"Life consists not in holding good cards but in playing those you hold well."Josh Billings
|
| |
Credit basics: Choosing and using credit cards
One of the most powerful financial tools that the modern technology has ever-produced is the credit card. And there is definitely no denying that a credit card is an extremely and overwhelmingly useful and powerful financial tool only if it used properly. ...
Eliminate Credit Card Debt Legally - Strategies For Paying Off Credit Cards
Eliminating credit card debt legally will free up funds in your monthly budget. It will also improve your credit score so you can qualify for better rates on future purchases, such as a car or home. To start getting your credit cards under control, ...
How to Find the Best Low APR Credit Cards
Low APR credit cards are much more prevalent than in years past. Competition is stiff and credit card financial institutions offer many nice perks, rewards, points, low annual percentage rates (APR) and other inducements. They want to capture ...
|
|
|
| |
During the days when the federal bank interest rates were at its lowest, back in 2002 and 2003 to be specific, countless credit card providers offered 0% APR credit cards to many consumers. Needing only to pay the outstanding balance, smart consumers were able to charge up to their limits without incurring monthly interest charges. The question that some people were asking when these cards were at their peak of popularity was this: how do credit card providers make money off of this type of plan? Well, good question! Let's examine 0% APR credit cards and the way they really work and if they are still available to you today. You just might be surprised at the answers!
Annual Fees. Depending on the credit card provider, some card holders have been charged an annual fee for the privilege of having a 0% APR credit card. Annual fees for some of these cards generally run from $15 to $20, even higher.
Late Fees. You would think that if customers had a 0% APR credit card that they would always pay them on time, right? Well, many do not. So, every time a payment is received late credit card providers would assess a late fee. With fees ranging from $19 to $39, that can add up especially if someone is habitually late.
Default Rate. Oh, that 0% rate is nice on the surface. Read the "member's agreement" and you will quickly learn that late payments will not only incur a fee, but a "default rate" would be charged bumping up the annual percentage rate to double digit figures on existing balances as well as on new charges! If you are late you can say, "bye, bye" to your 0% APR credit card in no time.
Short Term Offer. 0% APR credit cards are still offered today. Almost always they are cards for new card holders that offer a 0% rate for a limited period of time, such as twelve months, before a higher rate kicks in, which usually is around 12%. Some cards will allow you to transfer existing credit card balances over to the new card and receive the 0% rate on transferred balances. What a great way to cut your costs and save money too!
Don't worry about credit card providers having difficulty making money even with low or 0% APR credit cards. Rates have since increased, in some cases dramatically, making it more difficult to find a low interest rate credit card. Still, great offers exist, but you must know where to find them. Searching online for your 0% APR credit card is a great way to quickly find and compare the best 0% APR offers available.
Copyright 2006 Ed Vegliante.
About the author:
Ed Vegliante runs the website http://www.credit-card- surplus.com, a directory enabling the consumer to compare and apply for a variety of credit card offers including 0% APR Credit Cards. View more Credit Card Articles.
|
|
|
|
|
|
 Dark outlook for Black Friday - Arlington Heights Daily Herald
NEW YORK -- After pushing steep discounts throughout November that are usually reserved for the day after Thanksgiving, retailers from Kohl's to Toys "R'' Us are offering even bigger cuts and promotions for Black Friday in a frantic bid to pull in ...
Feds: ID thieves stole cards from gym locker rooms - Bellingham Herald
Federal prosecutors say a Renton man was behind a fraud ring that sold iPods and computers bought with credit cards stolen from gym locker rooms in Washington state and Oregon. Gabriel Jang was to make his initial appearance in U.S. District Court in ...
CreditCards.com: Weekly Credit Card Rate Report - Earthtimes
AUSTIN, Texas - (Business Wire) Annual percentage rates for new credit card offers rose this week, according to the CreditCards.com Weekly Credit Card Rate Report. However, that move was due to a change in the composition of cards offered rather than ...
Housekeeper charged in elderly theft sting - 10 News
Gulfport, Florida -- Police have arrested a housekeeper they say couldn't keep her hands off cash and credit cards belonging to her elderly employers. Pamela Jean Ewing, 50, of St. Petersburg was arrested after police set up a sting operation, based ...
Photo: ID theft suspect withdraws cash - Cincinnati.com
That’s in addition to the woman racking up a $1,300 credit card tab at Macy’s and $737 at Kohl’s, said Indian Hill Det. Carl Watts. “It was a random act,” Watts said. “The woman somehow obtained the credit cards and bank information ...
|
