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An essential guide to 0% Interest Credit Cards


Today there are ever more options for the savvy consumer in terms of how they operate their finances. An essential tool for this for many is a credit card, however with so many providers, with each offering differing rates, deals and terms and conditions choosing the right credit card for your needs can be nothing short of a nightmare.
A popular choice of credit card is a 0% interest rate credit card, however some consumers can have trouble understanding the two main types of 0% interest rate credit cards. To this end this guide talks you through choosing the right package for your needs and what else you should bear in mind when signing up to a credit card deal.

Finding the best deal for your 0% interest rate credit card
Types of 0% Interest Credit Cards
0% on new purchases
The first type of 0% interest rate credit cards that you may have come across is those that offer interest free purchases for a set period. The length of such periods will differ drastically from provider to provider and this factor should be the first consideration of choosing between deals. Other factors include the interest rate that will be charged following the interest free period. There are few people who can pay off the balance completely at the end of the term, so unless you know for certain you can, you should plan ahead for this eventuality.

0% Balance Transfer Deals
Another type of 0% interest rate card may be considered to be those that are in the form of credit cards that offer an interest free balance transfer. A key consideration in this instance is how much the provider will charge for such a transfer. This will be of either a set amount, or a percentage of the total that is to be transferred.
You may also want to think about the interest rate that will be charged following the period of interest free credit.

Price comparison websites
Once you know which type of 0% interest credit card you’re looking for you can take to the internet to use the many price comparison websites out there to compare deals.
These websites will allow you to narrow down your search by entering some basic personal details and details as to either how large a balance you’re looking to transfer or what terms you’re looking for in a 0% on new purchases card.

Other considerations when choosing a 0% interest Credit card
Balance transfers: Are they the wisest move for you?
If you have numerous debts and find yourself moving your credit card balance around continually it may be wise to seek financial advice as to whether there’s a better option for you in the form of a personal loan. Very often this will see you working through your debt more quickly, as well as benefitting from lower interest rates as opposed to numerous transfer charges.