Getting 0% APR credit cards seem to be a wise choice for most people. Why not? You don’t have worry about paying the extra money on your spending, which in some cases could be as high as 24.99%. Well, this is where many people go wrong as 0% APR credit cards is not the perfect gift from the banks. Instead, if you don’t use it wisely, you will end up in bigger mess than using credit cards with more than 0% APR.

0% APR credit cards introductory period

Many of us when reading the credit cards features and see 0% APR, they jump right into the application submission page without reading any further. Well, there is a period which banks call “introductory period” which can be from 6 months to 1 year, in some rare cases, 2 year. The introductory period is where the user of the card have 0% APR. After that, everything goes back to normal, or the APR can be higher. Is it a catch? Well, you can say so but blame the ones who applied without reading the terms clearly first.

Why 0% APR credit cards are so dangerous (to many people)

Spending brings pleasure, especialy when you have 0% APR credit cards. So if you can’t control your habit of over spending, 0% APR credit cards are not a god choice. We all know that the introductory period will end and after that, you will need to pay your bills, your purchases with potentially high APR, in some cases, it could be over 20%. If you plan to pay your monthly bills, things could get worse.

So should you avoid 0% APR credit cards at any cost?

I’m not saying that. 0 APR credit cards are still a good choice if you can control your spending and you have a good plan on how to use it. It is OK to use the 0% APR credit cards in the introductory period to save your some money on the extra charge of the interest rate of other cards but remember, with 0% APR, there will be little to no reward for the card holder. If you want to build your credit score or get reward points, it’s not a good choice to go with zero APR cards.

Some credit cards with 0% APR available now:

Capital One® VentureOneSM Rewards Credit Card

0% APR until Nov, 2012
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Discover® More Card – 18 Month Promotional Balance Transfer

0% on Purchases for 6 months
0% on Balance Transfers for 18 months;
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Discover® More Card

0% on Purchases for 15 months
0% on Balance Transfers for 15 months;
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Chase Freedom® Visa

0% on Purchases for 6 months
0% on Balance Transfers for 12 months;
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Citi® Platinum Select® MasterCard

0% on Purchases for 21 months
0% on Balance Transfers for 21 months
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Citi Simplicity® Card

0% on Purchases for 21 months
0% on Balance Transfers for 21 months
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BankAmericard Cash Rewards™ Visa Signature® Card – New Cash Rewards and Bonus Offer

0% on Purchases for 12 billing cycles
0% balance transfers not available