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The Future of 0% Credit Card Offers
Put succinctly, the future of 0% credit card offers is uncertain. During the past five years, it was hard to open up your mailbox and not receive an offer for a 0% deal. Recently, you may have noticed a sharp decrease in these mailings. And soon, those 0% APR offers we’ve all taken for granted may become a thing of the past.
There are a number of reasons to be concerned about the future availability of 0% credit card rates. First, of course, is the credit crunch. If banks won’t lend money to consumers with good credit who want to buy homes, it is very possible, if not likely, that they will stop giving consumers 0% interest rates to fund everyday purchases.
A second reason to fear for the future of 0% credit cards is a new set of regulations that target certain credit card practices. These new regulations are best known as the “Credit Cardholders’ Bill of Rights Act of 2009.” While these new rules will provide a number of consumer protections, they will also alter the way credit card companies do business, particularly in the area of 0% interest lending.
History, too, offers a reason to fear the disappearance of 0% credit cards. In 1999, less than 40% of credit card offers provided introductory rates, and those rates were in the 1.9% to 5% range. In 2001, a good introductory rate offer was 2.9%. And this was long before the words credit crunch entered the public dialogue.
0% credit cards are an excellent way to manage expenses and facilitate debt reduction. For example, a person with a $3000 balance on a credit card that charges a 14% interest rate can save over $400 on interest in a single year by doing a 0% APR balance transfer. Similarly, using a 0% credit card to make new purchases can allow you to keep more money in the bank (earning interest, hopefully).
Unfortunately, the 0% APR party may be coming to an end. However, its not too late to take advantage of these deals. Yet. *Important Disclaimer: See online credit card applications for complete details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the “Apply Now" button, you can review the credit card terms and conditions on the issuing company's website. | 
