How you wish that you could enjoy 0% APR for years to come! The primary benefit of a 0% APR credit card is the introductory 0% APR interest rate. You need to choose the best card for yourself so that you can reap its benefits always. Don’t know what you should do to have that constant low APR? Read on to know.
- Many consumers are misled because they don’t care to read the small print. Read each and every point carefully to ascertain what offers you are getting. In particular, read the clauses that differentiates between purchases and cash transfers.
- Stick to the agreed credit limit as it is written in the agreement. Never exceed this balance limit or you might incur extra charges.
- Make sure that you are always paying the minimum charge in full. It is best to set up a direct debit with your bank and make the payment electronically from your account each month.
- You can be charged late fees if you do not pay on time. Therefore, always pay on time. If you are habitually late in making your payments, is can add up and eventually pose problems for you.
- Are there any extras in the agreement? Read everything properly in the fine print. Some companies make an annual charge to offset the 0% APR. If you are paying this annual charge, you are practically not getting a 0 APR card.
- Issue a new low interest 0 APR credit card to which you can transfer the balance of your present credit card. It’s not necessary that you enjoy the benefits of 0 APR credit for 6 months or 12 months only. You can avail these benefits for years to come. Join an internet forum that deals with these matters to keep yourself updated.
- Transfer the balance of your existing credit card to your new credit card in full and on time. Allow for time to process the balance transfer and the paperwork involved. Make sure that the opening balance allowed on your new 0 APR credit card is the same or exceeds the balance that you are transferring from your existing credit card.