More About A 0% Interest Business Credit Card
If your problem involves unpaid credit card debt with high interest rates
, business credit cards with zero percent interest may just be the solution you need. With a zero percent interest credit card for business, you can slash off a significant amount from your debts since you dont 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 business credit card should you get? Here are factors that you should consider:
The Length of the Zero Percent Interest Period
Zero interest credit cards for small business wont 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 card 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 credit cards in the market.
So if youve decided to get rid of your business credit card debts by transferring them over to a 0% interest card, you should make sure that youll be able to finish completing your payments before the 0% introductory period expires. Else, youll be stuck to credit card 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 youre going to transfer over your high interest debts, you should get a zero percent balance transfer credit 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 credit card in making purchases. If you must continuously use the business credit 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 cards with 0% 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 credit cards can indeed help you get off your high interest debts more easily, but only if you know how to use them correctly.
by: Pamela Williams Build Your Online Business With These Affiliate Tips Background Checks For Small Businesses Choosing Special Corporate Gifts Corporate Gifts Show People They Are Appreciated Giving Corporate Gifts To Your Clients Can Show How Much You Value Their Business Video Conferencing For Forward-thinking Businesses Productive Ways To Use Promotional Printed Pens In Exhibitions Coke Is Small But Terrible Not To Let Blood Clots Block The Heart How You Can Begin A Meals Truck Business Custom Lapel Pins For Branding Your Business Business Credit For Working Capital Market And Key Phrase Research For Online Business Meet Your Cash Needs Without Any Hassle With A Personal Loan