Best 0% APR credit cards
Taking advantage of a 0% offer also has the potential to damage your credit score, too. Anytime you apply for a new credit card, the lender submits a request for your credit report in order to determine your credit worthiness. The greater the number of inquiries, the greater the credit risk you appear to be.
A 0% APR means that you pay no interest on certain transactions during a certain period of time. When it comes to credit cards, 0% APR is often associated with the introductory rate you may get when you open a new account.
A good APR for a credit card is anything below 14% -- if you have good credit. If you have excellent credit, you could qualify for an even better rate, like 10%. If you have bad credit, though, the best credit card APR available to you could be above 20%.
You can potentially extend a 0% APR on a credit card by calling the credit card company and asking them if they can extend the promotion.
Balance transfers won't hurt your credit score directly, but applying for a new card could affect your credit in both good and bad ways. As the cornerstone of a debt-reduction plan, a balance transfer can be a very smart move in the long-term.
The answer is that it usually isn't the bank doing the lending but rather the automaker itself. The way an automaker can make money with a zero percent deal is simple: It still earns the same amount it would earn on any car deal, but now the money is earned over a longer span.
A zero percent deal can save you thousands of dollars in interest payments over the life of your car loan, which lowers the total cost of buying the vehicle. Even if the interest rate on the loan you get is only a few percent, when you finance at zero percent, you'll save a good deal of money.
And if you're hoping to score a 0% APR car loan, you'll likely need a very good or exceptional FICO® Score☉ , which means a score of 740 or above. Before you start shopping for a new vehicle, take some time to check your credit score to see where you stand.
Yet No Comments