Bad Credit Credit Cards 0 APR – Low Interest Rate Credit Cards Attainable?
Posted on | February 11, 2010 | No Comments
Many bad credit borrowers are wondering if low interest rate credit cards are attainable. Many of these same borrowers will look to apply for bad credit credit card with 0% APR. Unfortunately, it is going to be very difficult to find a bad credit credit card with no interest. Even if the introductory rate is 0% it will probably not last that long.
The credit card companies throughout America have greatly changed the way that they are running their business. It used to be the case that introductory rates were good for 12 to 18 months. Recently we have seen this number shrink to six months or shorter. If you are a bad credit borrower you can expect to see your introductory rate last only a short period of time.
With this being the case it is extremely important you do not hold a balance on your bad credit credit card. If your introductory rate is about to come up and you have a huge balance on your card you are going to see a significant jump in this balance due to the interest. You do not want to pay hundreds of dollars a month in interest.
It seems to be the case that credit card interest rates are rising in 2010. Many borrowers who have credit scores well above 700 have reported that their interest rate has jumped to about 20%. With the credit CARD act becoming law in late February many credit card companies have increased interest rates.
Author: Tiffany Mann
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