Tuesday, 25 November 2008
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How To Pick The Right Zero Interest Credit Card
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 credit 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.
Choose a card with reasonable costs. Aside from the zero interest, don’t forget to check all the other costs associated with your card. For example, does it carry an annual fee? Most reward credit cards with zero interest have higher annual fees.
Annual fees can range from $50 to as much as $80 or even more. If you’ll need to pay $80 each year just to keep your card active, would it still be worth the deal? Would the cost of annual fee offset the savings you get from the free interest?
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