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[C1255]Credit Cards With No Interest

by Sean Byrne Byrne, Sea

For many Consumers out there, a lot of them would consider obtaining a credit card no interest or a low interest credit card as being the number one priority. And rightly so.. Its saving money on credit borrowing right? This may no be the case with those who pay their balance off at the correct deadline of each month. But for the majority of credit card owners out there, obtaining a low to no interest rate is the way to go, and they don’t get much lower than zero percent!

Utilizing a zero percent balance transfer credit card is a terrific way to save money. There are balance transfers out there in the market that can actually offer assistance to credit cardholders in several different ways. You can be sure too, that there is absolutely no shortage of banks and credit card issuers offering their plastic to the consumer. Some of the many leading credit card companies in
the market include the likes of - Discover card, Citibank, Amex, Chase and bank of
America. All these companies use zero percent offers as an enticement to lure new customers.

These offers work extremely well. They not only work well for the consumer, they
also benefit the credit card issuer as it helps those companies gain new customers
and in many cases they earn big revenue from them. The whole concept of the zero percent interest balance transfer credit card is of course, the fact that there is no interest that will be charged for a specified period known as an introductory period. Normally, these introductory periods usually last anywhere from 6 -12 months, depending on the credit card issuer and charge card that it is offered on. The longest introductory period I have noticed was 15 months.

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Credit cards have ballooned in popularity over the last decade. While once the preserve of the very rich, or very indebted, they are now available to practically everyone who wants them. They have become far easier to get a hold of. There is also a huge variety of choice out there for anyone who wants a credit card.

Different Types of Credit Cards

There are exclusive cards that offer their holders a huge array of benefits in exchange for a fee. But there are also cards that carry no subscription fee, give zero per cent on balance transfers and sometimes on purchases to for a certain period and offer quite competitive rates after that.

Increasing Demand

The credit card industry has experienced a massive amount of competition in recent years. Not only have a huge number of new players entered the market, but with the growth of store cards and debit cards, the traditional credit card providers have had to vastly improve the terms on which they do business with customers. This means that customers have more choice and better offers than ever before and this is also fuelling the demand for more credit cards.

Foreign Travel

Credit cards are becoming increasingly popular for people who frequently travel abroad. Rather than carry traveller's cheques or a host of currencies around with them, they simply take a credit card. This can be used to pay almost anywhere in the world, and even when this becomes difficult, you can still use your credit card in a local bank machine to take out cash in whatever currency you need. Of course credit cards will charge a fee for all of this, but increasingly, as these fees become more competitive, customers are deciding that the fees are well worth the convenience and reliability that they offer while abroad. They are also very secure and if lost or stolen, can be cancelled quickly and easily.

Shopping Online

Online shopping has been another reason for the growth in popularity of credit cards and one of the main advantages to younger shoppers who are buying more and more goods and services online. From flights, to car rental bookings, to books and cds, shoppers would find it increasingly difficult to make such purposes if they did not have a credit card.

Consumer Debt

All of these benefits are what is leading to the phenomenal growth in the popularity of credit cards, but this is also leading to a serious problem of debt. The economy is in dire straits mainly due to consumer debt and with the lure of credit within everyone's easy reach the problem looks set to increase. Only a massive swing in consumer attitude could change this problem without the intervention of the government. The Bank of England in fact is, at the time of writing, contemplating another increase in the base interest rate in an attempt to curb further spending.

Therefore, anyone considering taking out a new credit card should check the terms and conditions carefully and find out if they can afford it or not.

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Both Sean Byrne Byrne & Joseph Kenny 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.

Sean Byrne Byrne has sinced written about articles on various topics from Credit Cards. For more information on credit cards with no interest, please visit. Sean Byrne Byrne's top article generates over 1900 views. to your Favourites.

Joseph Kenny has sinced written about articles on various topics from Credit Cards, Debt Consolidation and Credit Cards. For more information on credit cards visit Joseph Kenny's personal site . He recommends reading the. Joseph Kenny's top article generates over 550000 views. to your Favourites.