Creating Your Own Zero Percent Credit Card
With the myriad offers for new and better credit cards out there, it’s no wonder that we as consumers are often overwhelmed. The truth is that it’s difficult to read through all of the fine print and find a card that right for you. For one thing, there are different benefits offered with different cards, so how do you decide which card is a better choice? One way is to create your own credit card program.
Wait a minute. You haven’t seen that in any of the offers out there, have you? So, that can’t actually be possible. But it is. What we as consumers so often forget is that there are many credit card issues that we can control ourselves. By combining the benefits that we can create by the way we use our card with those that companies offer, we can, in effect, tailor our credit cards to meet our own individual needs.
What We Can Offer Ourselves
One of the most attractive deals out there today is zero percent APR. The truth is, it’s very simple to provide yourself with zero percent APR on any card. The trick is far simpler than you would imagine. All you have to do choose a card with a grace period and pay off your balance in full every month. If you never carry a balance, then you never pay any interest. That means zero percent net APR, no matter what the card offers.
But wait, what if I already have a balance? Well, there is even a choice you can make in this situation. Find a zero percent balance transfer card that offers the zero percent for a term long enough for you to pay off your full transferred balance. Be certain to read up on the balance transfers first so that you are certain not to be caught by other fees while paying off your debt. Then, transfer your balance and, until it is paid off, simply choose not to add any new charges to your credit card. If that is impractical, and in today’s plastic society it often is, choose a second card with a grace period that offers you the best benefits and rewards to use for your new purchases, but again, you must pay it off in full each month. As long as you don’t carry a new balance, you will again be, in effect, providing yourself with a total zero percent APR for your credit cards.
What Credit Cards Can Offer Us
Credit cards are a wonderful invention, and many people only use plastic to pay these days. In and of itself, that can actually be a very good thing. There are credit cards today that can provide you with multiple benefits simply by using them. If you can plan ahead and pay the cards off monthly, then you can reap these benefits without adding debt.
The first thing to look for is cards with no annual fee. As soon as you pay an annual fee, you are adding to your own expenses needlessly. The second thing to look for is a card that offers you rewards just for using it. This is the part that can take some time, and there are so many benefits available.
Look at your life and spending habits. What sort of benefits will you actually take advantage of? If you travel a lot, look for a card that offers frequent flyer miles or points towards airline tickets, or one that offers discounts on car rentals or hotels. If you like to buy, look for a card that offers reward points towards purchases that you would actually make, or gift cards to places that you already shop or restaurants that you already frequent. If you simply want to save money or make some money to pay off other debts, look for a cash back card that offers extra points for the kind of shopping you already do, such as groceries and gas.
You can make choices to tailor a card to fit your own needs. And yes, you can create your own zero percent interest credit cards.