If you have a credit card with an 0 APR for 18 months or less, you may have already figured out how tempting it is to sign up for one. Annual fees and balance transfers can quickly add up to a large amount of debt that can be difficult to repay. Yet if you have a credit card with such a low interest rate, you can still enjoy other benefits that may entice you to continue making your monthly payments. You can even enjoy perks like 0 apr for 18 months. There are many perks available when you have a balance transfer card and some of them are explained below.
Cash Back When you make use of your credit card for a balance transfer, you receive cash back. This means that instead of receiving a charge in interest, you actually end up with cash. This can be used as a means of making purchases or as cash to pay for unexpected bills. It is important to note that while the interest free period lasts, you are only paid back the cash that you have earned on purchases during that time period.
0 APR For 18 months or more The longer you have an existing balance on your account, the lower your interest rate will be. You can also enjoy 0 APR for as long as three months after you make your first 3 payments. This is beneficial as it allows you to repay your debt at an affordable cost. It is even possible for you to pay off your balance transfers in less than a year. This can make balance transfers a cost-effective way to consolidate your debt and lower your monthly expenses.
0 APR for 18 months This can be especially useful if you are trying to transfer existing balances between credit cards. By using the 0 apr for 18 months, you can combine your payments into just one. This means that you are not only saving money but you are also able to get rid of the need to pay a separate balance transfer fee. Many credit cards offer 0 apr for as long as ten years, making this an attractive option.
0 APR for 18 months and higher interest rate cards Offers such as 0 apr credit cards provide a great opportunity for consumers to consolidate their debt. This does not necessarily mean that these offers always offer low interest rates. However, there are plenty of offers out there that offer relatively good deals if you shop around. Before you commit to any offer, you should compare the different offers from a variety of credit cards. You may even consider looking online as this will allow you to read all the information you need in one place.
0 APR for 18 months and higher interest rate cards A 0 apr for as long as twelve months may seem ideal. However, many credit card offers offer longer introductory 0 apr credit card periods. These offers can work out cheaper when compared with balance transfers if you take the time to shop around for the best offers.
0 APR for 18 months and higher interest rate cards If you can move quickly enough, you may find yourself in a position where you would be better off paying your balance off each month than taking a loan. Balance transfers to zero interest introductory periods can work out cheaper than taking a loan because you will only have to pay interest for the interest accrued on your balance. You will then be left to make your payment for the entire interest free period of the introductory period, which could be as little as two weeks.
0 APR for 18 months and higher interest rate cards If you already have a balance on your card, you may want to look at whether you can get a 0 apr for as long as three or four more months. In this situation, you can transfer your balance to another introductory offer to continue enjoying the benefits of the 0 apr for as long as you choose. However, you need to remember to pay off your balance before the introductory period is over so that you do not end up with a higher interest rate than you were with your original card.