Credit Cards And Interest Rates Go Hand In Hand

Category: Finance, Credit.

Credit cards and interest rates go hand in hand.

It is surprising to know that a 0% credit card interest rate exists. With 19% APRs wrecking bankrolls like clockwork. However, there are 0% interest rate credit card offers out there, and the reality of it all is that people may enjoy that privilege without switching to another credit card provider. In exchange for that annual fee, an interest rate structure is solidified in place that is applied to the outstanding balance the card accrues over a thirty day period. Lots of credit cards don t have any annual fee assigned to them. In case payments are not made on time, the credit card company will impose a higher interest rate starting on the next month s bill. In order to be offered a 0% credit card interest rate, you must pay off your credit card on time, every time.

Credit card companies pray for people to miss a monthly payment for two in order to cash in on interest on the outstanding balance. With no outstanding balance to impose interest on, a 0% credit card interest rate is very possible. For instance, a new account that introduces a 0% credit card interest rate for the first six months may require you to make timely payments every billing cycle. Yes, there are many advertisements out there touting credit card plans with 0% interest rates that are extended for a while after your account is opened. With this in place, balances can be transferred from other cards onto a new account. A 0% interest rate can reduce debt and help increase your credit score to your credit card provider s dismay. The only provision is that card users must pay off the balance within this six month period.

If a 0% percent interest rate offer is out there for the taking, make sure you carefully read all terms and conditions. By carefully reading the fine print, you will be best equipped into knowing if that latest 0% credit card interest rate offer is right for you. Learn how long the 0% credit card interest rate lasts and figure out what you need to do to keep that 0% interest rate kicking for the longest time.

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