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O apr credit cards
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O APR Credit Cards
Financial Dept. American Association of Credit Card Holders
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O APR credit cards are the best option
for those struggling with a huge load of
credit card debt. Many companies
today offer 0% credit cards which
means you do not pay any interest for
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money you spend on credit cards for
new purchases.
0 APR Credit Card Offers
Certain cards also help lower the
0 APR Credit Cards
burden of interest for card holders by
allowing balance transfer.
0 Balance Transfer Credit
Cards Benefits of O APR credit cards
0 Interest Credit Cards Many prominent card companies
including offer 0 APR credit cards that
0 Interest Credit Cards UK can be of immense benefit especially
for those with an excellent credit
0 Percent Credit Cards rating.
0 Purchase Credit Cards
However, it is important to note that the 0% rate of interest is not offered on a permanent
basis. Usually, this is an introductory rate offered for a period of three to twelve months at
Low APR Credit Card
the end of which you will have to pay the existing interest rate. Interest rates generally vary
between 10 and 14 percent. Certain cards even charge interest rates as high as 24%.
Low Balance Transfer
Credit Card You can opt for the 0 APR credit cards if you want to purchase an expensive item but cannot
find other ways to finance it. You can then plan and pay off the amount within the initial
Low Interest Credit Card buffer period. If however, for any reason, you are unable to complete your payment within
the initial offer period, then you may be stuck with a huge interest rate.
Low Rate Credit Card
0% interest credit cards transfer balance from your other high interest credit cards and do
»
not even charge any transfer fee. You can opt for this to make it easier to pay off debts and
save immensely on the interest charges.
A word of caution
While the 0 APR credit cards are highly
tempting and difficult to resist, it is
important to be well informed about
the hidden traps in these lucrative
offers.
Credit cards that offer 0% interest are
limited time offers where the time
frame ranges between three to twelve
months. Whatever you purchase
through the card within this time period
is interest free. If you do not monitor
the expiry period and pay off your
debts before the time runs out, you
may incur really hefty interest charges.
Certain 0 APR credit cards, after the introductory offer period, charge ridiculously high rates
of interest, sometimes even higher than 20%.
During the introductory offer period, it is important to pay the minimum amount due every
month to avoid penalties.
It is in your interest to understand the terms well before reaching out for the 0 APR credit
cards. For instance, certain companies may require you to pay your entire balance before the
expiration period. Otherwise you may have to pay default huge rates of interest on your
entire balance.
Beware of other high fees such as balance transfer fee and annual fees that credit card
companies may charge to offset the 0 APR credit cards they offer.
Lookout for a cap on balance transfer certain cards may have in place. This will mean that
you can enjoy 0% APR only for an amount within the cap limit and anything exceeding the
limit will be charged a very high APR by default.
Before you consider reaching out for 0 APR credit cards, weigh the pros and cons depending
on your situation and read all terms and conditions with care to ensure you do not get into a
credit trap.
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