Benefits of 0% Credit Cards Switching cards can be difficult - what would be the benefits?
Advantages - More advantages to using a 0% credit card.
Disadvantages - Why you may not want to switch and how many cards to have.
Incentives- Not all cards are created equal.
Options - Depending on your credit record, you may have more choices and strategies available than you think.
Fees - Annual fees and other penalties can quickly eat up any savings you may have.
Who Qualifies- Usually one needs a high credit rating, but not necessarily low debt, in order to obtain a 0% credit card.
Deciding Whether Or Not To Have A Credit Card
What Advisors Sayon this resource.
How Credit Card Companies Can Afford 0% Credit Cards- It's not out of the good of their hearts!
Consolidating - One credit card with no interest can be much more beneficial than several expensive cards.
Mortgage Debt Vs Credit Card Debt
What Kind Of People Use Different Credit Cards
Eligibility for offers for 0% credit cards usually (but not always) depend on the credit score of the applicant. If you have a high credit rating, you're much more likely to qualify. It's worth applying, though, because usually they'll offer you a low-interest credit card even if you don't apply for the zero-interest offer.
Some of the top no interest credit cards offered in the UK include Citi Platinum Select Card, which offers 0% APR on balance transfers and purchases for a period of 12 months. They offer ?0 liability on unauthorized purchases and do not charge any annual fee. The 0% card has a regular APR of 10.74%. Chase Platinum Credit Card, too, offers 0% credit cards for 12 months or for 3 months, depending on the credit history of the applicant.
Blue from American Express features a 0% introductory APR up to 15 months and charges no yearly fee. The card's regular APR is about 11.74% and applicants do not have to have an exceptional credit record in order to get this credit offer.
There is also Blue Cash from American Express, which offers 5% cash back on all qualified purchases. This offer for their 0% credit cards is for six months and they do not charge an annual fee.
With Value Miles Platinum Visa Card, (a frequent flier credit card), the card holder can earn one value mile for every dollar spent. With 24,000 miles you earn can get an airline ticket for any nearby destination. They also do not charge yearly fees and the 0% interest applies to the first 12 months.
HSBC Platinum Master Card offers 12 months of 0% APR and it benefits include unlimited purchase protection and insurance for travel accidents. Their regular APR is 10.74%.
Citi Diamond Preferred Rewards Card offers a ?50 gift card and for every ?1 spent on purchases in drugstores, supermarkets and gas stations can card holders get 5 reward points and 1 point for every other purchase. Of a similar type is the GM Flexible Earnings Card, which offers 0% introductory APR for a year which presents a full one-percent cash back choice, otherwise the cardholder can choose a one-percent earnings towards any new GM vehicle.
Other companies that offer 0% credit cards also include Starbucks Duetto Visa for six months and Northwest Airlines- WorldPerks Visa Platinum Card, which has a credit line up to ?7,500 and a 15,000 miles annual WorldPerks travel reduction. The Northwest card does charge an annual fee of ?55, though.
Copyright 2008 0% Credit Cards UK Guide Articles By Kate Spencer. All rights reserved
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