If you’re planning to get a credit card, perhaps you’re also considering to pick one with a zero interest’ offer. But before you submit that application, consider the following factors that should help you pick the right card:

Choose a card that suits your purpose. What would you do with your new zero interest card? Credit cards that have 0% APR on balance transfers are great for paying off balances from high rate cards. This way, you can focus on paying only the original amount of debt you owe minus the additional interest.
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There’s no doubt that zero or low interest credit cards are enjoying huge popularity in the market. And why not! The chance to use your credit card and pay your bills with no interest charge is certainly an enticing offer.

Have you received an offer in your mail for a zero APR credit card? If yes, you may be thinking about signing up with that card. But before you do, consider the following pointers.

How long will the zero interest last?

Yes, the zero interest offer may be for real but how long will it last? Obviously, the 0% APR is not a permanent deal. Some credit cards offer 3 to 6 months introductory period while other cards may offer as long as 12 months to more than a year. Thus, it’s important to understand exactly how long you can enjoy the 0% APR on your card and how much the rate would be after that.

The rate of interest beyond the introductory period.

How much would the regular interest rate be after the introductory period? Signing up for a zero interest credit card without carefully examining the details is a risky move. It’s easy to get approved but in the end, you could be stuck with a card that has an even higher rate than your current credit cards.

Where does the zero interest apply?

Most credit cards impose more than just one APR. This means, the zero interest offer may only be applicable to one of your credit card charges. For instance, the zero interest may only apply to balance transfers but not on your purchases.

Zero interest balance transfer cards are good if you want to move over existing balances from your other credit cards. Nevertheless, you should be careful about using that card for new purchases, as the high interest for purchases could get you into trouble.

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Also, take note that the interest rate for cash advances is always different from that of the rate for balance transfers or purchases. Often, the rate for cash advances is much higher. This is why you should avoid using your zero interest card for taking out cash from the ATM. Remember that cash advance transactions are not covered by the introductory period so you will be charged with the extra interest immediately after taking your cash.

What about the rest of the fees?

When choosing a zero interest credit card, one should take time comparing all his options. Don’t forget to check the rest of the fees, aside from the interest.

[Article:  Low Interest Credit Cards- Are They For Real?]

For instance, does the card carry an annual fee? If yes, how much would it be? Annual fees can range from $30 to $100 depending on the type of credit card. If you’ll need to pay $80 each year, just to keep your card active, would it be worth it?
Other credit card costs that you should check on are the late penalty fees, over-the-limit costs, balance transfer fees, and other transaction charges.

About the Author

Melanie Mathis is a credit analyst and a writer for 8 years. She has been participating in the programs of NHBS, Inc such as their continuous effort in giving out Free Credit Repair and Building Ebook. NHBS also has a list of recommended bad credit credit cards.
Copyright 2008.

Let’s face it, although 0% interest credit cards give you a chance to pay your balances minus the interest rate, that offer isn’t permanent. After the teaser rate period ends, you’ll be back to regular interest rates and credit card fees. So don’t judge a credit card based on the initial offer alone. Instead, see what it has in store for you beyond the tempting zero interest or low interest offer. Here are the credit card fees you should pay close attention to:

Annual Fee. The annual fee is what you are required to pay every year to activate your card. Some credit cards require a low $15 annual fee to a high of $100 per year. Usually, credit cards with reward programs impose higher annual fees to make up for the incentives they give. The best low interest credit card you can get is one that has no annual fee so you won’t have to worry about a yearly payment at all. If you have a credit card with a high annual fee don’t despair. If you call your credit card company and ask them to remove the fee, many of them will. If they won’t, I’ve found that acting like I will transfer my balances elsewhere often motivates them to remove the charge. This only works if you are a good payer and tends to work only once.
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Different credit cards have their own list of advantages and disadvantages that differ from each other. This is the reason why everyone must take his time in deciding which credit card to apply for in order to fully enjoy its benefits.

Many people who have numerous credit cards often find themselves caught in confusion regarding their credit bills and due dates. Those who are unable to sustain regular payment of their balances soon realize that they already swamped with credit.
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