Use Caution With 0% APR Credit Cards

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What Are 0% APR Credit Cards?

Obviously, the best credit cards are the ones that charge the lowest interest and that do so for the longest period of time. Beware of credit cards that start out with high interest rates and that tie the interest rate to any economic indicator. These variable rate cards can cost you a different amount of interest every time the indicator changes.

Some credit cards start you off with a "teaser," a temporarily lower interest rate that can last for as little as 90 days or as long as a year. The teaser rate can actually be 0%! The trick of managing your finances with this type of credit card is to take advantage of the 0% by transferring other balances to that card and paying them off as quickly as you can.

How To Find 0% APR Credit Cards

Finding 0% APR credit cards that offer no interest for more than six months is very difficult. You can, however, find one that will suit your needs if you look in the right places. Check with your bank; they want your business and sometimes will send offers with your checking account statement.

You can also find 0% APR credit cards associated with such entities as college alumni associations or with specific professions. In some cases, offers for 0% cards will come in your mail in coupon packets or in your newspaper. Look for advertisements on television as well. Whenever you find a 0% APR credit card, the three things you should pay attention to are:

• How long the no-interest period lasts
• Whether you can transfer other balances at the 0% rate
• Most importantly, what the APR rate will be when the offer ends!

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This article on 0% APR credit cards was provided by ArticleInsider.com.