Bad Credit Credit Cards 0 APR – Credit Card Rules Changing Soon
Posted on | February 7, 2010 | No Comments
With the credit card rules changing soon you are going to find it very difficult to get a bad credit credit card with 0% APR. You may find that you can find a bad credit credit card with 0% APR for the introductory rate but this rate will not last forever. In fact, the average introductory rate has dropped to six months versus 12 to 18 months a few years ago.
If you have very bad credit, with a credit score below 650, you are going to find it extremely difficult to get the interest rate of 0% on a credit card. Unfortunately, credit card companies are no longer allowing subprime borrowers to have money at cheaper rates. This means that you are going to see much higher interest rates on your credit cards if you are considered a bad credit borrower.
There are many options when it comes to selecting a credit card so you might want to open up your searches to different companies. With the advancements in technology it is much easier than it has ever been to search for different types of credit cards. Obviously, the ultimate goal is to get the lowest interest rate possible but there are some other perks that may benefit you.
Before completing a credit card application you might want to step back and look at your current financial situation. If you see yourself drowning in debt with the bill payments piling up then you might not want to take out another line of credit. It might be wise to attack your debt first and then worry about getting another credit card.
Author: Mike Garner
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