Credit Card Lowdown: What is a 0% Credit Card?

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What is a 0% Credit Card?

As the name suggest, 0% APR credit cards are the ones where 0% interest rate is charged on the outstanding balance. The cards charging low or 0% are the best over a longer period of time. You need to do a comparison and study of various cards and should go for the ones that give low fixed interest rates. Low fixed APR credit cards, levy a fixed low interest rate on the outstanding balance and the rate does not change with financial indices. The companies can change the rate but this needs to be notified 15 days in advance. Mostly all companies give 0% for a limited period. After which they charge a high rate of interest. Take all this into consideration before applying. Not every one qualifies for 0% APR Credit card. You need to have a good credit rating. You need other supporting proofs like proof of residence, employment, identity card, any utility bill etc. Creditlovers.com Reports:

Most of the 0% APR credit cards also offer 0% balance transfer facility that you should avail and transfer your high interest balances to your 0% APR credit card and save money in interest.