The credit card market is a highly competitive place these days and one way credit card companies are attempting to pull in new business it through the use of offers of credit cards with 0 APR. These opportunities are only available to those consumers with strong credit ratings and a history of using credit cards, in the hopes they will take advantage of credit cards with 0 APR offers and move their business to the company making the offer.
Nearly all credit cards with 0 APR offers are temporary deals, but can save the applying consumers a great deal of money in the process. There are a number of different types of credit cards with 0 APR offers that can be made available to qualified prospective clients that can meet a number of different needs.
Most credit cards with 0 APR deals apply specifically to the interest rate on new purchases. The zero o APR rate only applies for a limited period of time in most cases, as it is simply an introductory offer to lure in new customers. The amount of time the credit cards with 0 APR deals remain in effect can vary from one offer to another. Some credit card companies will offer the no interest opportunity for three months; others will offer it for six or longer. Since the economic downturn of 2008 and the drastic cutback in the use of credit cards (and credit card applicants), some companies have extended these offers for longer periods of time. Some now offer no interest for as long as 12 or 18 months in efforts to bring in new users.
Some credit card companies are offering credit cards with 0 APR deals to existing customers as well. If the consumer purchases an item over a certain value with the credit card, the interest on that purchase can be waived for a year or 18 months, depending on the offer. Many of the credit cards offering this are affiliated with large business, like Best Buy or a number of jewelry stores.
Some credit cards with 0 APR deals are extended to balance transfers, which can allow a business to move high-interest credit card debt from one card to another and save a substantial amount of money in the process.