Zero interest credit cards do in fact exist. Often, credit card issuers offer zero interest credit card introductory offers for new cardholders. However, these terms are not permanent. Credit card introductory periods last for varying lengths of time, but all credit card issuers will definitely charge interest at some point, because that is how they make their money.
Use the credit card chaser to help you wade through the multitude of credit cards available and help you find the ideal zero interest credit card offer!
The zero interest credit card introductory offer is a great perk in a new credit card. However, not all offers are created equal. Take the time to compare and contrast:
- The length of time the period lasts
- The types of transactions that are eligible for zero interest
- What percentage of interest you will pay after the introductory period ends
- The rewards programs offered for each card
Who should seek out zero interest credit cards?
Actually, anyone looking for a credit card can benefit from a zero interest credit card. Especially if you are planning to make a large purchase and are confident that you will be able to pay it off completely within the zero interest period, such an offer may be a very good deal.
If you have existing credit card debt, a great way to get it under control and get rid of it is to get a new zero interest credit card. In fact, you should seek out a card with the best possible terms for credit card balance transfers. Then, transfer all your balances to the new card in order to save yourself from the interest charges you are accumulating every month. Then diligently work at paying off the card before the introductory period lapses.
Some individuals may not be eligible for zero interest credit cards, or such cards may not meet their needs. If you are a student with no credit, or someone with damaged credit looking to rebuild their credit rating, you may not be able to qualify for zero interest cards. Those looking for business credit cards may discover that there is little or nothing available at zero interest also. Certain rewards cards will also not offer the best introductory offers.
What things should I look for besides the zero interest introductory offer?
If you are in the market for a new credit card, knowing what to look for will increase your satisfaction with the card you finally decide on. Luckily, there are a multitude of resources out there to help teach you about credit cards, such as MyMoney.gov and Smart Money. While not everyone will give the same advice, there are certain things you should look for in a credit card. A good credit card will:
- Have a reasonable annual fee or, even better, no annual fee.
- Be accepted almost anywhere.
- Have a generously long introductory offer.
- Have a reasonable APR after the introductory period.
- Not have excessive fees.
It is important to do your homework and carefully compare as many credit card offers as possible when you are in the market for a new credit card. You should create a set of guidelines that you expect in your future credit card and consider only those cards that meet all the guidelines. By taking a calculated approach to finding your next credit card, you are sure to be pleased with the one that ends up in your wallet.
Does the credit card issuer matter?
While for the most part, credit card issuers are very similar, some distinct differences matter to the consumer. According to studies compiled by J.D. Power and Associates, the credit cards that rank best in terms of customer satisfaction for 2011 are the Discover card and the American Express card. The areas in which these cards excelled were:
- Benefits and services
- Rewards factors
- Credit card terms
Amongst the lowest in terms of customer service satisfaction were HSBC, Bank of America, and Citi cards. Capital One, U.S. Bank and Wells Fargo were slightly better. Barclaycard and Chase were the only two besides Discover and American Express that were actually better than the industry average. If customer service is your priority, such rankings are very useful in your selection process.
Get started now. Let the credit card chaser find you the best zero interest credit card offers available on the market today.
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