0 credit cards | 0 Credit Cards: How To Find 0% APR Credit Cards

0 Credit Cards: How To Find 0% APR Credit Cards

Finding 0 credits cards in the current credit market can be like searching for a “needle in a haystack.”

These no or low interest credit cards offers are not easily found unless the consumer has excellent credit. The most common method of obtaining a low or no interest credit card is to find a deal of a balance transfers.  Most of the time, these cards don’t have an annual fee, although balance transfer fees of 3% to 4% may exist.  In the tighter credit climate, the balance transfer period is now shorter (an average of six months or less).  Even with the tighter requirements and shorter balance transfer periods, finding a low interest credit card is a key personal finance strategy particularly if the consumer is currently carrying a balance.

Qualifying For A 0 APR Credit Card

Obtaining any VISA credit card in the current credit market is not a simple task.

To obtain a 0 interest credit card today, there are tighter qualifications and guidelines that applicants must meet before being able to qualify.  Issuers offering the best credit cards are going “the extra mile” to make sure the applicant is not a credit risk.

Even with the adoption of FICO 08, issuers still closely review past payment history, credit score and number (and seriousness) of any delinquent accounts. If you have a good credit score and no seriously delinquent accounts, your chances of getting a 0 APR balance transfer credit card are reasonably good, even now.

Applying For A 0 APR Credit Card

To obtain a low interest credit card, it is best to start by filling out a credit card application through your own local bank or a qualified credit lender.  After all, the consumer already should have a positive banking relationship with this lender which should help in the credit card application process.  Ask for their low interest credit card offers. Most banks carry these and you will be sent an application either through mail or on the phone (depending on your bank).

Some consumers elect to go through online referral sites to apply for a VISA credit card, which is only okay.  But, the consumer would be wise to evaluate whether or not they have a history of good service.  If they try to charge you a membership fee or other fee to apply, look elsewhere.  A consumer should not be subject to any such fee, even if he or she has less than stellar credit.

0 Credit Card Offers:  Enjoy The Rewards Of Good Credit

If the consumer enjoys good credit, he or she should reap the rewards associated with a low interest credit card.  Owners of these types of credit cards enjoy rewards points that can be redeemed for hotels, airline tickets and, sometimes, cash.  While the bonuses vary from lender to lender, they are extremely helpful when needing to make future purchases. One caution is that bonuses that can only be spent at certain shopping stores or online marketplaces.

What About Those With An Average Credit Score?

In the credit market of today, lenders offering 0 balance transfer credit cards require excellent credit.

In some cases, the issuer might be a little lenient and qualify the consumer that has “good” credit instead. That is one of the benefits that consumers enjoy as a result of the recent FICO 08 changes.  Remember, the average APR is 14.9% on credit cards, which is almost twice as much as the low interest rate of 7% found on most low interest cards.

So, if a consumer has the credit score `1to qualify and the balance to justify paying the balance transfer fees, 0 credit cards are still a smart financial move.  In the end, any time a consumer can borrow money at a low interest rate, he stands a better chance of paying off the balance without any problems or late payments.

  • Share/Bookmark

Related posts:

  1. Interest Free Credit Cards Offers – How To Find The Best And Avoid The Rest In these tough economic times, it is imperative that you...

Related posts brought to you by Yet Another Related Posts Plugin.

Filed Under 0 APR Credit Cards, 0 credit cards, Balance Transfers | Leave a Comment

Tagged With , , , , , , , , ,

Comments

Leave a Reply




Installed by SimpleScripts