introductory offers
Introductory zero per cent deals are a
no-brainer, providing you have the discipline to set aside
sufficient money to pay off the bill in full at the end of the nil
irate deal.
Interest free deals typically last from 6-12
months, but these offers have become less prevalent since the onset
of the credit crunch. Card issuers are also becoming more choosy as
to whom they will lend to so you may have difficulty obtaining one
of these deals, unless you have a squeaky clean credit history.
The latter means that you have no history
of defaulting on loans, credit cards, mortgages, hire purchase
deals or even mobile phone bills.
At the end of the interest free period, you
may be able to transfer to another zero interest rate deal with
another credit card provider. Otherwise, the interest rate
will jump to the standard rate charged by that card provider.
This is known as the 'revert to' rate.