As the market for credit cards has become increasingly competitive it has become necessary for organisations that provide credit cards to offer increasingly better offers to potential customers in order to attract their custom. The most dominant offer in the last couple of years has been the increasing promotion of zero interest offers. This type of offer is particularly attractive to a potential customer as it effectively provides them with a loan facility with the perk of a zero interest period or interest free period.
Zero interest credit card offers take two forms, which we outline below:Zero Interest on Purchases
Firstly there is the zero interest credit card offers which allow the holder of the card to make purchases with retailers using the card but then do not charge the card holder with interest on the credit card for a fixed period. Most credit cards do not charge the cardholder interest on purchases at the end of the month provided that the balance of the credit card has been paid off during the month. However with this offer the card providers extend that zero interest periods for a fixed number of months. Some card providers now provide up to nine months. This therefore is really an interest free loan. If the balance is not paid off within the interest free period then interest becomes chargeable on the balance at the end of that zero interest periods. As a general trend the longer the interest free period the higher the interest rate that is then applied when that zero interest offer for the credit card finishes.Zero Interest Balance Transfers
This is the second very common zero interest offer that a large number of credit cards now offer to their holders. The cardholder is able to transfer the balance on a card they already hold and on which they may be paying interest to a new card that they have applied for. The new credit card then gives the cardholder a fixed period of time during which no monthly interest is charged on the balance of the card. Again this is like a temporary loan to the cardholder. However the credit card provider does then start to charge interest on the balance at the end of the zero interest periods. Some cardholders now offer long periods of time in there offer period. There are many examples of cads that offer 12 months zero interest offers to their customers. Some cards even offer lifetime balance transfers. One way these credit card providers still make money is by charging a fee for making the balance transfer from your previous credit card. This fee is commonly 2.5% at the time of writing but does vary between credit card providers.
The existence of so many credit cards that offer zero interest offers has led to the trend that has commonly become known as card surfing or credit card swapping. This is the trend where card holders switch to a new credit card shortly before the zero interest offer on their current card comes to an end. They transfer the balance and then enjoy a further interest free period and then do this again before that zero interest period ends. Read out article on credit card surfing to read a bit more on that topic.
Undoubtedly the ever increasing number of credit cards offering very attractive zero interest offers to their customers is likely to lead to an ever increasing number of people getting themselves into debt. This can be a bad thing if they do not carefully manage their debt. However such increasing levels of spending do help keep our economy in the UK growing and this is good for our society in general but debt must be managed if it is o be kept under control and unfortunately many people do get them selves into financial trouble if they do not manage that debt properly. For these reason anyone who has debt should learn about managing it and seek advice from qualified financial advisers where appropriate. There s also a lot of free advice and information available on the web. On this site we provide easy to use tables to assist the user in identifying financial products but it is your responsibility if you choose to go to the site of a financial product provider to ensure it is suitable for you.
Whether you are looking for zero interest credit cards offers yourself or is looking for other financial offers or products we hope you find this site useful to you.
Zero Interest Credit Cards are very difficult to find in todays commercialised world. With thousands of credit cards flooding the market daily, it is a daunting task to select the most appropriate card that will satisfy all your requirements. Our site, Ukfinancialoptions.co.uk, helps you in selecting and applying for the credit card that provides optimum benefits to you. With our credit card comparison chart, you can compare all the credit cards that provide zero percent interest rate. This page lists the credit cards based on their payment rates and almost all the credit cards on this list boast of zero percent interest payments.
Compare and select the finest Zero percent interest credit cards
Our all-inclusive credit card comparison list includes all the zero percent
interest rate credit cards from various financial institutions available
in the market today. Along with the interest rate of the credit cards,
the list also contains the features of the respective credit cards. The
comparison chart is presented in a tabular form aiding in the comparison
of the credit cards based on its features. Morgan Stanley Fly and Buy
card and Egg Credit Card are some of the credit cards in this listing
of zero interest credit cards. Both these credit card companies are offering
these cards at never before rates and with unbelievable features like
zero percent interest rate on purchases as well as on balance transfers.
With such incredible offers on the cards it is advisable to pick up the
credit cards as soon as possible through us right away. Apply Now…