
unauthorized charges. You will earn one percent in cash back for all purchases
anywhere. Unique card designs, including Clear Blue, are available. Discover
will include Discover 2GO card for free upon request. Discover 2GO is
attachable to your key chain. The best thing about this card is that Discover
will pay you $10 for opening an account with them.
Citi Diamond Preferred Rewards
The 0% introductory interest rate is good for 12 months, but applies balance
transfer only. This APR is fixed. It comes with zero fraud liability and no
annual fee. Earn reward points when you eat out, shop or travel with Citi
Bank’s network merchants. Plus, you will receive a $50 gift card after the
first transaction.
Household GM
Enjoy five percent in allowance toward the purchase of lease of a new car from
Chevrolet, Pontiac, Buick, Cadillac, GM and Hummer, by using this MasterCard.
Hummer H1 is excluded from this offer. No annual fee will be charged. The fixed
zero APR is good for both purchase and balance transfer during six months
following the date of account opening. Transaction fee is waived for the
balance transfers requested at the time of credit application. Choose from card
designs with pictures of your favorite cars.