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credit credit card interest rates

What Does ‘Zero Percent Rate’ Mean?

Every banks credit cards will set their interest rates on their balance transfers. This means that the interests were set so that interest rates would not apply to your current balance transfers. Thus, your current high credit card interest rates are being paid less what you can afford to pay.

Now we can calculate to find out which credit card offers the best deal on transferring balances, whether this is 0 or any zero percentage rate! Let’s take a look at the two credit card companies’ different rates, and call them. Let say there’s a twenty percent balance transfer offer on offer.

Credit Cards Accept ‘Zero Percent Rate’ Credit Card Offers

Now lets take a look at the rate of interest that the cards carry for all 0% balance transfers on all current credit card accounts.

Minimum Balance – $2000 $1200
Loan – Interest- Free Card Offer (0% Balance Transfer Offer)
$1500
Total Balance – $3000 ($1200 x 3-month period’)

Let’s take the introductory rate of 0% for the first six months, and then continue for another 12 months. That’s zero interest on balance transfers for all but three months. Then we will start calling the credit card companies, and will see which offers offer they are offering. Let’s call out three credit cards that have zero APR for our current period:

Card #1 – Blue from American Express Blue
Blue is the standard offer, and the one that comes with many companies. It will give you 12 months introductory 0% interest offer on purchases or cash advances. Interest will only be charged on purchases after the introductory period is over, and on purchases after the introductory period is over.

Card #2 – Citibank Blue
Citibank Blue offers 0% interest on all balance transfers and cash withdrawals for twelve months. After the break, they will offer a different rate.

Other Credit Card Companies Offer 0%

Now is the time to compare and compare all three offers. Let’s compare the rates of interest that the card offers, then look at the ‘Free’ Balance Transfer (or the other bonus feature available with Chase’s cash back credit cards). Then we decide how ‘free’ is interest free for the first twelve months. Blue will offer zero APR (after that) on purchases and cash advances.

If rates are competitive, the Citibank Blue will offer 0% for the life of a balance transfer. So in other words if rates were competitive for the next 12 months, you can maximize the benefit of this interest-free 0% balance transfer offer.

If rates are not competitive, the Citibank Blue will not offer any credit card intro rates for the life of a balance transfer. So in other words, if rates were competitive after September of of of of any one credit card, you can maximize the significant savings made being able to transfer to this credit card.

Additional 0% Balance Transfer Credit

These cards also offer 0% balance transfer for up to one full year. This means that once the introductory period is over, you can transfer to a new credit card and have 30% or more of your existing available balance transferred to benefit in no time.

Chase/American Express

Chase offers 0% balance transfers for up to one year, which is about as easy as applying to a car dealership. Their 0% for interest-free balance transfer offer will give you a 60 days 0% balance transfer on all purchases and cash advances. This credit card also has no interest free balance transfer offer (even after the introductory period is over). Therefore, you can transfer to any credit card you wish, and reap your second or third or fourth extended period in 12 months.

Best Credit Cards In Stream

The internet is full of the great rewards credit cards and bonus offering offer; and not all are the same! Some cards offer additional months free card balance, while others offer transfer of balances between credit cards (up to one year). If you have the perfect card, you have two types of offers:

(1) Visa or MasterCard rewards card (2) Discover Card.

Chase is the pioneer of the use of credit cards in the big-ticket items. Their zero APR credit cards have become popular among shoppers, if you have the ‘first card’ in the credit card business. For example, just last year one of their credit card purchases included a purchase of $5,000 – they included that extra credit card which, in today’s consumer environment, is more than enough credit to overcome all of that. For the record, Chase’s card holder, his score increased by 200%.