The era of 0% APR
credit cards is still with us. Yes, you can obtain a
spanking new credit card featuring a very low
introductory interest rate and take advantage of what
amounts to "free money" for you for up to
one year. You can use your new card to your advantage,
but you must be careful that you fully understand how
a 0% APR credit card works to order to maximize its
effectiveness. I will show you how, so please keep
reading for all the informative details!
Soon after the new
millennium started, interest rates began to drop to
historically low levels. By 2002, loan rates for
government funds dipped to just less than one percent,
pushing consumer loan rates down with it as well.
Credit card providers, seeing a terrific opportunity
unfolding, immediately began to offer 0% APR credit
cards to new card holders and even extended the offer
to their current customers.
Today, interest rates
have been climbing for two years, but 0% APR credit
card offers are still available to you. Quite frankly,
the entire lending business is very competitive and
credit card providers are willing to forego interest
for up to twelve months in order to get your business.
To maximize the
effectiveness of 0% APR credit cards, there are a few
things that you must know:
Limited Time Offer. 0%
APR credit cards contain an introductory period
lasting typically from six to twelve months. This
means that anything you charge during that time will
not accumulate interest. Go ahead and spread out your
payments over several months: If you purchase
something for $1000, you can make four equal payments
of $250 interest free. Keep earning interest on your
savings and let the credit card company fund your
purchase!
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