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All you need to know about 0% intro APR credit cards

The first step towards understanding the principle behind a 0% intro APR credit cards is the basic point that is suggested in the name of the card—there is no interest charged on the purchases made using the card for a certain period of time, also known as the promotional period or introductory period. However, you would also need to understand that just because you get approved for a 0% intro APR credit card, it doesn’t mean that you are excused from bill payments altogether. You will need to pay a minimum amount on the card every month, just like you would do so for any other credit card. However, the best advantage of getting a 0% intro APR credit card is that it can assist you especially when you are in the market to purchase any expensive item that would take more than a month to repay.

There are quite a few advantages that 0% intro APR credit cards offer, the main one being that you don’t have to pay any interest on the purchases that you make with your card for a set window of time, which, in most cases, range between 6 to 18 months. 0% intro APR credit cards are the best option that is available to you when you need to make any major purchases, such as a new flat screen television or a family vacation package. You would normally need more time to pay off these purchases and this is when a 0% intro APR credit card becomes invaluable, as you can buy whatever you want and not have to worry about paying interest on your purchase. It also helps you lower the high interest that you may be paying on a credit card. You can always switch to a 0% intro APR credit card, and the money that you pay will all go into paying the principal amount and not just the interest.

As fabulous as a 0% intro APR credit card is, you would still need to qualify to be able to get one. Zero interest credit cards are not that hard to get as long as your credit score is decent. The higher your credit score is, the better chances you have of acquiring better and more plentiful 0% intro APR credit cards. If you are a person whose credit score is just average, you do not need to fret as there are some 0% intro APR credit cards that you can qualify for; however, those cards tend to come with steep APR’s, short introductory offers, annual fees, and balance transfer fees. Moreover, if you have good or excellent credit scores, you will be more likely to qualify for a 0% intro APR credit card which offers low APR and also comes with no fees. In case your credit is not strong enough for you to get approved for a 0% intro APR credit card, then work on boosting up your credit score before you apply again. However, you would also need to keep in mind that applying for multiple cards in a short period of time can push your credit score further down. So, ensure that you wait at least 6 months before reapplying or even further if your credit score is really bad. The bottom line, however, is that you need to have good or excellent credit scores in order to qualify for 0% intro APR credit cards.

Many banks offer 0% intro APR credit cards. Mentioned below are some of the banks that offer 0% intro APR credit cards:

• U.S. Bank Visa Platinum Card: This card offers 0% interest for a period of 18 months. The regular APR after the first 18 months is approximately from 11.49% to 23.49% on the card. There is no annual or transfer fee charged on the U.S. Bank Visa card. With the automatic method of payment, you can avoid interest and late fees. The card comes with online and mobile banking and is also equipped with fraud protection.
• Citi Simplicity Card: Citi Simplicity cards is one of the best 0% intro APR credit cards with no interest on purchases and balance transfers for the first 18 months. There is no annual fee on the card, but your credit score needs to be good in order for you to qualify for this card. There is, however, a 5% charged on balance transfers.
• Bank of Hawaii Visa Signature Credit Card: This card comes along with quite a few bonuses. You can earn one point for every dollar that you spend on this card. You also get a one-time bonus of around $10,000 on spending $1,000 during the first 90 days of opening the account. You can redeem points on any purchase that you make with the card, making this card a popular one.