| 0% Intro APR credit card offers are very
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| | you can use them for whatever you want. A
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| popular for obvious reasons. Consumers
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| | lot of consumers use these blank checks
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| can save a lot in finances charges by
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| | as a method of obtaining an interest-free
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| taking advantage of 0% offers, but there
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| | loan, but they can also be used to open a
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| are a number of pitfalls that should be
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| | high-yield savings account or to purchase
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| avoided. All
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| | a certificate of deposit. Keep in mind
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| across the United States, consumers who
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| | that once the 0% introductory APR period
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| are smart with their finances are taking
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| | is over interest charges will begin to
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| advantage of zero percent credit card
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| | accrue so it is recommended that you pay
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| offers, and for good reason. By signing
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| | off the balance before, or as soon as,
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| up for a 0% intro APR credit card deal,
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| | the interest-free period ends. If you are
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| consumers with credit card debt and a
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| | not absolutely certain as to whether the
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| good credit score can literally pay no
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| | checks you receive are included in the 0%
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| interest on their lingering credit card
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| | introductory APR offer then take a few
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| debt for 12 months or more. Here are
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| | minutes and call the credit card company
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| some important things to remember when
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| | to ask. Whenever you call your credit
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| taking advantage of zero percent intro
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| | card company, be sure to jot down the
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| APR offers:
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| | name of the person you speak to in case
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| 1. Many credit card companies will offer
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| | the representative makes a mistake.
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| you an interest-free period as a way of
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| | 4. Don't get carried away with your
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| introducing you to their credit card. It
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| | credit card applications. Regardless of
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| is very important that you know and
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| | whether or not you are approved or
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| understand what the interest rate will be
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| | rejected, if you file too many credit
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| once that free period is over. If you are
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| | card applications within a short time
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| forced to pay a significantly higher
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| | period your credit rating could suffer a
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| interest rate after the free period you
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| | downgrade.
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| will likely wind up with a much worse
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| | 5. Many credit card companies own
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| deal than you had intended. If at all
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| | multiple credit card brands. Before
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| possible try to pay off your total credit
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| | submitting an application for a balance
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| card balance before the interest-free
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| | transfer, be sure that you are dealing
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| period comes to an end. Try to find a
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| | with a credit card company that is
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| balance transfer deal that gives you at
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| | different from the one you want to
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| least 6 months 0% introductory APR so
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| | transfer a balance from. If you try to
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| that you don't wind up making balance
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| | transfer a balance from one account to
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| transfers too often.
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| | another, and one bank controls both
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| 2. Be sure that you read through all the
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| | credit card brands, then your application
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| fine print very carefully. A lot of the
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| | will almost certainly be rejected.
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| 0% balance transfer credit card offers
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| | Remember that inquiries into your credit
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| include a catch: if you use the new card
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| | report may have a negative effect on your
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| to make a purchase while you are in the
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| | credit rating; this is especially true if
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| interest-free period, the APR or Annual
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| | the inquiry results in an application
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| Percentage Rate can often be quite high,
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| | being rejected. If you already have two
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| even as high as 25%! Additionally,
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| | different credit cards that have been
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| payments that you make on your new credit
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| | issued by the same bank or credit card
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| card with a low or zero percent intro APR
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| | company, you can usually consolidate the
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| will be applied to the transferred
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| | balances into one credit card account. If
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| balance first, which often means you'll
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| | you have questions about this call your
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| get hammered with high interest charges
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| | credit card company to discuss
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| for purchases and cash advances. A
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| | consolidating your credit cards.
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| balance transfer can be a really good way
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| | 6. It is very important that the account
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| to help you save money over the long
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| | to which you'll be transferring your
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| term, but if you need to make new
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| | balance has a high enough credit limit so
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| purchases you will be much better served
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| | as to avoid getting into trouble with
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| by using cash, a pre-paid credit card, or
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| | fees. Some credit cards charge a fee for
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| your bank debit card.
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| | transferring balances, and if your new
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| 3. Try to avoid using the convenience
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| | account's credit limit isn't high enough,
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| checks. Many credit cards will include
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| | you may get hit with an over-the-limit
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| convenience checks along with your
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| | fee after e.g. the balance transfer
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| regular credit card statements. A
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| | transaction fee is added in. When
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| convenience checks is usually equivalent
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| | shopping for a zero APR offer, try to
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| to a cash advance, and cash advances
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| | find one that doesn't charge a fee for
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| almost always carry the highest interest
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| | transferring balances. If you go with an
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| rate. Sometimes a credit card will give
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| | offer that does charge a balance transfer
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| you a good interest rate if you use their
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| | fee, then do your best to find out what
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| convenience checks for making balance
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| | your new account's credit limit will be.
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| transfers. Just be sure that you read the
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| | 7. Always pay all of your bills on time.
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| fine print thoroughly so that you fully
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| | This may sound obvious, but it is very
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| understand the terms before using their
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| | important. Credit card companies will
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| convenience checks. There is good news
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| | offer the best terms to applicants with
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| about convenience checks. Some credit
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| | the best credit rating scores. Having a
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| card companies will provide you with
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| | high credit score will also minimize the
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| blank checks that are covered under their
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| | chances of having your application for a
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| 0% intro APR balance transfer offer.
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| | credit card rejected.
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| These blank checks can be very useful as
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