Zero Balance

With all the introductory 0 APR credit cards popping up all over the internet in emails, on websites as advertisements and even in the regular mail through flyers, it is very hard to decide which credit card company is really offering the better deal in the long run. The introductory offers all look great but what happens after they expire? Do not take the introductory offer for 0 APR credit cards at face value. Above all, do a bit of research before you make your decision.

There are so many different 0 APR credit cards being offered that you can become overwhelmed. Today, you can find several companies offering 0 APR credit cards and other incentives to get you to apply for their credit cards.

The four most popular offers today include:

Citi Platinum Select Card You must have excellent credit or you will not be approved for this 0 APR credit card. The card offers 0% APR on balance transfers and purchases for your first 12 months. There is no annual fee, you can manage your account online, and there is zero liability on unauthorized purchases.

Chase Platinum Credit Card – With the Chase Platinum credit card you can be approved for their 0 APR credit cards but you must have at least good credit. You’ll get 0% interest on all purchases and balance transfers for up to 12 months. However in some cases 3 months is all you get for 0% on balance transfers (your credit history comes into play). Regardless, you won’t have to pay an annual fee and you can also access your account online. Whether you qualify for 3 months or 12 months of 0% interest, you will be paying a competitively low APR after the introductory special.

Discover Platinum Card With this 0 APR credit card you will receive the 0% introductory special for 12 months on purchases and balance transfers, with no annual fee and 5% cashback on purchases made at certain stores such as bookstores, gasoline stations, and restaurants. You’ll also get 1% cashback on all other purchases and the cash rewards will never expire as long as you are a cardholder, and in some cases, you can even double your cashback bonuses. Keep in mind, that you will need to have excellent credit to qualify for this offer.

Blue from American Express is one of American Express’ 0 APR credit cards that will give you 0% for up to 15 months, no annual fee, a credit card reward program as well as online account access. Once again, you must have excellent credit to be approved.

This is the information that you will first see when you visit the websites for these card offers while you are searching for the best deal on 0 APR credit cards, however, you should never apply with this information only. Be sure to learn if any of the points or cashback options have expiration dates, and above all, always be sure to thoroughly investigate the card offer’s terms and conditions before applying.

Credit cards are one of the financial industry’s success stories over the last half century, going from strength to strength since the first general purpose card was invented by Joseph P. Williams of the Bank of America in 1958. Since then, the number of cards issued has risen dramatically, and now most adults carry at least one card, with an increasing number of people carrying several.

There’s no doubt that plastic can be a great convenience, making it easier to shop online, by mail order, and by telephone. They remove the need to carry cash beyond small change, and despite some scare stories they are actually more secure than cash, and offer more guarantees should you receive faulty goods or bad service paid for with the card.

However, it’s also widely accepted that credit cards have a serious dark side, although you might perhaps not know that by looking at card issuer advertising and marketing materials. Unfortunately, it’s all too easy to rack up debts on your card account with little to show for the money you’ve spent. The interest rates charged on these debts can be among the highest in the credit industry, and real problems up to and including bankruptcy can result from irresponsible use of credit cards.

So, accepting that you want the convenience of a card, how can you ensure that you stay out of trouble?

The first major culprit in building up debt is impulse spending. Paying with plastic just doesn’t feel the same as spending with cold hard cash, at least until your credit card statement arrives. Resist the temptation to ‘put it on the plastic’, and ask yourself if the purchase you’re about to make is one you’ll regret when the time comes to actually pay for it.

Also avoid using your card to pay bills and other day to day expenses, unless you plan to repay this borrowing when your statement comes. Credit cards are an expensive way of papering over the cracks of a badly thought out budget, and if you really need to borrow then explore other, cheaper ways such as bank overdrafts, credit unions or even personal loans.

As well as allowing payment for goods and services, most card accounts now let you withdraw cash from ATMs and pay by check. Be very careful when making use of these services, as the interest rates charged on them are usually higher than the normal purchase rate. There is also normally no interest free period, so even if you repay the borrowing at the end of the month it’ll still be a costly exercise.

Even by following the above steps to minimize your debt, most people will end up carrying a balance from month to month. This is where possibly the most important advice comes into play: never pay just the minimum amount required. Years ago, the minimum payment was fairly high, at 5% of the outstanding balance. These days, the more common figure is 3% or even 2%. If you only repay this small amount each month, nearly all of your repayment will be swallowed up by interest charges, leaving your debt virtually untouched. This situation can increase the amount of time it takes to clear your debt by literally years, and is hugely expensive in the long run. For this reason you should always try to pay off as much as you can each month, even if it’s only a little bit more than the minimum.

Lastly, while we’re talking about repayments, make sure that you set up an automatic monthly repayment for your card account. It’s very easy to overlook making a payment, and the fees charged for late or missed payments are one of the main ways credit card companies make their profits. It’s better to keep the money in your pocket than theirs!

Choosing To Apply For A 0% Intro Rate Credit Card

If youre of age and with a permanent source of income, maybe its time to own a credit card. If you havent ever considered owning a credit card, maybe its time to do so. There are a lot of good things that could be made possible simply by owning a credit card.

First, credit cards could be of utmost use in times of emergency and unplanned events. If your car breaks down and you dont have cash with you, the words credit card may never sound more beautiful to anyones ears than yours. If you find yourself accidentally breaking an expensive crystal vase in the mall and once again you dont have enough cash with you, guess what alone could help you if theres no one to lend you some money? Your credit card of course!

And those are just necessity-related-advantages of credit cards, mind you. We havent yet gotten to the best part of credit cards yet and thats how it allows us to indulge and pamper ourselves from time to time. Say, you just got out of a very bad relationship and you want to relax and enjoy yourself for a while after feeling down for so long. If you dont have enough money to make your plan to self-indulge possible, your credit card could always come to the rescue!

And of course theres the fact that credit cards let you shop for the more expensive things that you used to allow yourself to drool about only and never own! Well, guess what again? Owning a credit card would allow you not just to drool but own those things as well!

Convinced then? Good, because its now time to pick what type of credit card you should apply for.

There are just two main types of credit cards the type that offers reward and the type that doesnt. Well be picking one from the latter category to discuss and this type of credit card is called the 0% intro rate credit card. Sounds nice so far, right?

Well, a 0% intro rate credit card, as we mentioned, is a non-reward type of credit card so that means you dont get to earn reward points each time you utilize your credit card. On the other hand, you do get to enjoy 0% interest rate for all your purchases. Thats right all your purchases shant be charged with any interest whatsoever!

Whats the catch? Well, the 0% interest rate isnt a forever thing and once the time limit expires, you go back to the normal rates. The good news: if you have something expensive that you need to buy NOW then the 0% intro rate credit card is the optimum choice for you!

When considering a reward credit card, most people prefer to get a cash back credit card. This is because, cash back credit cards provide more options and flexibility for the card holder. While not everyone frequently travels and not everyone drives his own car, cash back cards have become more popular than Frequent Flyer Miles credit cards and Gas Rewards credit cards.

Cash back credit cards give card holders their incentive in terms of cash or money points. Each time the card holder makes a purchase, the purchase amount has a corresponding cash amount that can be used to make new purchases or pay other bills. For this reason, anyone can be an ideal candidate for a cash back card.

Making the Choice

Every credit card issuer offers its own cash back program. Obviously, each cash back credit card also has its own terms and conditions to follow. Knowing this, everyone is advised to take their time in researching about these terms and comparing each credit card from the other.

Today, you can find review sites that are exclusively dedicated to providing reliable credit card reviews for consumers. Usually, these sites are categorized according to the type of credit card youre looking for. For instance, if youre looking for a cash back credit card, you should check out the page that is focused on reviews about the different cash back cards in the market. Through these review sites, comparing credit cards become easier. Once youve narrowed down your choices, based on the reviews youve read from the site, then you can start visiting the credit cards official website for further examination.

Not all about the APR

One of the first things you need to check on is the APR or in the Annual Percentage Rate. Since most reward credit cards are accompanied with high interest, youll want to search for one with the lowest or most reasonable rate. Still, the interest rate is not the only cost associated with your credit card.

Dont focus your attention the cash back cards interest rate alone. Some credit cards may offer an incredibly low interest rate as part of its introductory offer but the other costs and charges can take you by surprise. Always check on the exact cost of all fees that youll be paying. For instance, how much is the annual fee? Is it reasonable enough or would you be paying for an expensive activation fee every year? How much are the penalty charges? Dont forget to examine each fee that comes with your card and make sure that all fees are reasonable.

Earning and Redemption

Okay, so youve checked on the fees and costs. Youve checked on features. Everything sounds great. But have you checked on the rules of the rewards? Are you clearly aware of the procedures on how you can earn points? What about the steps in claiming the rewards? Is there an expiration period or blackout date on your card? Remember to take your time in studying the regulations of the credit cards reward system before making your decision.

Benefits of Debt Relief Programs

People with mounting debts can reap major benefit from debt relief programs. These programs are designed for this specific purpose but choosing the specific terms of the plans could affect each individual’s financial condition differently. If you wish to free yourself off any debt, then you must choose a debt relief program that meets your needs.

For instance, debt negotiation is one common debt relief program that offers benefits to the debtor. It saves money since you will get to pay a reduced amount from the original amount of debt you owe, it will save you time as professional debt negotiators will be the one discussing this debt reduction process on your behalf. If you are able to choose a reliable and sound debt relief program, most people with debts find themselves free of debt within two or three years.

Common Scam Techniques

While there are several legitimate debt relief companies available in the industry, there are a few others who are looking to take advantage of people’s urgency to settle their debts. Like with legitimate debt relief companies, they offer debtors a promise of the opportunity to become debt-free. Sadly though, they most often target individuals who are desperate to find debt relief since they cannot afford to lose their money.

There are a few common tell-tale signs that the debt relief program you are dealing with is a scam. Hence, identifying them will help you recognize whom to trust and whom not to in terms of finding solution for your debt problems.

Charging to Fix Your Credit Report

There are a few debt relief programs who offer their services of cleaning out your credit report and any errors with massive fees. This process is quite intricate, which is the reason why most people often opt to hire professionals to do it for them. However, you need to be extra careful with choosing since some of them can be outright deceptive. Another reason why such claims are considered scam is that you can fix credit report free of any charge. There are three credit bureaus from which you can acquire a free copy of your yearly credit report. When you have the copy, study it for any false information or suspicious transactions.

Loaning To Fix Bad Credit

This particular scam technique affects debtors in two ways. First, you are charged for a loan that you are not even qualified for to begin with. Therefore, the money you spend trying to settle the loan is put to waste since you could have used that trying to settle off your previous credit card debts. Next, although your creditor makes claim that you have loaned out money, you never get to receive any money. Worse thing is, these scams do not provide you with a legitimate company name so they basically run away with your money while you are left with no way to trace them.

False Identity

This is a sure sign that you are dealing with bogus credit repair companies. When they ask you to create a new credit identity to attain a high credit score, then you need to realize that this is a complete illegal move. Even if you are unfamiliar with legal laws, then everyone might be aware that creating false identity is a clear violation of law.

Therefore, make it a point to screen out the credit repair company you are dealing with before you decide to work with them. If you are serious about getting rid of any credit card debt you currently have, then opting for illegal means is not the best way to do it. Moreover, being subjected to scams would cause you money that could have been used to pay off your credit card debts.