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Whenever I hear the number 0%, I hope that it refers to the interest
rate I have to pay and not the interest rate that I have to earn. There are
many different credit card offers out there, and of course when you see
the 0% it seems like it would be the best option. But, when you sit and
think about it you might wonder why one credit card would be 0% and
the other would be 26%, what's the catch?
It is not that the issuer is out to scam you. But you still need to look
close...



Tags: UK credit cards, 0% credit cards, best credit cards




Whenever I hear the number 0%, I hope that it refers to the interest rate I have to pay
and not the interest rate that I have to earn. There are many different credit card offers
out there, and of course when you see the 0% it seems like it would be the best option.
But, when you sit and think about it you might wonder why one credit card would be
0% and the other would be 26%, what's the catch?
It is not that the issuer is out to scam you. But you still need to look close. You never
know what you are in for unless you read all the terms and conditions associated with
the card.
0% Doesn't Mean 0% Across the Board
While there are some legit 0% credit cards out there you need to look at the fine print
before you simply assume that you can buy everything with no interest. The 0% is not
a blank check that you cash anywhere. If applies to some types of transactions. This
isn't to say that you shouldn't take advantage; you just need to be an aware consumer
and make sure that you know how the 0% works.
If you have some credit card balances that you would like to transfer than you may
want to look for a 0% credit card. There are many credit cards out there that offer 0%
balance transfers. The more the transfer, the higher the saving. Many people use these
cards to do away with those high interest credit cards so that they can actually start
making a dent in the amount of money that they owe instead of just paying off the
interest each month.
Many 0% credit cards have 0% interest rate offers on specified purchases. These may
be purchases at specific stores or for specific products, but depending on what you
purchase these credit card offers really can save you a lot of money. You'll need to be
sure to read all of the fine print on these cards to be sure that it is something that will
save you as much money as you would hope.
Then there are the cards that use 0% as the way to ensnare you. Often times this 0% is
good for the first six months or a year that you have a card. This is a nice way to
consolidate debt, make big purchases, pay for car or house repairs, or just buy things
that you have been putting off because you didn't want to pay interest. One more
interesting dimension of credit cards relates to rewards and cash back.
Before you choose any one of the 0% credit cards that you come across you should
read through all of the features. The prudent buyer wants to know the interest rate, not
just on day one but also on later days. Do you need to pay off all of the items that you
bought during the 0% time? Whether you make money or lose money will depend on
how smartly you use the card.

								
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