Because credit cards are now becoming more and
more popular and competition among credit card institutions are
getting stiff, credit card issuers are now finding ways to attract
more potential clients to apply for their cards. In fact,
some credit card issuers even send emails and traditional postal
letters to prospective clients in order to reach out to people and
tell them about their credit card offers.
This is a marketing strategy which is aimed to attract
more potential credit card users. Today, one kind of promotional
offer that is popular is the 0% APR credit card
offer. Although this may seem too good to be true, 0% credit
card offers really exists. However, before you rush off
and apply for this kind of credit card, you need to first understand
the offer in order to make sure that you are getting
the right kind of credit card.
An APR (annual percentage rate) is what credit card issuers use
to compute the total percentage that will be charged in addition to your purchases,
cash advances and other fees. In this case, a 0% APR is definitely
a very attractive offer. However, you have to face the fact that
many times this kind of offer is only a promotional offer for a specific set of time or a marketing
strategy and doesn’t last forever. Besides, you have to
consider that a credit card company will also want to make money
for their services and the APR is one of the their money making
The 0% APR credit card offers that you usually see are just marketing
tools that credit card companies use to attract potential
credit card holders. If you are offered a 0% APR credit card,
you will instantly be attracted by it because of the benefits
it offers you. Here are some of the things to keep in mind in
order to find the best deals.
Since the 0% APR is only an introductory offer and doesn’t
last forever, it is important that you should determine how
long it will last. Ask the credit card issuer how long
the introductory 0% APR will last. Usually a 0%
APR will only last between the first three months up to one full year.
It is also important to know the APR rate once the introductory period expires. You don’t want to
find out later that the credit card will have a high
APR after the 0% introductory period expires. It is best to learn
how much the APR will be after the introductory offer expires in order
to avoid surprises in your bills once the introductory offer has expired.
Knowing about the different features and benefits is also helpful.
Determine if the credit card allows balance transfers from high
interest rate credit cards during the 0% APR promotional period. If
it does, you can use it to pay off your outstanding balances
with higher rate cards by using the new lower interest rates cards.
There are some of the things you should know about 0% APR credit
cards. Although this offer definitely exists, it is only offered
for a limited period of time. By finding out about the APR after
the promotional offer expires and also by knowing about how long
it will last, you can be sure that you will be able to find the
best credit card offers.
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