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Getting 0% Interest Rate Credit Cards
0% interest rate credit cards would mean you are borrowing
money free of cost. There are, however, several things you
should understand before you get 0% interest rate credit cards.
Practically, all 0% interest rate credit cards offer no interest
for a limited amount of time, generally 6-12 months. Some
cards allow you to transfer balances from high-rate interest
cards during the introductory 0% offer period. Some 0% interest
rate credit cards charge very high balance transfer fees such
as origination fees of $50. Some also charge high penalties
for late payments and automatically switch you to a variable
APR rate for a late payment. After the 0% introductory period
is over the new rate of interest charged is very high.
Responsible Use of 0% Interest Credit Cards
It is advisable to scrutinize all the information on any card
before applying for it. Make sure you know all the long term
costs involved before getting a 0% interest rate credit card.
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