How to Get a Zero Percent Interest Credit Card

Use your credit cards wisely.

You can save a lot of money by using a zero percent interest credit card. However, zero interest credit is usually promotional, typically available only on certain items or for a limited amount of time. Getting a zero interest credit card is only half the battle; using it properly is the other half. If you go wild with zero interest credit without educating yourself about the creditor's terms, you may end up with a serious load of debt when your interest rates skyrocket and accrued interest for the promotional period is added to your principal balance.

Instructions

1. Apply for a major credit card with a zero interest promotional introductory rate. Select a reputable credit card company such as Chase, Citibank or Bank of America. Make purchases or transfer your balances during the promotional period to get the zero interest credit. Read the terms of the credit card very carefully. Typically the zero percent interest period lasts only a few months. To avoid any interest, you must pay off the credit card before the promotional period expires.

2. Get a credit card at stores such as Best Buy or Radio Shack. Electronics and appliance stores often have zero percent interest promotions on merchandise when you spend a specified amount. The term for the no-interest credit in these types of stores usually varies from between three months and three years, depending on what you purchased and how much you spent.

3. Sign up for a credit card at a home improvement store such as Lowe's or Home Depot. Check the store often for zero interest promotions on specific merchandise and on large purchases.

4. Pay off the full balance on your major credit card every month by the due date. You only pay interest on unpaid balances. Exercise discipline, and never spend more than you are sure you can pay off at the end of the month. A rewards credit card that pays a percentage in cash back or merchandise for every purchase you make provides an extra bonus.

Tips & Warnings

• Always read the credit terms that come with your zero interest credit card, as well as any notices of changes to the terms.

• Make sure that you pay every credit card payment on time. Being late with credit card payments can cause you to lose your zero percent interest rate and could increase the interest rates on your other credit cards.

References

• Bankrate.com; Take Care With Your Zero-Percent Credit Card; Lucy Lazarony