In this article we discuss about 0 rate APR cards and how they work. Check out this if you are searching for a credit card application 0 APR to help you make a more informed decision.
Before anything else, let me first stress out the mere fact about 0% APR. As a matter of fact, there is no such thing as 0% Annual Percentage Rate (APR) credit card. Rather, there is a card that is going to give 0% for a balance transfer.
What is actually the difference between a regular APR-based credit card and balance transfer? Well, in a balance transfer, you will have to find out that you are going to get an introductory rate. With this offered introductory rate, you are going to avail a 0% rate for a certain period of time. This period of time may vary from six months to twelve months. There will be differences when you apply in other banks.
For the APR that is present in your credit card, this is the interest rate that you are going to pay when you are not going to pay your balance in full. Like for example, if your APR is 15% and you have a current balance of $500. You have paid the half of it and you have a remaining balance of $250. The APR will now be applied to that remaining balance for a year and it will be distributed throughout the months. As a matter of fact, technically speaking, you are not actually paying 15% a month.
Where Can I Apply For A 0% APR Credit Card?
You can actually find this in any credit card which you have applied for. In fact, you can halve that offer to the credit card that you currently have at the moment but you may soon find out that this may not work. You can just try to call and ask. But the worst thing that you will probably hear is ‘no’.
What are the best cards who offer 0 APR Rates?
Actually, there are many credit card companies that have great promotional offers. There is actually a wide selection of cards so I would choose the ones that will suit you best. Never choose a card just because of the balance transfer, but for cards that will give you great rewards as well.
The list below lists some of the best cards when if you prefer to have a card with good balance transfer rate:
- Discover
- Citibank
- Chase Bank
The credit card companies that are going to offer you 0% are the ones that offer points and rewards. It is going to be actually rare to find 0% rate on bad cards as well as other prepaid/bad related cards. These credit cards are usually geared to those with high risks so you will not have any luck on that. While you can not get a 0% rate on loans, you can always have it on a balance! So just shop around to find the best credit card application 0 APR to suit your needs.