Lock In A Zero Rate & Zero Fee Card Offer In 2012 For Maximum Savings
Jan 26, 2012 General
A zero rate and zero fee credit card is optimal for all credit card owners. This is a type of card which features an interest rate of zero and no fees for using the card. These opportunities are harder to come by but if you know how to find them it would be a great deal to take advantage of. This particular type of credit card can be found and obtained at any time of the year but becoming qualified will be the main difficulty.
To be approved for a zero rate and zero fee credit card it is necessary that you have at least good credit. You do not want to apply for this type of card if your credit rating is poor or fair. If you are having trouble getting accepted for a basic interest rate card with a low balance then this is obviously not a likely option for you. If you have reasonable credit then it is very possible that you will get approved for this type of card but you should know what you are getting involved in before applying.
This type of offer sounds too good to be true. The catch with this deal is that if you have any mess ups with paying the card off then you will end up paying a very high interest rate. Most of these cards also only offer an interest free and no fee introductory period which may last a set amount of months or years. These benefits may only be offered with purchases, balance transfers, or both of these. It is important to know the specific terms and duration of the zero interest and zero fee benefits.
The ability to complete balance transfers at no rate at all is a major benefit in itself. This transfer is done by moving funds from one credit card account balance to another at a separate credit card company. If you have enough open credit you will be able to complete a balance transfer between two of your credit cards. This has many benefits such as allowing you to continue paying off credit cards to prevent interest from accumulating. Most interest free cards only have this as a feature for the temporary (introduction) phase but permanent balance transfer fee-free cards are definitely very beneficial.
You should have no issue being approved for a zero rate and zero fee credit card if you have an excellent credit history and score. This type of card is usually very beneficial during the introductory months but the adjusted interest rate and fees may or may not make it worthwhile. You will have to make sure that you go through the terms and “fine print” of the card to know what you are really getting yourself into. Ultimately, there are opportunities for you to lock in a zero rate and zero fee card offer this year but this may not be as great of a deal as you would expect. Therefore, be sure to look into the zero rate and zero fee card offers more before you apply for one of them so you can get the best deal possible.
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