Sunday, July 15, 2012

Qualifying For A Zero Interest Credit Card Offer

Zero-interest credit cards are not just a marketing tactic. Making your purchases using zero-interest credit cards means you can probably save hundreds or even thousands of dollars. They have the capability of changing your financial life.

For example, imagine that you have a 00 balance on your credit card with an annual interest rate of 12%. That means you pay every month in interest to the credit card company. Using a zero-interest credit card means you can save that money every month. That's a huge amount of savings you can make!

Qualifying for a zero-interest credit card is sometimes not easy, however. Qualification requires that you have good credit. If you do have good credit, you are at an advantage and have the opportunity of choosing one of the zero-interest credit card offers out there. If you don't, you can probably avail an offer with low interest, depending on how good your credit is.

Unfortunately, finding a zero-interest credit card offer nowadays is not as easy as it was a couple of years ago. Since the recession, we have seen a major drop in the number of zero-interest credit card offers, making them pretty hard to find. However, using the power of the internet, you can find a good offer right from home if you put some time into your research.

One other important thing to note is that the zero-interest offer is always an introductory one, usually lasting for six to twelve months. Not a single bank or financial institution on the planet gives you credit cards at 0% interest for the life of the card.

You can find a good zero-interest credit card offer. It's just that it's not as easy as it once was, and it takes extensive amounts of research to find one. But it's also very much possible that you can find an offer where no interest is charged for more than a year.

So how do you find a good zero-interest credit card offer? One option would be to use your favorite search engine and see what results it returns. Just search for "zero-interest credit card offers" and you can probably find a great offer with a bit of research.

There are also many websites for specifically this purpose. An example is CreditCards.com. These sites have a lot of useful information to help you select a great credit card offer. You can do your research there and can also discuss with other people on public forums on which offers are available and which are best.

You can also contact your credit card company to see if they will offer you a zero-interest credit card or at least lower the interest on your existing credit card. If you have good credit, they will only be too happy to oblige because they don't want to lose you to one of their competitors.

Note that the definition of "zero-interest" may vary between companies. Some may charge you no interest only on the credit balance that was transferred to them during the introductory period. Others may charge you no interest on the purchases you make during the introductory period. And to some companies, it may mean both of these or something else entirely. That's why it is always prudent to read the contract thoroughly, before you sign up for something you didn't really want.

Ultimately, zero-interest credit cards are a really nice way to save money and allows you to take advantage of deals you come across. You can pretty much avail an interest-free loan on everything you buy, which is nothing short of awesome!

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