More About a 0% Interest Business Credit Card
If your problem involves unpaid debt with high interest rates, business credit cards with zero percent interest may just be the solution you need.
With a zero percent interest card, you can slash off a significant amount from your debts since you don't need to worry about incurring additional interest rates on your account.
But with all the zero percent interest offers in the market, which 0% interest should you get? Here are factors that you should consider: The Length of the Zero Percent Interest Period Zero interest cards for small business won't be giving away 0% APR forever.
You should not forget that this is just a limited-time offer.
Typically, after six months or maybe 12 months, the 0% interest rate will expire and you will be charged with regular credit rates.
So, have you checked on how long the zero percent interest will last? Also, are you aware of how much the interest rate would be after the introductory period ends? Will the rates still be reasonable or will they soar higher than what you expected? Credit card companies offer zero percent knowing that many entrepreneurs who will sign up will not really be able to complete their payments within the introductory period.
This means, they will have to continue paying off their balances at the regular interest rate which can be higher than most standard cards in the market.
So if you've decided to get rid of your business debts by transferring them over to a 0% interest card, you should make sure that you'll be able to finish completing your payments before the 0% introductory period expires.
Else, you'll be stuck to debt after all.
O% Interest - Purchases or Balance Transfers For your information, the 0% interest may either apply to balances you transfer or to your new purchases alone.
Of course, if you're going to transfer over your high interest debts, you should get a zero percent balance transfer card.
However, although you may enjoy 0% on your transferred balances, the interest rate that applies on your purchases may be fairly high.
Thus, you need to be very careful about using your 0% balance transfer card in making purchases.
If you must continuously use the card to keep it from closing, be sure that the amount of purchases you will charge are small enough for you to pay back in full to avoid the interest rate altogether.
Zero Percent Interest Credit Card Penalties Business credit 0% card interest offers usually have very strict terms especially when it comes to submitting your payments.
A single late payment can disqualify you from enjoying the 0% interest rate.
Also, you could be charged with expensive penalty fees that can make your debt problems worse.
The point is, 0% interest business cards can indeed help you get off your high interest debts more easily, but only if you know how to use them correctly.
With a zero percent interest card, you can slash off a significant amount from your debts since you don't need to worry about incurring additional interest rates on your account.
But with all the zero percent interest offers in the market, which 0% interest should you get? Here are factors that you should consider: The Length of the Zero Percent Interest Period Zero interest cards for small business won't be giving away 0% APR forever.
You should not forget that this is just a limited-time offer.
Typically, after six months or maybe 12 months, the 0% interest rate will expire and you will be charged with regular credit rates.
So, have you checked on how long the zero percent interest will last? Also, are you aware of how much the interest rate would be after the introductory period ends? Will the rates still be reasonable or will they soar higher than what you expected? Credit card companies offer zero percent knowing that many entrepreneurs who will sign up will not really be able to complete their payments within the introductory period.
This means, they will have to continue paying off their balances at the regular interest rate which can be higher than most standard cards in the market.
So if you've decided to get rid of your business debts by transferring them over to a 0% interest card, you should make sure that you'll be able to finish completing your payments before the 0% introductory period expires.
Else, you'll be stuck to debt after all.
O% Interest - Purchases or Balance Transfers For your information, the 0% interest may either apply to balances you transfer or to your new purchases alone.
Of course, if you're going to transfer over your high interest debts, you should get a zero percent balance transfer card.
However, although you may enjoy 0% on your transferred balances, the interest rate that applies on your purchases may be fairly high.
Thus, you need to be very careful about using your 0% balance transfer card in making purchases.
If you must continuously use the card to keep it from closing, be sure that the amount of purchases you will charge are small enough for you to pay back in full to avoid the interest rate altogether.
Zero Percent Interest Credit Card Penalties Business credit 0% card interest offers usually have very strict terms especially when it comes to submitting your payments.
A single late payment can disqualify you from enjoying the 0% interest rate.
Also, you could be charged with expensive penalty fees that can make your debt problems worse.
The point is, 0% interest business cards can indeed help you get off your high interest debts more easily, but only if you know how to use them correctly.
Source...