Zero interest can work to anyone's advantage, given that the person knows how to pay regularly and on time.
Actually, any form of credit card can work to your advantage if you can manage your finances well.
Probably the best form of credit card is the 0 interest card.
However, it has very limited use.
Do not allow yourself to be fooled into thinking that you can do anything with 0 interest credit cards.
They have various functions and limitations.
There are three types of 0 interest credit cards to choose from, depending on the needs of the customer.
It is important to check what kind of card you are applying for before actually signing into one because you may realize too late that you have the wrong credit card.
Here are the variations of 0 interest cards.
1.
0 interest cards with Interest-free period.
This is the type you would need if you want an interest-free loan or cash advance.
Contrary to popular belief, not all 0 interest credit cards offer an introductory period of 0 % interest.
If this is what you are looking for in a credit card, make sure you look for the duration of the 0 % interest promo.
This period can be as short as eight weeks, and as long as 36 months.
This varies per company and per offer to you.
Credit companies would want to know your financial background and assess your financial risk first before giving you an offer.
2.
0 interest cards with 0% interest on purchases.
If you want to buy a jewelry, new furniture, an appliance or other things, you should get this type.
Sometimes, there is no time limit for this type of card because they offer 0% interest on certain purchases only and not on all of your purchases.
Also, other noon-purchase transactions shall incur the regular APR that they have set for the card.
There are also merchant stores that offer 0% interest cards for their products only.
This includes Best Buy, Lowe's Home Improvement, Radio Shack, Home Depot and Haverty's.
3.
0 interest cards with 0% interest on balance transfers.
If you have other cards with a high balance and incurring interest every month, you can opt for this type of card and have your previous card's balance be transferred here.
Although there is no interest for the first few months, the company may charge you for transferring the balance into the card.
If the time allotted for your 0% interest months is about to expire, you can get a new 0% interest card, although you may be charged for transferring the balance out of the card.
For all these types, you can inquire with Chase Bank, Discover, Bank of America, Citibank and other finance and credit card companies.
There are hundreds of offers for 0 interest cards online.
0 interest credit cards can work for you if you can discipline yourself.
Manage your family's finances so that you can be able to set aside enough money to pay for your debts.