Find the Best Credit Card Offers-Low APR, 0% on Balance Transfers

While most of us wish that we could find credit cards that only had 0% APR, they can’t really exist because the credit card companies wouldn’t make any money. However, if you’re looking to save money with a lower interest rate, there are ways to find great deals on APR percentages.

Balance transfers

The trick with getting a 0% APR is to find a credit card that allows you to transfer other balances under that initial lower APR interest rate. While there is usually a time limit to these kinds of offers, they can help save you a lot of money in the long run. And if you think about it, these offers are much like getting the 0% APR on that other card, it’s just a matter of where you send the bill to.

Talking with the cards that you have

You might not know this, but if you’re a good customer for your current credit card company, you may be able to ask for a limited 0% APR period as well. If you’ve been paying your bills on time and keeping a fairly low balance, many companies are willing to reduce or negate the interest rate for a while. They want your business, so they’re usually willing to give you a deal to keep you using their card.

Going online

There are many credit card company comparison sites that will allow you to see which card companies are offering 0% APR for the first year of use or for limited time periods. And while this isn’t a permanent solution, you can see which cards are willing to take you on as a customer for a lower interest rate.

A word of caution

While it’s safe to say that you’re aware of the fact that 0% APR periods can be short, you need to be certain that you understand what the card company defines as a period. In most cases, the first purchase starts the cycle of interest free credit balances, as opposed to the first billing cycle end.

Look to see what the interest rate will be when the trial period is over. If the interest jumps dramatically, you might be in for an unpleasant surprise if you’re still carrying a balance. And the truth is that many of these credit card companies will increase their interest rates from 0% to 15% and even 24%.

Also realize that there might be restrictions in getting the 0% APR. If you make certain purchases or don’t make a payment within a certain time, you might revoke your right to that lowered interest rate. Read the fine print.

Beth Derkowitz recommends Find Credit Cards for finding 0 APR credit card offers.