Saturday 5 May 2012

5 Advantages Of Owning A Credit Card With 0 APR

By Chris Scarborough


When you get the offer in the mail for a 0 APR credit card, you may be tempted to throw it out, thinking that it is too good to be true. But before throwing it out, you may want to take a good look at it first. There are some distinct advantages to owning one of these 0 percent interest cards that could help you in ways you don't know yet.

Transfer high interest credit card balances. If you can't pay off a credit card that you use, you can transfer the balance to your new 0 APR card. If you've stopped using your 20% interest card because you can't afford the monthly payment, then this is a great option for you. Not only can you pay off your other balance, you'll also get back your purchasing power.

Into one card, try to consolidate all credit card debt. If you have several credit cards that are all maxed out, then the best thing for you to do is consolidate them all into one 0 APR in order to quickly pay down the debt. Rather than your monthly payment only going to the interest, the principle for the whole 0 APR introductory period can be paid off.

Transferring high interest loan rate balances is also a great option. If your car loan has a high interest rate, then you can pay it off without interest. After paying if off at the bank using your 0 APR credit card, you can make your interest free payments to the card so that this balance will be paid off.

Another option is making big ticket purchases with no interest financing. Do you want to buy an appliance or some furniture? Want to buy some plane tickets to Europe? In order to have a 0% interest rate when you finance the purchase of these items, you can use your 0 APR credit card.

Try improving your credit. You can improve your credit score and also improve your chances for credit offers by paying your bills on time every month as well as the balances from other loans or cards.




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