When scouring through the many different credit card programs, low APR or 0 percent credit cards may look appealing, but there’s always more to take into consideration. You may find a better choice from the number of rewards, airline, cash back, platinum and no annual fee credit card offers. Knowing your options is important for any decision you to make. 0 percent credit cards have many great advantages but they may not always be the best choice for you.
What Do You Need?
Ask yourself how you plan on using your credit card and that will determine which card you actually choose. 0 percent credit cards are very appealing to many consumers right now, given the current economy. Instead of completely paying off their bill each month, a greater number of consumers may find themselves struggling with credit card debt. Using low APR or 0 percent credit cards can help lower your monthly interest charges.
0 percent credit cards would not mean much to you if you intend to pay your credit card balance at the end of each month. You might find yourself more attracted to a rewards offer or a cash back credit card with no annual fee and a longer grace period. It’s important to pick the right card with the right benefits that will fit all of your needs.
Points To Consider When Choosing A Credit Card
Will you transfer a balance?
Most 0 percent offers are only for an introductory term of 6 to 18 months; some offer a little higher rate for a longer period of time. You may find that a longer introductory period is the best option when you are transferring a large balance from one card to another.
Where do you do most of your spending?
A good number of rewards cards offer extra points for spending in certain categories. Get a rewards card that gives you cash back, bonus points or travel miles at the locations where you spend the most. For the majority of consumers cash back credit cards are going to be the best option to go with.
How’s the customer support?
Trained customer service representatives will be able to tell you how much you’ll save with a particular balance transfer offer, notify you of potential unauthorized charges or help with a dispute. Good customer support coupled with online resources can save you both money and time. Making a same-day payment without added charges, being notified of special promotions and reward offers or changing a due date so that it better fits with your schedule all give additional worth to your credit card.
Also, don’t forget about additional perks such as travel assistance, car rental insurance and automatic travel insurance. Always remember to read the small print to see the exact terms of low APR or 0 percent credit cards. The agreement will will give you information about the grace period(the time you have pay off your balance before you pay additional finance charges), and what rates, fees and restrictions that are involved. The more information you know the more value you will gain from 0 percent credit cards or any credit card offer.