Did you know 0% interest credit card rates could ruin your life?

Fact: 0% interest credit card rates could ruin your life.

3 Cases where this can happen …

1. It ends up costing you more: After the 0% interest time is up, the credit card rate could spike. If you do not pay the card off before this happens, you could be paying sky high rates. Also, what about possible annual fees?

2. You could kiss your good credit score goodbye: You open the card for the low rate and you use it the one time then close it out. Closing out credit cards could ruin your credit.

3. No rewards for you! Okay so this one can’t actually ruin your life, but it leaves you missing out on the rewards you deserve! Most 0% interest credit cards don’t offer rewards.

While we think staying away from a credit card with a 0% interest rate is the way to go, we know that there are some cases where one may be a better choice for you. Opening a credit card with a 0% interest rate could be the better option for you if:

1. You plan on paying the credit card off before the 0% interest period is up.

2. You don’t care that you won’t get rewards with it.

3. You plan on using the credit card one time and then paying it off completely with each month’s bill to avoid a high interest rate that would come after the 0% interest time period is up.

Making financial decisions such as which credit card to choose can be difficult, especially with a flashy 0% interest rate. We encourage and welcome any questions on this to be brought into a First Financial branch or called in at 732.312.1500, Option 4.


1 thought on “Did you know 0% interest credit card rates could ruin your life?

  1. Hi I am so grateful I found your site, I really found you by error, while
    I was searching on Yahoo for something else, Anyhow I am here now and would just like to say thanks a lot for a fantastic post and
    an all round enjoyable blog (I also love the theme/design), I don’t have time to browse it all at the moment but I have book-marked it and also added in your RSS feeds, so when I have time I will be back to read much more, Please do keep up the excellent work.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s