Some of the most attractive credit card deals are the ones with 0% APR promotional rates. Some credit card issuers offer the promotional rates on balance transfers only and others apply the same low rate to purchases and balance transfers.
As the saying goes, all good things must some to an end. Introductory rates only last a certain amount of time, at least six months, but sometimes longer. If you sign up for a credit card with a 0% rate, it's important that you know when the rate ends, especially if you sign up for a card that backdates interest if the balance isn't paid by the end of the promotional period.
Before you take advantage of a 0% or other low introductory offer, make sure you understand how promotional rates work. Otherwise, the promotion may not be beneficial.
Here are a few credit cards with great promotional rates:
- Discover it Card - 0% on purchases and transfers for 14 months
- Citi Diamond Preferred Card - 0% on purchases and balance transfers for 18 months
- Barclaycard Rewards MasterCard - 0% on purchases and balance transfers for 15 months
Keep in mind that offers are subject to approval and approval is based on your credit history, income, debt, and other factors. People with excellent credit typically have a better chance at qualifying for the best rates. Credit card issuers also change their offers, so make sure you review their site for the current pricing information.