Bad Credit Cards with 0% APR – Not After the Credit Crisis
Posted on | November 11, 2009 | No Comments
Bad credit cards with 0% APR is something many borrowers are looking for. Prior to the credit crisis it was not difficult to find a credit card that offers 0% APR for the introductory period. Many credit cardholders would just bounce balances from credit card to credit card and end up with 0% on those balances as they continued to get new credit cards. This is not something that can be done today.
Credit card companies are finding it very difficult to make their financial statements positive with the amount of bad credit cardholders that are not paying their bills. Many CEOs have announced that they do not expect the credit card industry to be profitable until the end of 2010. One of the main problems is the fact that the unemployment rate continues to rise.
Getting a 0% APR on your credit card is something that is almost nonexistent today. This is drastically different from the way it was before 2006. Many of us can remember getting credit card offers in the mail almost everyday offering 0% for 12 to 18 months and sometimes even longer. Unfortunately this does not look like it will happen again in the near future.
There are credit cards that offer low introductory rates but they often skyrocket after the introductory period. With this being the case it is very important that you do your research and find out which your interest rate is going to be after the introductory period. Sometimes you will still get a low interest rate but often these interest rates are much higher than you would deem reasonable.
But the Christmas holiday coming many bad credit borrowers are looking for a way to get some extra money to spend. One of the best ways to do this is to get a credit card but please understand that using this credit card is going to did you further in debt. Other options include personal loans and payday loans but once again all of these debt vehicles can cause you struggles in your financial future.
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Author: Alan Lake
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