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A credit card offer, which carries a zero- or low annual percentage rate (APR), is enough to capture the interest of most consumers, these days. In fact, some of them might even sign up for the credit card program, right there and then, even without taking a close look at the regular rate and the fees and charges that may apply on it. But, would this be a smart decision?

Not at all! Truth is we discourage our readers from applying on impulse. Instead, we advise you to consider the following factors, first, before making up your mind:

Is a Zero-interest Credit Card For You?

Generally, the zero interest rate is only applied to one particular transaction. Some cards offer 0% APR on balances transferred but an expensive rate on new purchases. As a result, you might incur an even bigger debt due every time you use your zero-rate card for shopping.

Nevertheless, there are those who apply for a 0% balance transfer card, without actually using it for consolidating balances. They might think that the zero rate is applicable to new purchases when in fact, it is a different rate altogether. If you’re not careful, you could be signing up for the wrong reasons.

How much would the regular rate be?

Before submitting that online application, check out the complete terms and conditions. How much will the regular APR cost you when the introductory period ends? Are there restrictions that you should be aware of? What happens if you miss a due date of payment? Will you be penalized with the regular rate plus the late fee?

If you need a new card to consolidate your credit card debts, make sure that you’re getting one with a sufficient length of introductory period. Under the new Credit CARD law, issuers are required to provide six months at the very least. Within that period, you need to be able to complete your payments while the zero interest applies.

[Article: What Makes a 0% APR Credit Card An Attractive Offer]

Beware of the Cons!

A zero interest rate offer may sound like a fabulous deal. Yes, some issuers may use the zero percent offer as bait to attract new customers. With a 0% APR included in their ads, a credit card becomes more appealing to the market. However, enjoying the benefits of not paying interest rate would largely depend on your choice of credit card and how you will handle your account. Before signing up, carefully weigh the pros and cons of your decision.