Interest Free Credit Cards - Your Helping Hand

Everywhere you turn there seems to be some kind of advertisement for interest free credit cards

. However, a lot of people approach these offers with caution with so many banks making rate changes recently.

People do have a good reason to be skeptical with these types of things. Credit cards can be one of the best financial tools you can have in your arsenal but they can also be one of the most stressful things you've ever dealt with at the exact same time.

Thousands of people have totally given up credit cards in an attempt to rid themselves of debt so the companies that offer than are now offering wonderful incentives to get people to sign up again. The offers are not scams, but restrictions do apply with acceptance. If you think you can handle all the restrictions then accepting one can be a good thing. For ideas as to how these no interest deals can help, keep reading.

Having no interest on a credit card is the closest thing you can get to a free loan other than getting the real thing. The interest free period is usually only for a set amount of time of course, but if you borrow from the card and pay it back within that time frame you are essentially getting an interest free loan from the crediting bank.

If you are already in trouble with the credit card companies you feel like everyone else who is, like your drowning. No interest can allow you to get yourself a head and on track if you know what to do with it.

During the time frame that you have your interest free promotion you should use it to make needed purchases. The extra money you have can then be payed to the credit card companies that have high interest rates in order to get your debt paid down. Basically you are replacing the card with which you spend and using the money you have to pay off the balances you already owe. Once the accounts are paid off you can either get rid of the cards or use them sparingly so you don't get yourself in trouble again.

If you don't have a need for a credit card to use on a regular basis they can also be a great form of emergency funding to keep on hand just in case. For traveling or just as a back up to the cards you use now, knowing you have access to extra cash when you need it most is a great security to have. The unexpected always happens and it is much easier to overcome those situations when you have a means to get the money to help you out.

There can really be some good outcomes from having a credit card, especially one with no interest rate. Even though it can be scary to take on another card at first, using it responsibly can be a blessing and your security from small emergencies turning in to really big ones.

by: Judith Maberly

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