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