The Finance Factor

Zero percent credit cards are lines of credit which include introductory offers of 0% for a predetermined period of time. During this time, depending on whether or not the customer goes with a balance transfer or purchasing option, they have often as much a year to either pay off a previous credit balance (balance transfer), or accrue zero interest on spending done with their credit cards (purchasing).

In responsible hands, zero percent credit cards can be extremely valuable tools that one can use to work wonders with their personal finance. Unfortunately, not everyone has proven themselves to be effective at accomplishing such a feat. Since 2008, the amount of 0% percent credit cards offers has dropped to just 52 – that’s 45% in just the past year. In addition, zero percent balance transfer introductory plans that once lasted as long as 16 months, have dropped to an average of less than 10 months. Continue reading ‘Zero Percent Credit Cards Are Becoming Extinct’ »

“I am Dracula, and I bid you welcome” . . . Bram Stoker

Thinking about going to a haunted house for Halloween? Save your fright for home and just open your credit card statement. When you do, you might scream louder than Fay Wray on top of the Empire State Building.

Credit cards have been scary since American Express issued the first one in 1958. Because they are mass marketed, non-secured loans; they are as risky as getting bit while taking a nap inside the zoo snake exhibit. Because credit card companies protect themselves from people who don’t pay, they slap everyone with high interest rates and penalties. Despite these high costs, Americans carry $972.73 billion of credit card debt with the average household carrying a balance of $10,679*. That alone is scary enough, but it gets worse. Continue reading ‘The Terrifying World of Credit Cards Just Got Scarier’ »

It’s relatively easy to choose one of the dozens of currently available zero percent credit cards, but it’s still important to educate yourself. This article covers the main features that you’ll want to look for when choosing your zero interest credit card.

Introductory Period – This is the amount time that you have until your interest free annual percentage rate runs out. A typical time frame is any where from three to nine months for purchasing cards and six to 16 months for balance transfer cards. Continue reading ‘Characteristics of Zero Percent Credit Cards’ »