It’s true! Banks do offer 0 interest credit cards to preferred customers. But there is an emphasis on “preferred”. A preferred customer is one who pays his bills diligently, promptly and responsibly. A responsible cardholder who has full control over his spending and savings is what banks look for when considering offering the no interest credit card.


With a zero annual percentage rate (or APR), this kind of card is quite a bargain for those who are offered it and accept. Here are some of the advantages of having a 0 interest credit card:

If you already have an existing balance on another credit card, you could easily transfer that balance to your no interest credit card so you never have to pay the interest rates.

• You can save more money when you make any purchases using your credit card that charges no interest. Without the interest rate you can pay off an item at the same cost as the day you bought it since there are no added charges to the amount over the months.
• It is like taking a loan without an interest! Having a debt that you can pay back with no string attached is definitely a dream come true!

So when you are offered a no interest credit card, it is probably because you maintain an excellent credit history. This is all good, but when you do decide to accept such an offer, aside from the advantages mentioned, there are also some disadvantages that you should know about. Here are some of the things that you may not know:

• The no interest offer is only for a limited period. The 0% APR is short term so find out how long this deal will last. You will find that it may last from a few months to a year, so after that period you will start paying regular interest rates again on what you owe.
• This might be an introductory period only. So inquire more about the offer and find out what the interest rate will be after the introductory time expires. Chances are the interest rate will be much higher after the expiry.
• A zero interest rate does not guarantee that you will remain the same responsible spender that you started out as. Even with this great deal, stay mindful of your spending and budget and don’t go overboard when using your no interest credit card.