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0% Credit Cards

Written by Kathleen Gagne
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It is almost impossible to find 0% percent credit cards, credit cards that offer you a 0% APR. I'd say it's impossible, but I've each seen Yentl about 101 times, and "Nothing's impossible!" has been drilled into my brain. Still, it's highly unlikely.

After all, credit card companies make their money on your interest and your annual fee. And while some cards make offers of no annual fee, it's unlikely they'll cut off their best source of revenue, the interest on your balance. But just because you can't find a card that's a 0% credit card all the time, doesn't mean you can't find one that's a 0% credit card some of the time.

0% Credit Cards 101

Allow me to explain what I mean. There are many credit cards that want to lure you in with amazing offers. To do that, they may well offer 0% credit cards. When you read the fine print, you'll see that the 0% APR is only good for certain things, most likely a credit card balance transfer, and only for a certain period of time.

The hope of the credit card company is that you won't pay off your balance in that allotted time, and they can then start collecting interest. But if you have a high balance on a card that you think you can pay off in the next six months to a year, it's wise to transfer that balance to one of the low APR credit cards. And let's face it--there is no APR lower than 0%.


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