The Benefits Of A No Interest Credit Card?

Answer 1

For some people out there, you might not believe that something like a no interest credit card could possibly exist. Why in the world would a credit card company put out a no interest card? This must be a mistake, right? The truth is that you can get a no interest credit card, at least for a short period of time. There are many different ways to take advantage of a no interest offer from a legitimate credit card provider. You would be wise to consider these options and make good use of them if you want to get the most out of the plastic.

What's the deal with no interest credit cards?

There has to be some kind of a catch with these cards, right? There is no catch, but the cards aren't exactly unlimited in nature. No interest credit cards are generally only available through an introductory offer. No credit card company could stay in business if they offered cards at no interest, so they only do so for a short period of time. Many times, you will be able to find a credit card with a 0% APR for a period of a few months. Some card providers will utilize this rate for up to a year in an effort to get people to sign on. After that, the card will revert to its typical APR

No interest on balance transfers

Another way to take advantage of a no interest credit card is through a balance transfer offer. Some creditors provide balance transfers for no fee for a period of six months or even longer. This is a really nice deal for those individuals who have other balances. If you are sitting with a pile of high interest debt, then you should definitely consider a no interest credit card that offers balance transfers. You can transfer your balances and pay off the high interest debt, taking your time to pay off the new balance. Many creditors offer this kind of deal, so a smart consumer should look at the different options and make the most responsible choice.

Who can get no interest credit cards?

In order to take full advantage of a no interest credit card, you have to first qualify for one. You might suspect that it's difficult to get one of these cards. You would be correct, as only those with good credit are able to land the best credit card offers. In today's world where credit getting tighter and fewer people have access to a good credit card, it takes a nice credit history to land an elite card. Keep this in mind as you consider your financial options and your various credit card possibilities.