The Benefits of 8 Months Interest Free Credit Cards

A credit card can be a valuable tool in your arsenal of financial tools, but it can also be quite dangerous if you aren’t careful with them. While some people may not have to worry about credit cards at all, there are still others who are in desperate need of knowing the benefits of 8 months interest-free credit cards. Luckily, they don’t have to go too far to find what they need, as this article shows them exactly what they should be looking for in the best interest-free credit cards on the market today.

What are interest free credit cards ?

Over recent years interest free credit cards have become extremely popular, but do they really save you money? Many consumers believe that having a low monthly repayment is a great way to save money on finance charges. However, as with many things in life there are pros and cons.

A credit card is an unsecured loan and paying off what you owe should be your number one priority over anything else. Using your interest free cards too much could lead to late fees, penalty rates and damaging your credit rating; in turn making it more difficult for you to take out any further unsecured loans in future. If only one purchase on an interest free card exceeds half of your limit then it may not be worth having such a card at all.

The best ways to get private student loans with bad credit

How they can benefit your personal finances

Lenders recognize that not everyone has to have everything right now. In fact, it makes sense to pay for purchases over time, as interest free credit cards can help you build your credit history and reduce your overall debt load in a responsible way.

If you’re thinking about getting a new credit card or already carry a balance on one or more existing cards, consider applying for an 8-month interest free credit card. You can get some great deals out there. but remember that it’s always good to know all of your options when it comes to borrowing money and whether you’re looking at an interest free card.  or another alternative form of financing, be sure to shop around.

Where to find them

For those who already have a line of credit, obtaining an interest-free credit card can be as easy as calling your bank and asking. If you don’t have a line of credit, try checking out applications such as Capital One. You can typically get approved for a small-limit card with no annual fee after filling out some basic personal information.

In some cases, you might even qualify for one with an introductory zero percent APR on purchases or balance transfers (and sometimes both). Either way, you’ll need to call your bank or check online to see what options are available to you—these cards aren’t guaranteed and requirements vary greatly depending on the institution and individual borrower.

How do you apply for one ?

If you find yourself with a few extra dollars in your pocket, you might think about putting it towards one of these interest-free credit cards. These cards typically have low annual fees, but come with perks and benefits that could make them worth signing up for anyway.

Some even offer rewards or bonus points towards purchases that you might use on a regular basis. For example, if you use your card to buy petrol (filling up at least every two weeks), having an interest-free credit card could earn you enough points to get your next tank filled for free! But which one is right for you? Read on Skip-the-line passes.

Depending on how busy they are, amusement parks can get pretty stressful – especially when you’re wanting to rush back home so your food isn’t cold when everyone sits down for dinner. Skip-the-line passes allow guests access into rides without long queues and can save days out altogether.

The best interest free credit cards in New Zealand

Kiwisaver-driven KiwiSaver is a government initiative set up to help New Zealanders prepare for retirement. It encourages savers to invest a small percentage of their pre-tax income every month, by way of tax incentives and subsidies. The benefits? You get access to your money when you need it. If you leave your job and want to start a business, for example, you can take out a loan without making an early withdrawal from your KiwiSaver fund and paying an early-withdrawal penalty.

FAQs about interest free credit cards

What are they? Interest free credit cards mean no interest is charged on your purchases for a specified period. So, let’s say you have a card that has an eight-month interest free period on it. This means you won’t be charge any interest until eight months after you make your first purchase. 

During those eight months, you will only pay off your balance and then when those eight months are up, your interest rate will apply. At that point, depending on how much debt you have on other items like credit cards or loans, it could add up to a substantial amount in fees over time. Can I put my balance on my interest free card?

Things to consider when getting an interest free card

1. 24 Month Interest Free credit cards are not for everyone. It is important to make sure you won’t end up carrying a balance on your card from month to month. If you have problems making payments, do not get an interest free card because it will only increase your debt and may give you a higher interest rate when your promotion expires at 24 months.

2. Make sure you pay your balance off each month! You want to make sure that during these 24 months, you do not carry any monthly balances because if there is a balance, it will be assessed interest right away which would defeat what an interest free credit card was meant for.

Things to consider when getting an interest free card

3. Understand all fees associated with your card. An interest free credit card can come with so many different fees and most people aren’t aware of them until they receive their first statement. Every bank or company has their own rules but here are some common fees: Annual fee, monthly fee(s), overseas transaction fee(s), point redemption fee(s), etc. Be sure to understand how much those charges will affect you in case you find yourself in a situation where you need to use your card but don’t have enough money available (and therefore cannot pay for charges immediately).

4. Don’t apply for too many credit cards at once. Even though you are paying no interest for 24 months it doesn’t mean you should start applying for every single one of these offers as soon as possible and ending up with a ton of credit card bills at once, paying hundreds or thousands of dollars in interest charges before starting any rewards program (because chances are good you will). Give yourself time between getting offers; try asking several months apart instead of weeks apart.



Leave a Reply

Your email address will not be published.