How much a person can save with a 0% APR credit card depends on a number of factors.  If the 0% credit card is used for balance transfers, the savings can be monstrous.  If the credit card is used for purchases, the savings can range from monstrous to mediocre.  It all depends on how you use the credit card.

The easiest way to save with a 0% APR credit card is to use it for balance transfers.  With a 0% balance transfer, the average person with a 16% interest rate can save close to $100 for every $1,000 they transfer over the course of a 12 month 0% period.  If that period is 15 months or 18 months, the savings can rise to $120 to $140 for every $1,000 transferred, depending on how quickly you repay your card.

People who make the minimum payments on a 0% APR credit card during the introductory period will reap the most savings with a balance transfer, while those who pay it off faster won’t save quite as much.  Nevertheless, the savings can easily creep towards $500 or more based on the U.S. average credit card debt of about $4500. read the rest of this entry… »

In 2009, most credit card companies reduced the length of 0% APR credit card offers. This time last year, the longest 0% credit card offers lasted 12 months, although many companies only offered 0% interest rates for as little as 6 to 9 months. Today, the longest 0% balance transfer offers last 18 months, though the longest 0% rates on purchases only last 12 months.

Citibank credit cards currently have the longest 0% rates for balance transfers.  The Citi Platinum card carries a 0% APR for 18 months on balance transfers and the Citi Dividend card carries a 0% APR for 15 months on balance transfers. Some Citibank credit cards carry 0% rates on purchases for 12 months, though not all cards carry intro rates on balance transfers.

Discover also offers a long 0% interest rate period on balance transfers that lasts for 15 months. However, the longest 0% APR on purchases offered by Discover is only 9 months. read the rest of this entry… »

Finding the best low APR credit card is a little more complicated than it may seem. The reason is simple:  most credit card offers carry multiple long term interest rates and you won’t find out what your APR is until after you have applied and your credit card application has been processed.

Until very recently, credit card companies made finding a low APR credit card confusing. In advertisements, card companies listed a credit card’s lowest APR using language like “Get an APR as low as 10.99%.”  Unless applicants took a close look at the fine print, they might not learn that the low APR credit card they are applying for could have an interest rate of twice the lowest advertised rate.

Due to advertising regulations that accompanied the CARD Act, credit card companies are now required to more clearly disclose all long term interest rate information.  Thus, instead of a card being advertised with an APR as low as 11.99%, you will now see interest rates advertised as a range, i.e. 11.99%-20.99%. read the rest of this entry… »

Finding the best 0% APR credit card offer has gotten a little easier lately. In the past, credit card companies would advertise a 0% APR for up to 12 months, but only grant some consumers 0% rates for as little as 3 months. This 0% APR bait and switch could easily go unnoticed by consumers who failed to read the fine print of a credit card application.

Today, most 0% credit card offers either last the full advertised amount or are advertised with multiple 0% rates.  For example, you may now see credit card advertise a 0% APR on balance transfers for 6 or 12 months, based on a review of your credit.  These are not the best 0% credit card offers, as the rate you receive may not be the longest advertised rate.

However, because credit card companies are more clearly disclosing how long 0% APR periods last, it has become easier to spot the best credit card applications with 0% interest rates: simply stick to cards that offer the same promotional interest rate to all approved applicants. read the rest of this entry… »

A year ago, most credit card companies were reducing the length of 0% APR credit card offers to as little as 6 months.  Today, some credit card companies are offering 0% interest rates for up to 18 months.  However, if you see an offer with a 0% APR for 15 months or 18 months, there is likely an asterisk next to it.  If this is the case, take a close look at the fine print.

Generally, there are two types of 0% APR credit card offers.  The best kind are straightforward: you apply, you get approved, you get the advertised 0% rate.  Unfortunately, credit card companies like to dangle the best offers in front of potential customers, and one of the ways they do this is by offering the longest 0% interest rates.  read the rest of this entry… »

Although the Card Act may have given many the false impression that credit card applications would not be straightforward, that is not the case.  After the major elements of the new credit card laws took effect, major credit card companies were prohibited from engaging in a plethora of bad behaviors.  This means there will be no anytime retroactive rate increases, but new credit card applications show that banks are trying to make up for this with new cardholders.

The practice of offering 0% interest rates for up to 12 or 15 months, but only granting that rate to a small portion of applicants remains rampant.  If you are looking for a 0% credit card, be sure to check the application carefully and avoid “up to” rates unless you have a 780 or higher credit score. read the rest of this entry… »

Credit card companies work very hard to offer you credit cards that fit within your parameters.  This is great news for you because there is a credit card that can be right for you out there.  You just have to do a little research to find the best credit card for you.  To discover the perfect card consider your situation. 

Do you have credit card debt?  If yes, then you need to seek out balance transfer offers with 0% interest.  Credit card companies offer 0% interest on balance transfers from 6 months up to 15 months.  The typical credit card provides one year without interest.  These cards can save you more than $150 in one year depending on the balance transfer fee and how much you have been paying in interest.  read the rest of this entry… »