Credit cards are used in most parts of the world today. They are used as a means of payment for purchases made either online or over the counter. So, Credit cards are pretty much a payment card issued to a Cardholder to enable him or her pay the merchants for the goods and services provided which is based on the card issuer’s promise to pay the merchant the amount plus other charges. Note that and issuer is usually a Bank.
Credit card zero percent is a low-interest credit card that saves you money by reducing the cost of the debts. By paying less in interest, you have a faster chance of paying back what you have borrowed or debts owed. An ideal recommendation for such a card is one with a zero percent into APR (Annual Percentage Rate) period because it will save you the most on interest in short term. It is much easier to search for a credit card of zero percent with an introductory interest-free period that is over a year. And if you are a person that is likely to carry a balance most months, a card with a low on-going interest period will tend to work in your favor in the long run.
A zero percent credit card simply put, is a credit card that offers zero percent on purchases mad or spending for an introductory period which means you can pay for high-cost items upfront and spread the cost of repayment. This low-interest credit card also allows users to borrow money for free in the short term and this is due to the fact that you are not charged any interest in spending during the introductory period as earlier mentioned. Speaking of introductory periods, we will be looking at some of the top Zero percent Credit card that has the longest introductory period;
- MBNA zero percent transfer and purchases card: Introductory period of 26 months and a representative APR of 20.93% (tentative)
- Barclaycard Platinum Purchase and Balance Transfer Credit Card: has an introductory period of 25 months and a representative APR of 19.9% (tentative)
- Sainsbury’s bank dual Credit card: an introductory period of 25 months and has a representative APR of 25.95% (tentative)
How Credit Card Zero Percent Payment Works
A zero percent credit card comes with a set period of time where you are not charged on the balance built up on the card with new purchases this is called ‘’Introductory period”. This period usually starts counting down from the moment you receive your credit card. It should be noted that the length of this period is measured in months including those cards that charge no interest for over two years such as the ones mentioned above and a host of others. Also, one of the perks of the zero percent is that for expensive purchases made with this type of credit card, you can divide the balance on the card by across the number of months you have remaining on the introductory period of your zero percent Credit card.
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