Interest Free Credit Card
Of the many attractive features credit cards offer, Interest Free Credit Card is one. In today’s era of fast track consumerism, credit cards are absolute must in your accessory. They give the power of shopping on demand, irrespective of what you have in your pocket or in your bank ledgers. Interest free credit card is more powerful. Just swipe the card and walk away with anything-a fabulous gift for your spouse or a surprise candle light dinner for family at the riverside motel. All you need to keep enjoying is to pay out the monthly dues on the interest free credit card regularly. In the process, you build good credit scores that go a long way in giving you access to more financial packages on credit at attractive terms.
By having a secured credit card account, you can go for an interest free credit card. You keep a security deposit with any bank and your credit card company has access to this account. If you do not pay your monthly dues on your interest free credit card on time, the companies approach this account and withdraw outstanding amount including damages if applicable. However, the interest on the card is adjusted with the interest earned on your security deposit. In effect, you do not, in most cases, physically pay out the interest.
There is however a point of caution. Interest free credit card sometimes come with hidden costs like various fees, processing charges, set up costs etc. You must know them and use them prudently so that you do not get bogged with a huge credit liability. It’s better to ask the card agent about the details before finalizing any deal on interest free credit card.
In the UK Interest Free Credit Card market, the Egg Credit Card is considered as one of the best credit cards. There is an attractive 0% introductory offer not only for balance transfers but also for ordinary purchases, and that is available all through out the 6-month period. They also have a standard 14.9% APR, like few other high-end UK Credit Cards including interest free credit cards.
To get the best out of your Interest free credit card, you have to maintain your repayment schedule strictly. You get a better credit score from this. This reflects your financial liquidity and reliability. Companies consider a person with higher credit scores as less risky for lending money on interest free credit cards. So they offer many attractive schemes and give you special rewards, discounts and incentives like cash-back to have you with them as their valued customer. To get more mileage on your Interest Free Credit Cards, spend with prudence and repay your dues on time. Keep a regular track of your credit score from bureau reporting and always maintain sufficient liquidity in your bank account to quickly pay out unforeseen expenditure on your interest free credit card.