Duran Mueller an expert author and credit card consultant,provides great Advanta credit card tips. Read more credit card articles at his credit card website.
0% Intro APR credit cards are a boon for those who like to manipulate things. These credit cards allow you to save on high interest rates while the offer lasts. How can we use a 0% Intro APR credit card so that it saves us the maximum amount of money? Here are few tips to do it, but make sure you follow the precautions also or things can turn bad.
Don't pay your monthly balance in full when you are using a 0% intro APR credit card. This is simply because you are not paying any interest on your outstanding balances.
Pay the monthly minimum requirements for the credit card. This ensures that you remain in good books of credit card companies. Don't ever default on repayments.
Now suppose you spend $20K over a year (12 months, which is the 0% intro APR period) on a credit card, you get an $18K interest free loan, because you only pay the monthly minimum which is about 2% of the monthly outstanding balance and comes to about 10% of your total balance.
To make sure that you can save money like this there are a few precautions that you should absolutely adhere to:
Keep a track of the 0% intro APR Period. If it is 12 months you have the liberty for 12 months, if its 16 months you have it for 16 months.
Make sure to check out what the 0% intro APR period applies to, balance transfers, purchases, or what all restrictions are there.
When you don't pay the monthly outstanding balances in full, does the 0% intro APR period lapse and a higher rate instantly applies.
What happens to the rewards if you don't pay your balances in full?
Most importantly, the outstanding balance which accumulates at the end of 0% intro APR period should be available with you so that you can dispose off the loan before a high APR rate is slapped on your account.
These precautions and questions when taken care of can make owning a 0% intro APR credit card truly rewarding one.
- Related Articles
- Related Q&A
- 0 APR Credit Card - Truths and Traps
- 3 Must Ask Questions to Maximize your 0% Apr Credit Card Return
- About 0% APR Credit Cards
- 0% Apr Credit Cards you Can Find
- Think Short Term with Your 0 APR Credit Card Offer
- 0% Apr Credit Cards: How to Take Advantage of 0% Introductory Offers
- 0% Apr Credit Cards: are They Right for You?
- 0% APR Credit Cards: The Pros and Cons
After Bankruptcy Credit Repair - How Well do You Stack Up?
By: Vincent Polisi | 16/11/2009If you have filed bankruptcy, you may think you have a good idea of what you need to do next. Find out now with this quiz!
Looking At Credit repair Magic- Will Credit Repair Magic Really Work and Increase My Credit Score
By: Shannon greyson | 16/11/2009If you are looking for a way to repair your credit quickly and easily then you may want to check out the automated credit repair software called credit repair magic. Read this article to find out more
Company Voluntary Arrangement for Business Rescue
By: Derek Cooper | 16/11/2009In the economic downturn a number of businesses are are finding trading difficult. If it looks like your business is unable to pay its bills and is therefore facing insolvency, particularly where there is a large debt burden, a company voluntary arrangement (CVA) may be a good solution to turnaround your business.
Loan debt and Bankruptcy
By: Steve Thatcher | 16/11/2009If your have loan debt that you cannot pay off on terms, then you may need a debt solution. If you need free advice, call Help With Debt
Credit Card Debt and Bankruptcy
By: Steve Thatcher | 16/11/2009If you have credit card debt and you cannot make your monthly payments, you need to consider a real solution. Forget payming for debt month after month, bankruptcy may be the right solution for you.
Young People-Shall We Allow Them to Use Credit Card
By: Venturiwang | 16/11/2009Using credit card has become a popular thing in our modern world. But there are still many people who don’t know the credit card. And many people are doubt it since the news showed us that many young cannot pay the bill. So this article will tell you some advantages about it and show the opinions on using credit card.
Free credit report: Helps to your credit position
By: Mark Johnson | 16/11/2009Free Credit Report is very important to obtain as it helps in knowing your credit condition. On its basis only, lenders approve or discard your loan request form.
Fast Money Online - How to Apply For a Payday Loan to Get Fast Money Online
By: Matt Couch | 16/11/2009One of the hottest forms of online transactions today is E-commerce. It suits our fast paced life in which getting fast money online has been made very simple. Anyone on the lookout for fast cash can just logon to the internet and apply for immediate approval. You can apply for a payday loan online and receive money before your next payday.
2 Major Advantages of Being Rejected for a Credit Card
By: muellerduran | 10/07/2007 | CreditDon't get dejected when you find a rejection letter in your mailbox. Strange it might sound but the rejection letter brings two major advantages with it. It is a real opportunity, waiting to be exploited, provided we look towards it with the right attitude.
Fees for not Using the Credit Card and 3 Other Lesser Known Credit Card Related Fees
By: muellerduran | 10/07/2007 | CreditCredit card companies associate various different fees with the credit card. These fees increase the cost of credit card ownership. A close scrutiny of the terms and conditions associated with the credit card will definitely make the credit card owner aware about them. But, if they find it too cumbersome to read all the document, they can simply ask their credit card agent about it and get the facts straight.
3 Steps to Get your Apr Rate Lowered
By: muellerduran | 09/07/2007 | CreditCredit card companies do lower the APR rates if approached with the right attitude proper planning. What is the correct procedure to do it? In this article we take a look at 3 important things that could help you get that skyrocketing APR under control.
Important Fees Associated With Prepaid Cards
By: muellerduran | 09/07/2007 | CreditPrepaid credit cards are becoming increasingly popular amongst consumer to improve financial discipline and credit history. Though, a prepaid card doesn't come a with late penalty because there are no repayments to be made, but there are various other fees associated with them, which increase the ownership costs.
10 Important Questions to Ask the Credit Card Agents to Find the Right Credit Card: Part-ii
By: muellerduran | 06/07/2007 | CreditIn the first part of this series we talked about five important questions that should be asked to your credit card agent. Revising the concept we find that asking about the various APR's, fees, credit limits, credit card acceptance and additional benefits that come with the credit card definitely help.
10 Important Questions to Ask the Credit Card Agents to Find the Right Credit Card: Part-i
By: muellerduran | 06/07/2007 | CreditApplying for a credit card is becoming increasingly complex day by day. Though the online application form looks simple but there is lot more than filling out the basic information to get the best deal on credit card. What are the questions you should ask the credit card company or agent to achieve your goal?
10 Ways How Student Credit Card Debt Can Turn your College Life Into Hell
By: muellerduran | 05/07/2007 | CreditAre you taking your student credit card debt lightly? The following points show how seriously it can damage your student life. Take a look and get serious about that student credit card debt.
Using the 0% Apr Credit Card to your Maximum Benefit
By: muellerduran | 05/07/2007 | Credit0% Intro APR credit cards are a boon for those who like to manipulate things. These credit cards allow you to save on high interest rates while the offer lasts. How can we use a 0% Intro APR credit card so that it saves us the maximum amount of money? Here are few tips to do it, but make sure you follow the precautions also or things can turn bad.