The best source for lists of credit cards of any type is the Internet! While magazines, such as Consumer Reports, still print monthly issues devoted to consumer related topics such as credit cards, all currently allow readers to subscribe and connect to reviews and other articles online.
When shopping for credit cards, informed consumers use a website like the credit card chaser, to find the best interest free credit cards!
The best part is that now much of this content is free for the asking. Internet editions of well-known magazines are supported by advertisers, just as print editions always have been. It’s a win/win situation for consumers who want to be knowledgeable and are searching for information.
What are these card finder websites?
These commercial sites specialize in comparing and ranking credit cards. What would take the average consumer hours to investigate, a website like this will accomplish in seconds.
Pages of different cards are displayed side-by-side so the reader can compare the features of each card. Site editors, experts in the credit card industry, comment on and rate each card as well. Once a selection is made, the consumer can apply for any card, immediately, online!
Where else can I find lists of credit cards?
Several times each year, Consumer Reports publishes helpful and informative articles on credit cards. The December 2011 issue, discusses new credit card deals, featuring low or zero percent interest rates and bonus rewards.
Earlier Consumer Reports editions in 2011 featured articles on the best rewards credit cards, and listed the best and worst credit cards of the year, according to customer surveys.
Money Magazine, now a division of CNN, has published numerous articles this past year listing and ranking different types of credit cards:
- The Best for Balance Transfers
- The Best for Holiday Shopping
- The Cheapest and Best Cards in General (2010)
Forbes Magazine has long been recognized as a leader in financial news reporting. Recent published articles include:
- 2010’s Tips for Picking the Best Credit Cards
- Why Switch to a Credit Union Credit Card (2010)
- The Worst Credit Card Deals in America (2008)
What kinds of interest free credit cards are available?
Zero percent interest rate cards come in two varieties. The first is the more traditional, zero APR introductory type offer. In order to entice consumers to come on board, these card issuers offer a very low or even zero percent interest rate for the first six to 18 months.
Offers like these, are mostly used as incentives to get consumers to transfer debt from one credit card to another. While these cards are interest free for a period, eventually the bank will begin charging interest at a standard variable rate, generally between 10 and 20%.
The other, truly interest free credit cards are new prepaid credit cards. These cards feature a Visa, MasterCard, American Express or Discover logo and are accepted worldwide. Consumers use their own funds to set up a prepaid account.
Cardholders may load prepaid cards with any amount of money they choose and completely avoid paying interest to the card issuer. Prepaid cards don’t require users to borrow funds or extend their credit!
Not all prepaid cards are totally free however. Some card issuers charge up-front fees for their cards. There can also be monthly maintenance and other service charges associated with prepaid cards.
Are prepaid cards very popular?
Yes, and they are becoming more popular every day. Prepaid cards are win/win for both consumers and the banks that issue them. Consumers win because prepaid cards have all the advantages of a credit card, convenience, and accountability at a very low cost.
Aren’t banks required to pay interest on deposits?
No, in this case, banks aren’t required to pay interest on prepaid card deposits, but some do. The good news is that since your monies are on deposit in a federally regulated bank, the FDIC or Federal Deposit Insurance Corporation insures your deposits against loss should the bank close or become insolvent.
What are some other uses for prepaid cards?
Prepaid credit cards have been around in one form or another for many years. The digital age has also revolutionized the credit card industry by providing instant identification and communication around the world.
The current prepaid card trend began in the 1990s with the advent of gift cards and other premium cards based on the prepayment of a set gift amount, and any fees if applicable. Over the last few years, gift cards have all but replaced cash!
To find the best interest free credit card deals, use credit card chaser, and comparison-shop instantly on your computer!
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