Consumers are smart enough to take advantage of credit cards with zero percent offers. With some time given as interest free you can improve your debt condition. Customers with good credit scores but credit card debt do not pay interest on credit card debt for 12 months or more when they opt for a credit card deal called zero percent introductory annual percentage rate or 0% intro APR . There are few important points to be kept in mind when you opt for such 0% intro APR offers so that you may not land into even worst condition than the existing one.
Credit card companies in order to attract new customers offer introductory interest free periods for the new card customers. It is very important to know as well as understand what will be the interest rates that the card company will charge after the interest free period ends. If the interest rates are high then you will have much worst deal than you might have intended.
Check out for the period of 0% introductory APR offer. It should be at least 6 months so that you don't need to transfer your balance too often. Care is to be taken at the time of application so that every single word in fine print is to be read with proper understanding. There are many companies with 0% into APR credit card that have a catch in their terms and conditions. They may allow 0% APR balance transfer but if you make a purchase using that credit card the interest rates charged are too high at times up to 25%. A balance transfer will save you money in long run but making new purchases on this card will prove to be very expensive.
Many credit companies offer convenience checks along with 0% intro APR credit cards. But make sure that this convenience check facility is included in 0% intro APR offer otherwise you will end paying high rate of interest. To make best use of 0% intro APR offer make sure to pay back the balance amount before the interest-free period comes to an end. For any doubt that arises in your mind make sure to call the concerned credit company to have clarification. Also don't forget to ask for the name of the representative of the company to whom you have talked and keep a record of time with date along with name of representative.
The number of applications for credit card applications will affect your credit rating. If you make too many applications in a short time irrespective of whether your applications are approved or rejected your credit rating will come down. As you make an application each time the credit company will ask for your credit history, too many inquiries about your credit history have a negative impact on your credit rating.
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