Save Thousands On Finance Charges - Without Marrying Your
Banker.
Let's face it - currency isn't green anymore. Currency is a slab
of rectangular plastic decorated in goldfish, landscapes,
paintings or whatever - sporting a magical black strip on the
rear side. Plastic is convenient, but dangerous. However, there
are instances when credit cards can prove to be necessary.
Emergencies, delayed paydays, holidays - all can be aided with a
good credit card.
So which ones are the good ones? How can you tell when a credit
card offer will live up to the hype that it's envelope screams
at you? The biggest thing to look at is the APR. People used to
think that the greater the number of benefits offered by a
credit card - the better the credit card. This is simply not the
case. When it comes down to it, the best benefit out there is to
have low to zero finance charges and interest. A 0% APR credit
card provides this benefit. So do credit card companies actually
offer 0% APR?
When you receive a credit card offer in the mail, the first
thing you should look for is the APR. Likely, it will be printed
in bold and set in a huge font. The offer may read 0% annual
percentage rate or APR - but look closer. Often the 0% offer is
simply a lure to hook consumers and will only last about six
months, and then the APR shoots up. Whether the credit card
shoots up a lot or a little should be the determining factor on
whether or not to sign up for the offered credit card.
Sometimes, even short-term 0% cards can be very helpful. In many
instances, 0% APR is attractive to people who need to transfer a
balance from a high interest card. Debt consolidation is a smart
and common practice to help higher credit scores and manage debt
effectively.
It's hard to find negatives in 0% credit cards, but they can
prove to be less beneficial for some. For those who pay off
there credit cards every month, and do not have to worry about
carrying a balance - a rewards card is the way to go.
All in all, there are three options. One, choose a credit card
with the lowest APR possible. Two, go for the card that offers
the best rewards - as long as you pay it off every month. Or
three, just avoid added debt - because the absence of a credit
card always will carry 0% APR.