0 Percent Credit Cards-Are 0 Percent Credit Cards Really Any Good?
When searching through different credit card programs, there’s always more to consider than a low APR or 0 percent credit cards. You might find it better to choose from the extensive number of rewards credit cards, airline credit cards, cash back credit cards, platinum cards and no annual fee credit cards. No matter what you end up choosing it’s always good to know your options. 0 percent credit cards have their advantages but they are not the best choice for everyone.
Are Your Needs Met?
How you intend to use your credit card will determine what card you actually choose. Given the tough economic times, 0 percent credit cards are very appealing to consumers right now. Rather than fully paying off their bill each month, more and more consumers may find themselves struggling with credit card debt. A low or 0 percent credit card can help minimize finance charges.
If you plan to pay your credit card balance in full each month, 0 percent credit cards may not be as appealing. You may be more attracted to a rewards or cash back credit card with no annual fee and a longer grace period. It’s important to find the benefits that best fit your needs.
Points To Remember When Picking A Credit Card
Do you need to transfer a balance?
Most 0 percent offers are only for an introductory term of 6 to 18 months; some offer a little higher rate for a longer period of time. You may find that a longer introductory period is the best option when you are transferring a large balance from one card to another.
Where do you do most of your spending?
Many of the rewards cards offer bonus points for spending at certain locations. So you would want to get a rewards card that gives you bonus points, cash back or travel miles at the places where you spend the most. Cash back credit cards are the great option for a large number of consumers.
How good is the customer support?
Trained customer service representatives will be able to tell you how much you’ll save with a particular balance transfer offer, notify you of potential unauthorized charges or help with a dispute. Good customer support coupled with online resources can save you both money and time. Making a same-day payment without added charges, being notified of special promotions and reward offers or changing a due date so that it better fits with your schedule all give additional worth to your credit card.
The Details
Also, don’t forget other valuable perks such as automatic travel insurance, travel assistance and car rental insurance. No matter what type of credit card you’re attracted to, check out the small print to see the exact terms of low or 0 percent credit cards. The credit card agreement will tell you the grace period (how long you have to pay off your balance before you pay a finance charge), and what rates, fees and restrictions are involved. When it comes to 0 percent credit cards or any credit card offer, the more you know the more value you’ll get.
