Seeing an advertisement for credit card with a 0% interest rate doesn’t mean the rate is always going to stay that way or even that you’re going to qualify. Many times, this kind of offer is an introductory rate and doesn’t last very long.

 

Furthermore, unless you have a stellar credit profile, you might not reap the benefits. If you start charging unnecessary purchases on the card that you can’t pay off before the interest rate goes up, you could find yourself footing a big interest bill.

 

Before you apply for such a credit card, consider reviewing your credit report to see if you meet the creditor’s terms and conditions.

 

You can also learn how applying for a new credit card impacts your credit score, with other online resources like our Score Planner™, which is free to everyone.

 

 

About the Author
Mark Kennan is a freelance writer specializing in finance-related topics. He has worked as a sports editor and published articles on a number of online outlets.

 

This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions.

Published by permission from ConsumerInfo.com, Inc.  © 2013 ConsumerInfo.com, Inc.  All rights reserved