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The Competition Commission one of the governments watchdogs, has at last moved to shame credit cards in to cutting their charges. The long overdue move comes after the Commission concluded that the credit card industry was overcharging customers between £55 and £100 million each year through excessive interest rates and other charges. And this has been going on for a least 3 years!

The main culprits by far are store cards where interest rates are as high as 30.9% - even though the Bank of England’s base rate stands at just 4.5%. The worst culprits were TJ Hughes and the Faith Card followed by Owen & Owen. You can find them heading the Table of Shame shown below in this article.

The commission has also come down on high penalty charges for missed or late payments and Payment Protection Insurance. Average penalty charges are currently £15 per event – but the Commission is also right to argue that these charges are excessive.

As for Payment Protection Insurance, the Commission has joined the consumer body “Which”, the National Consumer Council and indeed the Financial Services Authority in concluding that whilst this insurance can be a good idea, credit card operators have abused it. The Commission has therefore decreed that Payment Protection Insurance must no longer be sold in a combined package with a credit card; it must always be purchased as a separate stand alone transaction. That’ll be good news for the Internet where many of the cheapest Payment Protection Insurance deals can be found. With premium savings of up to 60% in comparison with credit card and loan packed arrangements, business on the Internet will flourish.

So what do the new rules from the Competition Commission say? The five main changes are:

• If a credit card charges more than 25% interest, it must carry a prominent warning that there are cheaper ways to borrow. This warnings must be displayed on every monthly statement.

• The interest rate and penalty charges must me clearly displayed on the front page of each monthly statement.

• The monthly statement must warn of the consequences in terms of higher interest charges, of just paying the minimum monthly repayment.

• Credit Cards must offer every customer the option of automatically clearing their monthly balance each month by direct debit. These direct debits would avoid any possibility of interest charges and late payment penalties.

• Credit Card operators must not sell Payment Protection Insurance in a combined package with credit cards. The insurance must be sold as a separate and optional transaction that enable purchasers to see the true cost.

These new rules seem destined to shame retailers into slashing their charges – that’s not to say that 25% pa interest is a snip! Main line credit cards issued by banks are currently charging around 14% to 18% and we think that’s too high!

Indeed, between 80% and 90% of store cards held by some 11.5 million customers charge more than 25%. But some retailers have jumped the gun realising that their sky-high charges couldn’t last forever. Three store cards have already taken steps to trim back. Harvey Nichols has cut their interest from 28.5% to 21.9%, River Island has trimmed down from 29.9% to17.9% and Monsoon from 29.9% to 18.9%.

But who are the bad boys? Here is our Table of Shame:

TJ Hughes 30.9%

Faith Card 30.9%

Owen & Owen 30.7%

Burtons 29.9%

Dorothy Perkins 29.9%

East 29.9%

Evans 29.9%

HMV 29.9%

JD Sports 29.9%

Kwik Fit 29.9%

La Senza 29.9%

Laura Ashley 29.9%

Miss Selfridge 29.9%

Russell & Bromley 29.9%

Ted baker 29.9%

Topshop/Topmam 29.9%

Wallis 29.9%

Warehouse 29.9%

House of Frazer 29.3%

Bhs Gold Card 29.0%

Habitat 29.0%

Oasis 29.0%

Harrods 28.9%

Fenwicks 27.9%

Selfridges 27.6%

Bentalls 27.2%

Jaeger 27.1%

B&Q 26.8%

French Connection 26.8%

Argos 25.9%

Homebase 25.9%

New Look 25.9%

Note: Some of these cards do offer lower interest rates for payment by Direct Debits. Source: Competition Commission/Moneyfacts March 2006

These credit cards are operated by a number of large finance companies, the largest being GE Capital the American giant. The profits are shared between the card operator and the retailer who is often incentivised by being awarded a higher share of the profit if they hit certain key debt thresholds. This has encouraged stores to put immense pressure on shoppers to take cards out.

The Chairman of the House of Commons Treasury Committee, John McFall has accused retailers of putting profit before customers saying “If you buy a suit from one of the stores then you would expect the retailer to ensure that it was well made and reasonably priced. These principles do not seem to apply to their store cards”.

Let’s all hope that the action taken by the Competition Committee does the trick!

Michael Challiner writes finance articles exclusively for Brokers Online who offer Life Insurance Cover and many other UK financial services including Credit Cards .

What is a Debit Card?
The card you use at the ATM is known as a debit card. When debit cards first appeared it was easy to tell them apart from credit cards. Debit cards didn’t have a credit card company logo on them; instead, they usually just had your bank name, your account number and your name.

Today debit cards look exactly like credit cards even carrying the same logos. Both types of cards can be swiped at the checkout counter , used to make purchases on the internet, or to pay for the fill-up at the gas pump.

When you use your debit card to make a purchase, it’s just like using cash. The account that is attached to your debit card, in most cases your checking account, is automatically debited when you use your debit card. The cost of your purchase is deducted from the funds you have in that account.

In the case of a credit card, you can pay just 5% of your bill amount and carry forward the balance to be paid the next time. You do not have to settle all in one go. This is referred to as revolving credit.

What is a Credit Card?
On the other hand, when you use your credit card to make a purchase you are using someone’s else’s money, specifically the issuer of the credit card, usually a banking institution.

In effect, you agree to pay them back the money you borrowed to make your purchase. In addition you will also pay interest on the money “loaned” to you at the rate which you agreed to when you applied for their credit card. This is known as the annual percentage rate (APR).

While the two cards might act and look alike, the levels of consumer protection that each type of card provides can be different.

Credit Cards offer Better Protection!
Under federal law, if someone steals your credit card you’re only responsible to pay the first $50 of unauthorized charges. However, if you notify the credit card issuer before a thief is able to make any charges you may be free from all liability. If the credit card is not physically present when an unauthorized or fraudulent purchase is made, such as over the internet, you’re also free from liability for those charges.

MasterCard and Visa offer zero-liability protection where you won’t pay any charges if someone uses your credit card to make an unauthorized purchase.

The protection offered to debit card fraud is similar but with a few exceptions. For example, your liability under federal law is limited to $50, the same as for a credit card, but only if you notify the issuer within two business days of discovering the card’s loss or theft. Your liability for debit card fraud can jump up to $500 if you don’t report the loss or theft within two business days.

And if you are the type of person that gives a passing glance to your monthly bank statement, you could be totally liable for any fraudulent debit card charges if you wait 60 days or more from the time your statement is mailed.

Visa and MasterCard zero-liability protection applies to your debit card but only for transactions that do not involve the use of your PIN (personal identification number).

Additional protection against fraudulent use of your credit or debit cards may be available through your homeowner’s or renter’s insurance. Check your policy or with your agent for more information about your coverage.

Also be aware that you should contact your card issuer by certified letter, return receipt requested, after you’ve contacted them by phone to protect your consumer rights.

As for which card to use for what type of purchase, most experts agree that you should use your debit card for the same type of purchases you’d make as if you were using cash. Therefore, it makes more sense to use your debit card than your credit card at the grocery store or gas station (provided you have sufficient funds to cover these purchases of course).

Credit Card Purchase Disputes
You should avoid using your debit card for any online purchase or for something which is expensive. Why? The main reason is that it is much easier to dispute a charge when you use your credit card. Your credit card company will remove the charge until the problem is resolved.

With your debit card you are stuck dealing with the merchant directly to resolve any problems with a purchase. The merchant establishment will have a debit terminal. When you give your card to make the payment, the card will be swiped. The moment it is done, an electronic message is sent to the bank which checks to see if the customer has that much money in his/her account. A credit card requires the bank to make a payment to the merchant establishment (online shop, hotel or wherever you spend money using your card). The cardholder has to settle the bill later.

Thomas Lindstrom is author and researcher on buy tips and use advice for different kind of credit cards available on today´s market.
Url: http://www.greatestcreditcardsite.com

A rewards credit card is a great way for you to get something back for all of the money you have been spending. These rewards can come in many different forms such as gift cards, points etc. If you already have a rewards card, is it the right one? If you don’t already have a rewards credit card, then you could be missing out on offers that could be to your advantage. There’s an old saying that you don’t get anything in life for free, but some credit card companies contradict that saying by offering rewards every time you use their card.

The card companies make offers like those of their best rewards credit cards to attract new business. They also do it to hold onto their existing customers. The credit card business is very competitive and companies are constantly thinking up new ways to attract new customers and reward old customers for their loyalty. The reward credit card is only the latest in a long line of great ways to promote their cards.

Some of the best reward credit cards on offer give the customer savings on items like travel with air miles, groceries, gasoline, even hotel bills. If you want to take advantage of what these rewards credit cards offer, it’s best to find one that will give you the most benefit. It’s no good getting a card that offers free air miles for instance, if you’re afraid of flying. Go online, or look for adverts that offer you something you need. Take your time in choosing a card that’s going to be beneficial to you. Have a look at your normal spending habits. Is there any of the rewards credit cards on offer that can make you a weekly saving on items you normally buy?

Rewards credit cards that offer rebates on gasoline purchases are commonly available. Surely, you are all well aware of the continuing rise in prices of gas. Wouldn’t it be great to offset some of these price increases by getting some cash returned to you every time you make a purchase of gasoline? Many a gasoline rewards credit card will guarantee you a flat percentage cash back on every purchase. Some of the best rewards credit cards will give you 5% back on every purchase of gasoline, as well as another 1% back on all other purchases. If you do a lot of traveling by automobile then this type of card could save you a considerable amount of money throughout the year.

Why not look for a card that offers you the best of both worlds. Some lenders will offer 0% APR credit cards that also offer rewards. Even if you have a rewards credit card you could change it for another that is offering 0% interest. Many of the lenders will let you transfer your existing balance to a new card which can be of great benefit. Doing so could reduce your monthly outgoings as well as giving you the benefit of a rewards scheme.

There is also more than one rewards credit card that offers the customer points. Every time you use your rewards credit card to make a purchase you are given points. These are normally offered at a rate of 1 point to every dollar you spend. Some companies offer you more if you shop at a partner company. The difference between the offers lenders make is when you come to redeem your points. Some will redeem your points for gift certificates, others will have an online shopping portal where you can go and choose gifts that have a value in points. Your rewards credit cards points can then be exchanged for these goods. Banks and lenders have partnered with many retail companies to offer rewards credit cards that can be redeemed against the partner’s goods. Partners include retail stores, hotels and airlines. If any of these are products which you regularly use, then these could be the best rewards credit cards for you. Apply today for your best rewards credit cards and find out that you can get something for nothing.

Protect Your Identity

One’s FICO score is a very important determinant of the ability to finance the purchase or refinance of a home. The FICO score is determined by a formula developed by Experian and takes into account many different factors. In today’s lending environment, automated underwriting has taken a predominant position in the processing of loan applications. It has become more cumbersome to address issues that do not easily fit into the formula. It is of extremely high importance, therefore, to protect one’s credit by guarding against identity theft. Once an item is shown as a negative on one’s credit report, it is very difficult and very time consuming to get it taken off. Also, while an item of bad credit is being investigated and attempts are being made to rectify the problem, the result is that the overall FICO score is reduced, and therefore reflects a greater credit risk than it should.

The protection of your identity is one of the most important functions in maintaining your financial health. Identity theft can cause many a myriad of problems. One major problem could be the inability to achieve the “American Dream” of homeownership. Even if you already own a home, identity theft could cause you thousands and thousands of dollars due to higher interest rates. In trying to refinance a home in order to remodel, for example, the interest rate could easily be 2% higher than the current market interest rate just because someone else used your credit and negatively impacted it.

There are “Ten Top Tips for Identity Theft Protection” published by the Office of Privacy Protection, California Department of Consumer Affairs, www.dca.ca.gov. If one follows these guidelines for protection, one will be far ahead of the average person in safeguarding their identity, although no one is fully guaranteed complete immunity.

The following is a short, abbreviated list of these top ten pointers:

Tip # 1. Protect your social security number. (Don’t carry your social security card with you)

Tip # 2. Fight “Phishing”-don’t take the bait. (Don’t respond online to credit information requests).

Tip # 3. Keep your identity from getting trashed. (Shred information when throwing away).

Tip # 4. Control your personal financial information.

Tip # 5. Shield your computer from viruses and spyware.

Tip # 6 Click with caution! When shopping on line, check out the website before entering your credit card number or other personal information.

Tip #7 Check your bills and bank statements right away.

Tip #8 Stop pre-approved credit offers.

Tip #9 Ask questions of anyone before giving personal information.

Tip #10 Check your credit reports-for free.

Identity theft can be devastating to a person’s finances. It often leaves its victims credit and financial lives in shambles, but by practicing these simple tips you can stay one step ahead of the identity thieves, and be the only one who uses your identity.

For further information related to this article, visit http://www.nefcortez.com

For more information on protecting your identity,financial health, and real estate. Visit Walnut Real Estate where you can also pick up free copies of foreclosure lists.

When confronted with the reality of having bad credit, people’s first reactions are something along the lines of “I’m doomed” or “This is it” and that’s it. But there’s no need to be so depressed and pessimistic just yet.

Haven’t you heard about the wonders of credit repair? Yes, I know, the critics are still going on and on about the need for consumers to be wary of professional credit repair companies and the kind of services they’re offering but whether you do it yourself or hire the services of a professional credit repair company.

If you’re interested to learn about the things you can do to fix bad credit – yours in particular – read on!

Bad Credit Can Still Be Erased – That’s the first thing you have to convince yourself of. The path to credit repair is not a short and easy one so if you don’t have the patience and perseverance for it, I can already tell you now that you’ll be quitting even when you’re not halfway to the finish line. Because you’re doing it alone, the task is doubly harder so you truly need buckets of patience if you want to see this through.

Prepare Yourself For Changes – Don’t fool yourself into thinking that when all this is over and you’ve accomplished what you intended – and that’s to repair your credit – you can immediately revert to your old form and once again not care about payment deadlines, overextending your loans, using up the remaining balance of your credit cards and so on.

If you want the effects of your credit repair achievements to last, then you must promise to yourself not to go back to your old bad habits. Besides, that’s also like throwing away everything you’ve earned!

Deciphering Credit Reports – When you’re about to fix bad credit you can ask anyone in the world with the minimum amount of intelligence regarding financial matters and they’ll tell you that the first thing you’ll always have to do is obtain a copy of your credit report and find out about your FICO scores.

If you have a FICO score that’s above 680, it’s time to set your heart at ease because for now, there’s nothing to worry about. But if you have a score lower than 550, you better wish that your credit report contains a number of errors or you’re in for a longer fight.

Mr. Peter Garant is a long time contributer of financial articles, Most of his work is faxless payday loan and credit repair Articles.

Misconceptions about credit scores and credit repair abound. Some consumers who use credit cards don’t believe they have a credit score or that their credit scores don’t matter so they would never think about credit repair. However, without a good credit score or without credit repair when you score is blown to bits, a consumer may hurt themselves in day-to-day living.

If you have a bank account and bills to pay then you have a credit score and you may be a candidate for credit repair. Credit scores were developed by FICO (FICO is a registered trademark of Fair Isaac Corporation) as a measure of credit risk and are the most used credit scores in the world. A FICO credit score is a three-digit number that gives lenders a clue about how likely you are to repay your bills. If your FICO credit score is bad. You may be a candidate for credit repair.

Your credit score is accessible to anyone with a legitimate business need. Here are two examples. An apartment manager my use your score to decide if you can be trusted to pay your rent on time. Employers may use your credit score to decide if you can be trusted in a high-responsibility job that requires you to handle money. Not knowing about credit scores leaves one vulnerable and you possible need for credit repair.

As with most potential problems there is often a lot of misinformation circulated about the solution to the problem. This is surely true about credit scores and credit repair. When trying to gain accurate information, consumers often come away with the idea that one can boost their credit score by paying more money to a company or hiring a “credit repair” expert.

Here are some areas you need to consider doing. You may need to define a credit score, a credit report, and other key financial terms to help in credit repair. You may need to develop a personalized credit repair plan that addresses your unique financial situation. You may need to find the resources and people who can help you repair your credit score. You may need to repair your credit effectively using the very techniques used by credit repair experts.

Remember, your credit repair does not happen in a vacuum. You may need some outside help.

Dr. Winn Griffin writes several blogs. One on Credit Repair. You can review a list of them at Library of Blogress and here is a credit repair resource that might be helpful for you.

If your business is poised for growth, don’t be held back by a fear of technology if you don’t know how to accept credit cards by phone. E-commerce is the way to go if you want to stay ahead of the competition and grow your customer base. Even if your company does not own a piece of technical equipment, now is the time to jump on the bandwagon to take advantage of easy ways to increase your profits.

To accept credit cards by phone, you will first need to get a merchant account. This is a special account offered by various financial lenders and institutions to reliable merchants that are looking to grow their business. A merchant account provides linkages between your business and customers’ credit payments via a bank processing system that ensures timely receipts and secure transmissions. These can be handled in many different ways, such as through a credit card processor sitting on a cashier’s counter, a Website credit processor, a wireless unit, or as discussed here, a telephone credit processing program. When you get approved for a merchant account, you will be able to choose the most appropriate service for your business, and many companies are opting telephone ordering services that provide a secure means of paying by credit card during a toll-free phone call that is often automated.

You will need to get the best deal on a merchant account before you can accept credit cards by phone. Shop for fees, terms, and products, since these accounts can be very competitive and some are laced with seemingly hidden costs, such as an application fee, gateway fee, and annual membership fee, among others. Once you find out what you will have to pay for a set-up and how much it will cost to put in a phone ordering and payment system, you will be able to negotiate a deal that will optimize your assets without jeopardizing your investment. You may want to use a toll-free number or even more than one number. It may be automated or you might choose to staff the phone line with a friendly customer service representative. It is important to make sure the line is secure so customers can feel safe about ordering and paying by credit card while on the phone with your company.

To accept credit cards by phone, ask your merchant account representative about the various options that you can choose from. Find out how much each one costs both in terms of direct and indirect expenses. Some may be billed at a certain rate per transaction, while others are charged an overall low percentage fee. It might even be a good idea to find out if your customers will want to order and pay be phone, because if not, your investment could dry up quickly. Be sure not to purchase more equipment or support than you need to get started. You can always add more features later as the business grows.

When you install a digital credit processing system, get ready to accept credit cards by phone.

Shane Penrod is the founder of http://www.merchant-account-quotes.com Specializing in allowing merchants the ability to shop and compare multiple quotes from national merchant account providers. For free quotes on merchant account rates and fees, please go to http://www.merchant-account-quotes.com.

Holiday shopping overloaded your credit cards? Worried about the finance charges you’ll soon start paying? Fortunately, you can use a bunch of different tactics to save money on credit cards. Some suggestions follow:

Leave Home without It

If you’re like most people, you spend more money if you carry a credit card around. Some studies show that credit card holders spend 23 percent more on average even if they don’t carry a balance on the credit cards. No investment pays an instantaneous 23 percent rate after taxes. Even business investments. Despite what one credit card issuer says, you’re really better off if you leave home without it.

Cancel Unnecessary Credit Cards

If you don’t carry credit card balances, cancel credit cards that charge an annual maintenance fee. Lighten your wallet by canceling all the cards you don’t use, for that matter. You’ll only spend more if you use them, anyway.

Ask Your Bank to Waive Its Annual Fee

Call your bank and explain that, because of the annual fee, you might cancel your credit card. Tell the bank you think it should waive its annual fee. Your current credit card issuer will probably gulp and then waive the fee. For a two-minute telephone call, you’ll be ahead by $20 or $30. (By the way, most credit card issuers don’t waive the fee on a gold card.)

Consider an Affinity Card

If you travel on business a lot, you can easily run up $10,000 or more on a credit card as you pay for airline tickets, hotels, and rental cars. In this case, it’s well worth it to pay $50 for an affinity card. Once you have the card, charge all your personal and business purchases on it ().

Cancel Credit Insurance If You Have Any

Credit life insurance is usually a big waste of money. You only need credit life insurance if you know your estate will collect and you can’t get a better kind of insurance.
Credit disability insurance is usually another big waste of money. But, as with credit life insurance, you may need this insurance if you require disability insurance and you can’t get better insurance.

Cancel Credit Card Protection Insurance If You Have It

Credit card protection insurance is another waste of money. If some nefarious type steals your credit card and runs up huge charges, you are probably only liable for the first $50 or so as long as you immediately tell the credit card issuer that the credit card was stolen.

Never Make the Minimum Payment

Pay more than the minimum payment. Paying off high-interest-rate credit cards is one of the best investments you can make. (The others are typically investing in a profitable business and contributing money to a 401(k) plan in which the employer matches a portion of the contribution.) If you make minimum payments only, your credit card debt quickly balloons. Very quickly balloons, I should say. Soon you are paying massive monthly finance charges.

Get Rid of Your Gold Card

You’re paying for the privilege and prestige of that gold card. But you knew that, right? You can probably save yourself at least $40 or $50 just by having an old, boring, regular Visa or MasterCard.

Kirkland WA certified public accountant Stephen L. Nelson CPA has written more than 150 books. His bestselling book is Quicken for Dummies, which sold more than 1,000,000 copies. His books have sold more than 4,000,000 copies in English and have been translated into more than a dozen other languages.

Lets stop snoozing and start “stoozing”

Do not think that we are trying to get you involved in any criminal activities here, we’re not and the whole process is legal and above board and will give you the chance to get one over on the credit card companies, who have been relieving us of our cash for many years now.

First of all you will be itching to know what “stoozing” is, well the way that it works may sound a little complicated, but when put into practice it is a lot easier than trying to explain.

Step 1

This is how it works, what you have to do is to apply for two separate credit cards that are giving you a introductory deal with a 0% interest free period and make sure that one of your new credit cards will let you transfer your credit limit into a bank account. So make sure that you have opened a high savings account at your bank, if not then putting the money into your current account will be fine, until you can open up a savings account afterwards.

Step 2

Then you come to the second of the two credit cards and this where you may find that things become a little confusing. If the second credit card does not have the facility that lets you transfer the cash from the credit card straight into the bank account, then here is what to do, ask the issuer of the second credit card to balance transfer from the first card onto the second credit card, this is a back to front way of doing things but this will move money from the second credit card to the first one. This transaction is regarded as moving a negative balance on to the other credit card, so will work in reverse. Once completed all you have to do is ask the lender of the first credit card to transfer this balance to your high interest savings account.

After you have navigated all of this, you will now be in possession of a bank balance that is gathering interest, with the satisfaction of knowing that the money that is making you money, has come from a couple of credit card companies, who have given you an interest free loan.

Remember to pay the minimum payments!

All of this doesn’t come without a couple of problems that may trip you up. Firstly always and I will stress ALWAYS make sure that you meet the minimum payment and the minimum payment only and make sure that it is paid on time.

Plan ahead…

Secondly make sure that you have your next set of two 0% interest credit cards applied for 5 to 6 weeks before the original two cards are coming to the end of the 0% introductory period. (Remembering that one must have the facility to transfer the cash straight into your savings account)

For credit card advice please visit here http://www.creditcards-gb.co.uk/creditcardadvice.html

As soon as these new credit cards have arrived transfer what you owe over to the first two cards to clear them and then cancel the original two credit cards, making sure that you tell the issuer to let their credit agency’s know.

If for some reason that your next two credit cards are not in place, then you will have to withdraw the cash that you owe to the cards from your account and pay them off in full, because remember you are doing this to make money on the interest, not to pay it.

This can be carried on again and again, as long as you can get the 0% interest free period and you are willing to let the cash lie in the bank without touching it.

Peter Kenny is a writer for creditcards-gb
For additional articles and an extensive resource for everything about credit cards, please visit us at www.creditcards-gb.co.uk and www.creditcards2go4.com

When it comes to credit cards, the APR or annual percentage rates is always the ultimate source of confusion and chaos for most credit card users. If you don’t have a credit card but planning on applying for one or you were just recently approved for a credit card then you must definitely read this article. Everything about APR of credit cards shall be explained so read carefully and remember!

What’s APR? Basically, the APR or annual percentage rate of a credit card is the combination of low interest rates and finance charges. With that said, let’s move on to the next topic.
Are There Really Zero Percent (0%) APR Intro Rates And What Does It Mean? – Let’s say you already own a credit card and you’ve used up most of your credit already. With a 0% APR intro rate credit card, you can transfer your balance without incurring additional interest.

Nice, isn’t it? Also, if you’re planning to purchase something but paying it off before the intro period is over then yes, having a 0% APR intro rate credit card is the best option for you. Remember, the keyword here is intro – which indicates that this is only something like an introductory offer so don’t expect the 0% APR to last forever.

What About Low Interest APR Credit Cards? – If you’re in search for a credit card with long-time charges then it’s better to go for a low interest APR credit card rather than one with a 0% APR credit card because the interest rate would just revert to normal for the latter.

Which One Is Better: A Low Interest APR Credit Card Or A 0% APR Credit Card? – Well, this question would require you to research a bit but since your decision will ultimately affect your finances then it’s better to go ahead and research, right?

The first question you have to ask your credit card company is about the length or duration of the intro period if you’re interested in availing yourself of a 0% APR intro rate credit card. The intro period usually lasts between three to fifteen months. Anything less is naturally a disadvantage and anything more is preferable.

Ask also about what the APR of the credit card is going to be after the intro period. If the interest rate is higher than the APR of other credit cards that do not offer 0% APR for a certain period of time AND you’re not planning to maximize the 0% APR you’re given then maybe, it’s better to simply go with a low interest credit card.

Michael Colucci is a technical writer for Low Interest Credit Cards - A site that offers credit cards with an intro rate of 0% for 12-15 months.