Sources: Zero interest

Credit card that offers 0% interest

Many people live fearing of high-interest credit card, maybe that's why some avoid using credit card and make a safer deal with debit card or others prefer UPI options. But credit card is not full of debt. It provides discount, reward points and a time to repay back, etc. I've talked about many beneficial things about credit card on my previous blog.

Credit card that offers 0% interest rate. Is there any credit card like that? Well, some credit cards do offers 0% for particular amount of time and after the period over, interest rates will often get high.

So, yes credit cards do offers 0% interest, at least for certain period of time. The period we get is up to 12 to 21 months. And some issuer provides credit card with 0 interest rate for 18 momths. Credit card won’t charge you any interest till that period, but still, you’ll have to pay the balance that you’ve utilized, after month end. I.e., before your due date.

If you lose to make the payment, in your 0% interest rate period, then might the issuer will cancel the 0% interest offer. Credit cards issuers are that punctual, try not to missed out even for single day.

Sources: low interest

Usually, credit card charges interest up to 21% to 42%. Which is quite high, but that too only if you failed to make the payment. So, here some profits comes with a risk.

Some credit cards are the best if their APR (Annual Percentage Rate) are below 14%. You can also get even better deal than that like 10%. If your credit card is higher than 20%, then it's time to look for a great deal out there.

If you really want you use credit card or want to get switched, then you must give a try to low-interest credit card. Look, low-interest credit cards are good. It's better than 0% interest that will only useful for a certain period of time. Later, your 0% interest card will slowly get conversion into higher rates. Lower interest credit card won't give you 0% interest, but the charges will be lower than other cards in the market. Lower interest card are good for those, who would like to roll over the balance, means you don't have to pay the amount in full.

0% interest cards are good in the beginning, till rates won't get high enough and beneficial for those who purchases larger inventory or also to pay down the debt.

That’s all about credit card zero interest rate. So, you should cancel your credit card after pay off? Well, I’ll cover this topic on my next blog.
I hope this might have helped you in any way. If you still have any queries, you ask it on comments section. I’ll try to help you out.

Peace out!