People differ in many aspects. When it comes to managing and spending money, they have different attitudes as well. Some are big spenders while the others are more frugal.
Frugal people tend to be more careful in the way they spend their money. This attitude can stem from a number of factors and so there's really no one to blame. Some of these people may have experienced financial difficulties in the past that taught them an important lesson. For the others, it may be their own decision to be wise in managing their finances in order to stay away from debt.
When it comes to credit cards, people who belong to the frugal segment are more likely to prefer those that offer real incentives. They would choose the best credit card offers that can save them money or give them rewards.
It is not surprising then if they would also prefer the zero percent credit cards. If you have not heard about this yet and are still asking, the truth of the matter is it for real. However, there's more that you need to know about it.
Zero percent cards refer to those that offer no interest. Yes, it's interest-free if you want it that way. But the deal is it's only for a limited period and not for the whole duration of your credit card membership.
This type of credit offer often applies as an introductory offer. Only people who have opened a new account can avail of this zero percent interest incentive. This can apply not only to new account but also to credit credit card balance transfer.
What companies normally do is to offer this incentive as a way to attract more customers. Naturally, people facing debt and those who practice frugality in their finances would definitely prefer to avail of this offer if only to save them on interest costs.
The free-interest introductory offer is fixed but for a limited time. The grace period for this is usually six months up to one year after which the standard interest rate applies. If you're lucky and resourceful enough, you may find companies that offer a zero interest for longer periods up to 13 and even 15 months.
For first time applicants, a credit card balance transfer is indeed a good offer that should not be missed. Other people who can benefit from this incentive are those who are carrying huge balances on their card on a monthly basis. Consumers facing debt would surely find the grace period helpful as they don't need to pay interest while they're still paying for what they owe within the duration of the free-interest period.