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When it comes to credit cards, the reward credit cards are usually much more popular because more often than not, consumers are dazzled by the concept of earning points and winning prizes for themselves just by using their credit cards. But you see, that's simply considering one side of reward credit cards – and that's the nice side, by the way. The other side would be the high interest rates that reward type of credit cards charge its users. So you see, you're not winning those prizes for free – or at least not completely – unless you have the means to pay for your purchases before the cut-off period or before you get charged with interest.
This article, however, shall enlighten consumers about the less popular type of credit card and that would be the non-reward credit card. A non-reward credit card does not allow you to earn air miles or win gift certificates and other cool prizes for yourself just by swiping your credit card as often as you can. Rather, a non-reward credit card lets you purchase everything you want with a lower interest rate compared to reward type of credit cards.
Of all non-reward credit cards being offered in the market, it's the 0% intro rate credit card that creates the most buzz because of two magic words – zero percent! And that's right – credit card companies kid you not with their zero percent interest rate offer! But of course, that's not all there is to it. Though we have nothing against 0% intro rate credit cards, we do suggest that you apply for a 0% intro rate credit card only when it's the type of credit card that would best suit your needs.
A 0% intro rate credit card would be most suitable to a type of user who can not afford high interest rates like what's being charged by reward credit cards, that's for sure. Secondly, a 0% intro rate credit card would also be most suitable to someone who has pressing needs to buy or acquire something but has not enough money to go through with the purchase. Because of their very situation, having a 0% intro rate credit card would be of most help since even with the required monthly payments, they still wouldn't pay as much as they would with other types of credit cards.
Of course, all good things must come to an end and a 0% intro rate credit card is unfortunately no way different. As it is only an introduction rate, once the time allotted for it elapses, you shall revert to paying for normal interest rates.
But that's a long time coming and you don't have to worry about that yet. What's important is to be able to buy what you need and applying for a 0% intro rate credit card is the key!
First, credit cards could be of utmost use in times of emergency and unplanned events. If your car breaks down and you don't have cash with you, the words “credit card” may never sound more beautiful to anyone's ears than yours. If you find yourself accidentally breaking an expensive crystal vase in the mall and once again you don't have enough cash with you, guess what alone could help you if there's no one to lend you some money? Your credit card of course!
And those are just necessity-related-advantages of credit cards, mind you. We haven't yet gotten to the best part of credit cards yet and that's how it allows us to indulge and pamper ourselves from time to time. Say, you just got out of a very bad relationship and you want to relax and enjoy yourself for a while after feeling down for so long. If you don't have enough money to make your plan to self-indulge possible, your credit card could always come to the rescue!
And of course there's the fact that credit cards let you shop for the more expensive things that you used to allow yourself to drool about only and never own! Well, guess what again? Owning a credit card would allow you not just to drool but own those things as well!
Convinced then? Good, because it's now time to pick what type of credit card you should apply for.
There are just two main types of credit cards – the type that offers reward and the type that doesn't. We'll be picking one from the latter category to discuss and this type of credit card is called the 0% intro rate credit card. Sounds nice so far, right?
Well, a 0% intro rate credit card, as we mentioned, is a non-reward type of credit card so that means you don't get to earn reward points each time you utilize your credit card. On the other hand, you do get to enjoy 0% interest rate for all your purchases. That's right – all your purchases shan't be charged with any interest whatsoever!
What's the catch? Well, the 0% interest rate isn't a forever thing and once the time limit expires, you go back to the normal rates. The good news: if you have something expensive that you need to buy NOW then the 0% intro rate credit card is the optimum choice for you!