0 Credit Cards Intro Rates Are Available
0 Credit Cards APR Intro Rates are not that hard to find as the majority of credit card issuers now carry them. OTM or other people’s money is what credit cards offer but in this case you get to borrow other people’s money without having to pay interest fees on top of it. These introductory annual percentage rates are offered with an approval of the credit card. You can have up to a year’s time at this introductory rate so it would be wise to take advantage of it. One word of caution though. If you blindly take advantage of this offer your spending could easily spiral out of control if you do not stay disciplined.
The amount of credit extended to you on the credit card could hit its limit if you have no idea of how much you are spending everyday
The worst thing you could do is to hit your spending limit on the card only to find out that your introductory APR has expired. You are stuck with a card that has a high balance on it and at the regular APR? Being in this situation is what credit card issuers prefer because you will be making larger payments of interest to them? Do you see what is possible? Be extra careful with how you use your credit card? The 0% intro rate can be pretty tempting to everyone which can easily spiral out of control.
If you already have credit card debt and have been approved for this card, one key use many people may overlook with the 0% intro rate is that it can help you pay down debt. With the credit card that you already carry a balance on stop placing any new charges on it and move those normal, everyday charges to the new card. Start putting more funds towards paying down the older card that has a balance to reduce your interest payments. Each month you will be reducing your debt and by the time the intro APR is up you will have paid down a lot of your debt. Other than just having 0 credit cards APR rate you may want to compare the additional features the cards may offer. They may also end up being rewards cards aside from the fact that they give you a dynamite intro APR. Things such as points to trade for gift certificates, free gas, travel rewards, etc. The terms and conditions of the credit card will tell you what additional benefits there are available for card holders.
The way credit card companies approve you for a particular credit card is by looking at your credit history
By ordering your own credit report you can view all the details that credit card companies view when assessing your qualifications for a particular credit card. If you are serious about qualifying for a specific credit card you should run your credit yourself. If you find any errors in the report you can have them removed by disputing them. If the errors are disputed and found to be inaccurate they will be taken off the report and your credit score will increase.
When The Credit Card Issuer Approves You For a Card
One of the most exciting times of using a credit card is getting approved for the one that you really want? Upon approval the credit card issuer will have your new credit card shipped out the next business day. Track your everyday expenses to have a good idea of how much you have spent each month. Knowing how much in charges you are putting on your card each month is key to keeping control of your credit card debt.
Have A Balance On Your Card? Pay It Down Before The Intro Rate Expires
Looking at your introductory rate period you can also split that time period in half and begin setting a monthly amount to pay down the entire balance before the intro rate expires.
Take advantage of your zero percent credit cards Intro Rate if your credit card offers it. It can really improve your situation financially if you are in debt and make larger purchases a lot easier when you need it.