Credit Cards With Zero Interest

By RonTago on January 21, 2011 In Credit

Credit cards or plastic money has made a huge impact on the market in recent times. Credit cards are plastic cards which are used as substitutes for actual cash money. The customer can make purchases using the credit card, and he can pay the dues to the issuer on maturity of the credit limit. In a credit card transaction, entities involved are the customer, the credit card issuer, and the person who accepts the credit from the customer. The issuer receives the amount from the customer on maturity of the credit term, and the interest charged on the credit given. The interest on default if any. Credit cards with no interest are cards where the issuer does not charge interest on the credit they give.

Zero interest credit cards are issued to the people who maintain a great credit history. People with bad credit history cannot get such cards. The customer, or the user, of such cards needs to be extremely careful, because if he fails to make the payment in time, then he has to pay a huge sum as a late payment charge. Once the consumer fails to comply with the clauses he can no longer get zero interest credit cards.

Credit cards with no interest are very useful to the people who have to spend a lot, provided they are successful in clearing the dues in time. There can be various charges which the consumer will have to pay, like transfer fees etc. The main advantage of zero interest credits credit cards is that it’s a money saving tool. Such cards have an introductory limit ranging from three months to twelve months. As these cards cost less as compared to other cards they are issued to only people with exceptional credit. One needs to check all the conditions, and check all the fees, that are payable before subscribing to credit cards with no interest.

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