Many stores offer their own credit card. Have you ever considered applying for one of these? If so, your decision probably had a lot to do with the incentive for moving forward. In many cases, a store credit card will come with a “zero percent APR” offer for a particular period of time – such as 12 months, 24 months, etc. The question is: is this enough to make you move forward?
The nice thing about a no interest store credit card is that you can buy as much as you want, within your limit, of course, and not have to worry about paying interest. That being said, you need to know when the introductory period runs out. The last thing you want to do is run up a large bill, forget to pay it on time, and find yourself facing a large finance charge.
What will the interest rate be when it adjusts after the intro period? This is a good thing to know because chances are that you will keep and continue to use the credit card. The store knows that most people will do this, and that is why they have no problem giving zero percent to start. In the long run they make out just fine.
If you are going to be spending a lot of money and don’t want to pay for your entire purchase upfront, you should consider a store credit card if you can receive a no interest offer. This will give you the chance to get everything you want and need, while paying off a little bit at a time. Just make sure you get rid of your balance before the first bit of interest is added.
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Tags: Credit, Store Credit