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What Makes a 0% APR Credit Card Offer Stand Out for You?

Oct 9, 2007
A 0% APR credit card always sounds like a great deal, but there are still a variety of factors that can make one offer stand out above the others. There's no reason to pick the first offer that comes you way just because the sales letter sounds good.

How Long Do You Pay 0%?

The longer you don't pay interest, the better, of course. Some offers may give only 6 months or so of freedom from interest, while others go 15 or even 18 months. A long time without paying interest gives you more time to get things paid down.

What Will the Regular Interest Rate Be?

If you're going to be carrying a balance, the interest rate you will be paying normally matters. It is possible to find a low interest rate combined with a starting 0% APR.

What Does the 0% APR Apply Toward?

If it just goes to balance transfers, you won't be getting any help with purchases made during the initial period. But sometimes you can get it applied to both, or at least a low interest rate on purchases to start things off.

You'll also want to know about any fees associated with balance transfers. Sometimes these will eat up a lot of your savings. However, there may be a cap on the transfer fee which can help.

What About Rewards?

If you like rewards cards, some of them offer 0% or low APR credit cards as well. Consider what you want from the card. If you can get good rewards along with no interest to start and a good interest rate, it's probably a good choice for you.

What Credit Card Issuer Do You Prefer?

It's not always rational, but sometimes you just flat out prefer one company over another. You may have preferred their service in the past, or just trust the brand. So long as this isn't outweighed by other factors, there's nothing wrong with going through an issuer you trust.

Choosing to switch to a credit card that isn't charging you interest can be a great financial decision. You can save quite a bit of money during the initial period, and get those old debts paid down. There's a lot to be said for it for just about anyone who is carrying a balance on their cards.

Take the time to research the various cards so that you know which are right for you. Some cards are better than others for a variety of reasons, and the first offer you see is not necessarily the right one for you.
About the Author
Stephanie Foster blogs at http://credit-blog.findcreditonline.com/ about credit cards and other money issues. Her site offers 0% APR credit cards for comparison .
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