0 Apr Credit Cards And Their Advantages
People used to think that they had enough on their benefits with their credit cards
. They thought that the rewards they get and the low interest they have is already enough to last a lifetime. But times have changed and now cardholders are
wanting more. They are no longer happy receiving a toaster or a coffee pot. They want more. Like free vacations, free services and more.
However, there are instances when they get to have the chance of seeing promotions like 0% APR. Now, this is really something. But the question is, is it true? Is there a great probability that credit card companies can actually offer a 0% APR? Lets face it, credit card company's are in business to make money not lose it.
For most financial experts, they contend that it is, indeed, possible. In fact, credit card companies would definitely go for this kind of scheme just to get the consumers on their hook.
That sounds too good to be true, indeed. But the question is how come they can offer something so good just like that?
Normally, 0% annual percentage rate or APR lasts only for 6 months. The countdown starts from the day the credit card is claimed.
In most instances, 0% APR are attractive to people who would want to have a balance transfer. This is because they would want to consolidate all of their debts into one payment only. And because they have a huge pile of debt, they would rather go to a credit company that can offer them lower interest rates. But be careful. Since the 0% APR rate usually only last for six months make sure you check the rate that is charged after the six months.
With things like 0% APR credit card, who can resist them?
Moreover, with the 6-month timeframe, people will get to have the chance of paying their standing debts for a whole six month-period only. That would be a lot of savings.
But then again, 0% APR credit cards are not at all beneficial to everybody. As they say, there is always an exception to the rule. This refers to those who do not accumulate interest charges simply because they have outstanding balance. So, they wouldn't feel the necessity of getting a 0% APR credit card.
The best credit cards for these types of people are those that offer rewards and cash backs instead of lower rates.
All of these boil down to one point, that people must be aware on how these wonderful offers can provide them the benefit that they want. With all the credit card offer being offed now days a consumer should shop around for the best deal at meets their needs.
Indeed, there are lots of rewards and 0% APR credit cards out there. But if it will not work for those who do not really need them because of the mentioned situations, then it's best not to have them at all. Besides, the best 0% reward is not to have a credit card at all. And if you do have a 0% APR card don't over extend yourself. Buy only what you can afford.
by: Natalia Kobseva
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