How to Find Interest Free Credit Cards
How to Find Interest Free Credit Cards
The interest free credit card is a very useful tool in increasing your credit rating, transferring balances, getting interest free loans and as emergency money as well. However, interest free creditcards are not easy to find. Because it is ultimately beneficial to most of us, some people tend to abuse its use. This is why it is not readily offered to everyone.
Zero interest cards are only zero interest during the introductory period, or the first few months that you will be using the card. Banks offer zero interest cards to entice customers from othercredit card companies to switch to their company. Typically, for a person to be eligible for zero interest cards, he or she must have at least one card for more than a year. People who are justgetting cards for the first time will typically be not allowed to get zero interest cards.
How can you find zero interest cards? There are actually two ways: one is by asking credit companies, and the other is by searching online.
Your current card company may also have this offer at hand. But usually they offer this to people who are not their customers to convince these people to switch to their service. If you would thenask your current credit card company, chances are you would get a zero interest card that has a short no interest period.
Look for other card companies that offer interest free credit cards. There are a lot of companies that offer such; it wouldn't be hard to find them because chances are they are advertising it in boldsigns. Once you have found them, carefully read through the benefits, especially the zero interest period. However, do not be fooled by companies that say that the interest free period is "up to" 12months or more. This actually means that the length in zero interest period is under their discretion. You may get as little as a few weeks of zero interest period.
You can also search for no interest credit cards online. Many credit companies have established their businesses online, making it easier and faster for people to apply. You would also have tocompare their offerings. Don't just check the zero interest period, you should also know about their other clauses. For instance, they may have rules that mention for which events that the zerointerest period is allowable. Sometimes, this zero interest clause allows only purchases and not balance transfers, or sometimes the other way around.
Furthermore, you should figure out if there are any transaction fees involved in transferring your balances from other credit cards. If there is none, how much would the penalty be if you don't payoff this transfer before the zero interest period expires? In simple terms, how much would the interest be after the interest free time? Finally, if the interest free period is almost over and youhave found a new interest free credit card, would you be allowed to transfer the remaining balance? If so, is there any fee? Knowing this much will prevent you from being shocked at fees you neverknew existed, and will also allow you to find the right interest free credit cards for yourself.
The interest free credit card is a very useful tool in increasing your credit rating, transferring balances, getting interest free loans and as emergency money as well. However, interest free creditcards are not easy to find. Because it is ultimately beneficial to most of us, some people tend to abuse its use. This is why it is not readily offered to everyone.
Zero interest cards are only zero interest during the introductory period, or the first few months that you will be using the card. Banks offer zero interest cards to entice customers from othercredit card companies to switch to their company. Typically, for a person to be eligible for zero interest cards, he or she must have at least one card for more than a year. People who are justgetting cards for the first time will typically be not allowed to get zero interest cards.
How can you find zero interest cards? There are actually two ways: one is by asking credit companies, and the other is by searching online.
Your current card company may also have this offer at hand. But usually they offer this to people who are not their customers to convince these people to switch to their service. If you would thenask your current credit card company, chances are you would get a zero interest card that has a short no interest period.
Look for other card companies that offer interest free credit cards. There are a lot of companies that offer such; it wouldn't be hard to find them because chances are they are advertising it in boldsigns. Once you have found them, carefully read through the benefits, especially the zero interest period. However, do not be fooled by companies that say that the interest free period is "up to" 12months or more. This actually means that the length in zero interest period is under their discretion. You may get as little as a few weeks of zero interest period.
You can also search for no interest credit cards online. Many credit companies have established their businesses online, making it easier and faster for people to apply. You would also have tocompare their offerings. Don't just check the zero interest period, you should also know about their other clauses. For instance, they may have rules that mention for which events that the zerointerest period is allowable. Sometimes, this zero interest clause allows only purchases and not balance transfers, or sometimes the other way around.
Furthermore, you should figure out if there are any transaction fees involved in transferring your balances from other credit cards. If there is none, how much would the penalty be if you don't payoff this transfer before the zero interest period expires? In simple terms, how much would the interest be after the interest free time? Finally, if the interest free period is almost over and youhave found a new interest free credit card, would you be allowed to transfer the remaining balance? If so, is there any fee? Knowing this much will prevent you from being shocked at fees you neverknew existed, and will also allow you to find the right interest free credit cards for yourself.
