This Interest-Free Credit Resource Can Actually Help You with Your Debt!
Using credit cards come with both perks and downsides. For example, signing up for the right one can give people the chance to consolidate old debts and finance other purchases. One specific type of card that can offer numerous advantages is a 0% APR credit card.
How 0% APR Credit Cards Work
In contrast with most credit cards, a 0% APR credit card won’t charge users interest for a certain amount of time usually around 12 months up to 21 months.
People can enjoy this perk by using these cards to consolidate their other credit card debts, which would then result in savings as it lowers one’s interest rate as well. Another great thing about it is that it allows people to make purchases without paying back more than their items cost.
It’s important to note though that not everybody can avail this kind of credit card. Those with excellent credit scores (670 to 740 and over) will have the best chance of getting approved. People with scores less than 669 may have difficulties qualifying. The average credit score currently stands at 682.
Making the Most
One can even get better deals using their 0% APR card when they take the time to understand the terms that come with it. Don’t forget to note the balance transfer fees and eventual interest rates attached to the card once the 0% interest period ends. Those using the card to consolidate credit card debt are also advised to come up with a repayment plan.
Lastly, consumers should remember all of their balances in full before their 0% APR intro period is over. Failing to do so will mean that one would have to pay off their purchases with regular purchase APR.
The Best Cards
There are plenty of choices available for people looking for a good 0% APR credit card. One of them is the Citi Simplicity® Card – No Late Fees Ever. It has the longest available APR period for balance transfers at 21 months.
It offers the same benefit for new purchases for up to 12 months. Another one worth considering is the Discover it® Balance Transfer. One advantage it has over the former is its cashback rewards program. It does charge for balance transfers though.
More in Business
-
`
How This Trendy Lifestyle Can Help Business Owners Create Better Workspaces
In a world seemingly ruled by consumption, an alternative lifestyle that promotes the total opposite has emerged. Today, minimalism is no longer just an...
June 6, 2023 -
`
How Busy Entrepreneurs Can Find a Healthy Balance Between Personal and Work Life
Entrepreneurs are known to wear multiple hats. Building a business from the ground up on their own, they need to be...
May 11, 2023 -
`
How to Improve Your Sleep Quality: Simple Tips for Better Sleep
Sleep is essential for our physical and mental health, yet many of us struggle to get a good night’s rest. Whether...
April 28, 2023 -
`
Find Out Which Family Guy Cast Members Has Earned The Most Throughout the Years
Movie stars may get all the glory but television has slowly but surely become a lucrative gig for many actors and...
April 7, 2023 -
`
How This 2nd Generation Immigrant Entrepreneur Landed a Business Deal with a Billionaire
Immigrants and their children often have to work harder than to prove themselves and achieve the same level of success that...
April 5, 2023 -
`
Entrepreneurs Can Create More Genuine Business Connections with This One Social Interaction Trick
Succeeding as an entrepreneur involves just as much about networking as much as behind the scenes work. Meeting and making connections...
April 1, 2023 -
`
This Man Made Billions from Coronavirus Crash But He Might Get in Trouble for It
A lot of investors are currently dealing with the aftermath of the coronavirus panic’s impact on the stock market. Both small...
March 17, 2023 -
`
Skip Your Next Trip to the Salon with These Genius At-Home Beauty Treatments
While being unable to leave one’s home for an extended period of time due to a pandemic isn’t ideal, one can...
February 18, 2023 -
`
Zac Efron Once Met Leonardo DiCaprio at a Basketball Game and You’ll Never Guess What Happened Next
Hollywood is truly a small world. Celebrities often end up being friends with their fellow stars, what with them moving in...
February 18, 2023
You must be logged in to post a comment Login