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You've probably received a call from bank representatives asking you to open an account or switch your balances to them. They might lure you with saying they offer 0% APR on balance transfers or on your first year of using the new card. Using the credit card with 0% APR sounds too good to be true. Before you sign up for their offers, you must be aware of some hidden charges they have.

Usually, the 0% APR offers will start after the holiday season where most people have so much debt. You'll probably receive tons of emails from banks luring you with 0% APR, fast approval and several other perks. Of course, thinking that you'll be able to save a lot on these, you would consolidate your debt to your credit card which you believed has 0% APR.

APR is the acronym for annual percent rate. This is the ultimate measure if you're paying a very high interest rate. A credit card offering 0% APR really sounds attractive, but you have to remember that these credit card companies are here for a profit. Before you fill out that application form for a new account or balance transfer, make sure that you have thoroughly read and understood every item in the Terms & Conditions.

The most common tactic employed in 0% APR credit cards is that this is only for a very limited offer. Some Americans might think that the offer would last for several years, but that's actually not true. You'll only be enjoying 0% APR for at most six months. It's usually just an introductory offer designed to increase their number of account holders.

When the introductory period is over, usually you won't even know it's over, you would have to pay exorbitant credit card interest rates. These are sometimes even higher than what you have been paying previously.

Another thing that you would have to look out for in signing up for a 0% APR credit card is if this offer includes balance transfers. Most of the time, it doesn't. Instead of being able to save, you might find yourself spending more for interest rates if you decide to transfer your credit balances. Usually, credit card companies do not say in their flyers that this 0% APR offer is strictly for purchases incurred in your new credit card with them.

If you happen to encounter a credit card company which promises 0% APR for a year, check their other conditions. Sometimes, it would say that they can terminate the offer anytime, if you have failed to pay the minimum amount due on time. If you're just late even for one day, you would have to begin paying their standard interest rates.

Owning a credit card that has 0% APR can really be advantageous, especially in cutting down your bills. However, you must be very aware of some catches like the ones mentioned above. There are also other ways which credit card companies can extract a few more dollars from you, even if it says that you're paying 0% APR.

Getting a new credit card is something that you should give careful thought. If you're not careful enough, you might find yourself quickly falling into a huge debt. The only effective way to cut down your credit card debts is to become more financially responsible. Don't solely rely on 0% APR credit cards to lower your debts.

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The quickest and easiest way to get a 0 APR Mastercard is to do an online search. You will find hundreds of search results that link to sites offering special introductory deals. However, the best way to find, research and choose the best credit card offers is to use a credit card comparison site. These sites vary in quality but the high end services offer a lot of helpful information on debt management and wealth creation as well as specifically about credit cards. They also provide detailed comparisons between the various credit card offers so that you can easily see the differences. This will help you make the best decision quickly. Most of these sites also allow you to apply online for your credit card. This makes the whole process very quick and easy.

Transferring your current credit card balances to a 0 APR Mastercard is a fantastic way to save a significant amount of money immediately. Let???s face it, monthly credit card bills can place a significant amount of stress on individuals and families. By freeing up the amount of money you are currently spending on interest, you will be able to redistribute your income to meet current needs and so avoid the continuing debt cycle.

By choosing to take advantage of a 0 APR Mastercard you can also gain a longer term and even permanent financial benefit. If you are in a position to use your interest savings to pay down your credit card balance, you will be able to become debt free a lot sooner and consequently save a lot of money over time. If you cannot do this because your budget is currently over-stressed, you may be able to factor in some of the savings to add to your minimum monthly credit card payment. While it is certainly important to enjoy a financial breather from your balance transfer if you need it, it is also important to gain as much long term benefit from it as possible.

Balance transfers to zero or low rate introductory credit cards are also increasingly being used as a temporary debt consolidation solution. If you currently have more than one credit card you can actually apply to transfer all their balances to a single 0 APR Mastercard. While this might not seem like a smart move considering that after the introductory period, normal interest charges will apply, it can give you an opportunity to alleviate excessive financial stress and reorganize your finances. You can also take advantage of the savings to reduce your overall debt. At the end of this period, you can re-evaluate your options and choose the lowest cost pathway to becoming debt free.

The benefits of getting out from under high interest rates are enormous and immediate. If you choose to use some of your interest savings to pay down your credit card balance, you will gain long term benefits as well. You can even choose to transfer your new balance to another 0 APR Mastercard at the end of your introductory term to avoid paying standard interest rates again.

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Both Mario Churchill & Ben Needles are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Mario Churchill has sinced written about articles on various topics from Credit Cards, Anger Control and Credit Cards. Mario Churchill offers low interest credit cards for business, students, or personal use while consolidating and eliminating bad credit debt.. Mario Churchill's top article generates over 246000 views. Bookmark Mario Churchill to your Favourites.

Ben Needles has sinced written about articles on various topics from Business Credit Cards, Anger Control and Business Credit Cards. About the Author (text)Gordon Goodfellow's http://www.credit-card-transfers.com/how-to-get-a-0-apr-mastercard.. Ben Needles's top article generates over 550000 views. Bookmark Ben Needles to your Favourites.

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