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
Tom Brady Is Packing His Bags and Moving to a Different House, But It Looks Awfully Familiar
It looks like the world of professional sports is just as small as Hollywood. News has it that NFL star Tom...April 18, 2020
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...April 18, 2020
Influencers Who Didn’t Let Chronic Illnesses from Getting in the Way of Success
Online influencers often get a bad rap because of the public’s perception of their perception. Not all of them deserve this...April 18, 2020
Billie Eilish Is Just Starting Her Career But Has Already Broken These Records
It’s hard to believe that Billie Eilish is just 18 years old looking at all the things she’s already achieved. After...April 18, 2020
Ariel Winter Claps Back Against People with Harsh Opinions About Her Transformation
Celebrities live a charmed life. It’s not always sunshine and rainbows for them though. Living in the public eye, stars often...April 18, 2020
Pink Tested Positive for COVID-19, Here’s How Her Family is Coping with the Illness
Testing positive for COVID-19 can send anyone in a panic. After all, the respiratory illness, brought by the fast-spreading novel coronavirus,...April 18, 2020
What is Warren Buffett’s Next Move After Losing Billion Amidst Coronavirus Panic?
Warren Buffett is among the most admired and trusted investors in the world. Thus, it’s not surprising that many are watching...April 18, 2020
5 Things You Need to Do Right Now If You’re Dealing with Job Insecurity
Times like these could easily make one stress out more about the status and stability of their current job. After all,...April 17, 2020
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 17, 2020