The first step in getting a no-interest credit card is getting all of the facts, including information about when interest begins to kick in, annual fees, and charges on balance transfers. In some cases, a no-interest credit card can be a great way to get a reprieve from paying credit card interest. This is only worth it, however, if the annual fees are minimal or nonexistent and the balance transfer charges are reasonable. Before applying for a no-interest credit card, be sure to get all of this information and be sure to understand exactly how long the no-interest period lasts. Also, be sure to find out what the interest rate will become after the no-interest period is over.
There are a number of useful websites that offer comparison and analysis of credit cards that offer zero interest. Take a look at these sites to learn what is available, make a list of possible credit card options, and then do more in-depth research on those selections. Once a potential no-interest credit card has been identified, be sure to get information directly from the financial institution that offers the card and not from any other source. Read every single word of the fine print and be sure to understand it before signing up for the credit card. After all, a no-interest credit card that begins to charge a sky-high interest rate after the introductory period can be, in the long run, a financial pitfall.
Some people prefer to do most or all of their banking with just one financial institution. In addition to searching for a no-interest credit card online, also find out if the bank where one maintains checking or savings accounts is offering a no-interest credit card. Having an established relationship with the financial institution that is offering the card may make the application process easier.
Once the best no-interest credit card has been identified and all of the fine print has been read and comprehended, the application for the card can be completed and submitted. If the application is denied, be sure to find out why. In the United States, financial institutions are required to give a reason when they deny a credit application. Either try to find a remedy for the reason that the application was denied or look for another no-interest credit card to apply for. Just be sure not to apply for numerous credit cards in a short period of time as this can lead to more denied applications.