We all have went to the mailbox and got that one envelope that promises us a 0 interest credit card. These sound like a good deal, and many times they are an amazing deal. The thing that needs to be understood is that not all times are things what they seem. Sometimes zero interest offers will generally have some sort of catch to them that if you are not reading the fine print carefully, you will get caught up in a world of mess. Having all the facts when you go into one of these offers will be your best weapon to get the most from these offers.
Some of these pre-qualified 0interest credit card offers do have a limit when the zero interest period will end and the interest will sky rocket. This is one of the biggest things that you need to make sure that you consider I have seen offers that promise zero interest and then after two years you are paying 22% interest. When you have been in a pattern of not paying any interest and then you get tossed into this high of an interest rate, then you will suffer a great amount of shock and it could affect your ability to pay your bill. Find out everything before you get into one of these traps and find yourself in a situation you can’t pay your bill.
Pre-qualified also does not mean you are going to get a card. This is a misconception that many people live under when they begin to look at these offers. The pre-qualified just means that you have managed to pass the initial part of the qualification process and as a result have been placed on a list that will allow you to potentially be approved for a card.
Credit card companies are in the business of making money off their cards so they will generally hit you with a large number of other fees in order to make up for the fact that they are not charging you interest. One of the biggest ways that this is done is through the use of a high annual rate that is attached to the card. I have seen cards issued to people with outrageous annual rates that was unheard of. All of this is the bad news, the good news is that there are a large number of credit cards out there that do actually have a zero-interest rate on them and do not charge through the nose for you to have them. These are the ones that you need to pursue and look at closely as to if you will qualify for them or not. On average a person will need to have exceptional credit to get a true interest free card for their use. All others will just be interest free with catches you will have to look hard to find. These cards do exist, you just have to know where to look for them and how to go about applying for them with little to no trouble.