A 0% APR is essentially a credit card offered by credit card companies to their consumers with an annual percentage rate (APR) of zero percent. However, this rate does not exist forever, and after a period that ranges between three to twelve months, credit card companies begin charging higher rates of interest. Therefore, the major factors to be considered are the duration of the no-interest period, and what would be the APR rate after the offer ends.
Advantages of owning a 0% APR Credit card:
Though 0% APR credit cards have a few catches, they can also prove to be advantageous for its users. The best way to assess these cards is by actually using one. If you pay off the monthly balance regularly, then the rate of interest will not be a major concern. Some of its main benefits are as follows:
– Cut down the interest rate: A 0% APR credit card is popular among users with heavy outstanding card balances. It helps them to slash the rate of interest incurred upon their debt.
– Travel benefits: A 0% APR credit cards offer travel benefits to its users. You could profit from this card if you travel by air frequently. Most companies provide bonus...
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