It is important to ensure that the balance transfers are done on time, without overlapping offer periods from one card to other, which could cost you high interest rates. Please note that each bank will move at different speeds in responding to customer requests. Ensure that the credit card offers with zero balance transfer are always immediate and are applicable at the time of your application. There is no point in applying for a transfer when the offer period is about to end. While opting for a balance transfer that is free of interest, watch out for any charges hidden in small print. An offer of 0 APR (Zero Annual Percentage Rate) should exactly mean what it conveys.
The next step in the growing financial squeeze—what the banking community likes to call the "soft landing"—is coming down in credit cards. Take a look at those offers you're getting in the mail. Gone are the promises of permanent low APRs on purchases or balance transfers. Instead, the companies are offering a low rate for 6 or maybe 12 months, and then it shoots up to 15 or 20 percent or higher. And there's usually a 5 percent transfer fee on your whole balance—the ceilings on transfer fees are disappearing. So even if you get, say, a 4.9 percent APR for 12 months, it's really 9.9 percent.
A major part of considering any credit card is the interest rate. Interest rates are really high on credit cards, which is what you pay for the convenience of using someone else's money. Most of us find the interest annoying, but not enough to deter us from using our credit cards. So, what if you came upon a 0% interest credit card, would you think that it was too good to be true? Think again! These credit cards really do exist! In fact, there is likely one of these credit cards out there right now that you can take advantage of. What 0% Interest Credit Cards are All About So, you received a credit card offer for one that has 0% interest and you are wondering if it is the real deal.
