0% Interest Credit Cards

Depending on the circumstances a 0% interest credit card is a great choice, but it can also be very dangerous. The 0% is always an introductory rate, which can last from 3 to 12 months, and rarely longer. After this the interest rates soar and are not always fixed. Which can be bad if there is a balance left on the card.

The interest charged on those purchases will be much more than had a different credit card been chosen, one with a fixed percentage rate. Some math may be required if you have some large purchases already in mind. Keep in mind that most credit cards have APRs (Annual Percent Rates) somewhere between 7 and 13 percent.

With all this being said, if the card is being used for purchases and the balance is completely paid before the introductory 0% rate has ended, it is a wonderful way to appropriate your money. And if that is the right choice for you, there are many different types of 0% interest rate cards to look into. Most require excellent credit and a mid-high income. This is another problem, the people most in need of credit are often the ones that do not have it available to them; this a double-edged sword because it is hard for credit card companies to distinguish someone who will and will not pay their bills when the

Most require excellent credit and a mid-high income. This is another problem, the people most in need of credit are often the ones that do not have it available to them; this a double-edged sword because it is hard for credit card companies to distinguish someone who will and will not pay their bills when the

This is another problem, the people most in need of credit are often the ones that do not have it available to them; this a double-edged sword because it is hard for credit card companies to distinguish someone who will and will not pay their bills when the reside in the same working-class level of society, just from what they look like on paper alone.

So while it might be simple to find and apply for 0% interest credit cards, it might prove quite difficult actually get one. And if you do, it is a dangerous tool. If you go overboard, as many do with credit, you will have quite the kick in the wallet when the interest rates shoot to past 15 or even 20 percent.

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