APR Credit Card Truths and Traps
By: Robert Alan

If you are struggling with ever-increasing credit card debt, a 0 APR credit card could be the magic wand for you. There are a number of 0 APR credit cards in the marketplace. These 0 Interest credit cards offer cardholders zero percent on new purchases and certain 0 APR credit card offers also allow balance transfers, lowering the interest burden even further.
The Truth About 0 APR Credit Cards
These types of 0 APR credit cards are offered by popular credit card lenders including American Express, Citibank, Chase, HSBC, and Discover. These cards have many benefits to offer if you have a good to excellent credit rating.
Keep in mind, that the zero percent offered with these cards is not permanent. It is an introductory rate and is typically offered for ninety days to as long as 12 months. At the end of the interest-free or zero percent periods, cardholders will have to pay a higher ongoing interest rate. Generally, these rates could vary between 10 % - 14% and sometimes can be as high as 24%.
A 0 APR credit card is ideal when you want to purchase something expensive but cannot find another way to finance it. There will be no interest charges for the in and you will have the introductory buffer period to pay off the expense. But buyer beware ... make sure you can pay the purchase off before the introductory APR expires.
Most 0 Interest credit cards allow balance transfers from your existing higher interest cards and many will waive the transfer fees. This is one of the best methods to pay off debts at a faster rate, leading to substantial savings on the interest charges incurred.
It is possible that a single credit card can have multiple APRs including the following:
1) One APR for balance transfers, one for purchases, and one for cash advances ? the APR normally would be higher for cash advances compared to balance transfers and purchases.
2) Tiered APRs ? Different APR levels can be assigned for different account balance levels or tiers, e.g., 15% for balances between $1 - $500 and 17% for balances higher than $500, etc.
3) Introductory APR ? 0 APR as the introductory offer and a higher rate upon expiration of the introductory period.
4) Penalty APR ? A penalty APR rate may apply if you are late with your payments.
The Traps to Watch Out For:
A 0 APR credit card is an attractive proposition, and often is too tempting an offer to resist. However, it is essential to be informed about the often-untold catches in these lucrative offers.
1. The 0 APR is a Limited Time Offer ? In general, the 0 APR offered is only for a limited period. The period could vary from 3 months to 12 months. This implies that purchases made during this period will not attract any interest. You need to be cautious about the expiry period and remember to pay off before the period ends inorder to avoid hefty interest charges.
2. Once the introductory period is over, the 0 APR credit card may have a ridiculously high interest rate like 20% or higher.
3. On-Time Payment ? Most of these 0 Interest credit cards require you to pay the minimum payment on time every month during the introductory period. Late payments will result in penalties that include shifting the remaining balance to a much higher APR.
4. Complete Payment ? Certain 0 APR cards require you to pay off the balance entirely before the expiration period of the introductory offer. If not, the default high interest rate could be applied to the entire balance. Ensure that you understand these credit card terms clearly.
5. Applicability of the 0 APR ? Most of the 0 Interest cards offer the 0 APR on new purchases and balance transfers in the introductory period. However, there are some cards that offer 0 APR on balance transfers only with higher applicable APR's on new purchases.
6. Other Fees ? Some credit card companies compensate the 0 APR by charging high annual fees or transfer fees on balance transfers.
7. Cap on Balance Transfer ? Certain cards may have a cap or limit on the balance transfer amount. This means that the 0 APR will apply only for the amount within the cap limit and anything more will be charged the default higher APR.
While it may be an attractive offer to go for 0 APR credit cards, it may not be a wise decision in certain scenarios. So, before you seriously consider a 0 APR credit card, it is essential to compute credit balances, interest rates, and your pay off capability. Read the terms and conditions carefully to avoid credit traps. Understanding the fine print could have substantial savings apart from trouble free credit rating.
For more information on what to watch for in 0 APR credit card offers, Robert Alan recommends that you visit CreditCardAssist.com

There are a lot of women owned businesses and they seem to be sprouting up more and more every day. I think that is really awesome. It shows that there are more and more women who dare to do their own thing. The kinds of businesses that I'm most attracted to are ones that express their originality through the creative medium.
I have always been a creative person. As a child I was painting, creating collages all over my bedroom walls, playing guitar, singing, designing rooms and making clothes. Pretty big palette of creative expression wouldn't you say? It wasn't until recently I really found myself being called toexplore my unique creative expression and how I apply it in my business. It became very clear to me that I have no problem expressing my creativity in other areas of my life, but when it comes to my business I have been really holding myself back.
The reason for that was my thinking that if I allow myself to fully express my creative ideas and who I'm in this way, I'll be rejected, no one will be interested and because that is not the norm when it comes to running a business. So I would create ways to stop myself from fully expressing them into being. I have seen way too many women creating their business that is based on rigid structure, seriousness and is male energy driven. What I mean by male energy driven? Business that is driven by force, intellect and action. Business that doesn't really honor emotions, intuition, receptivity, playfulness and creative power.
It takes all the fun and aliveness from it. The reason I know this is because I have been there and I was miserable. I love flow, I love fun, I love expression and flexibility. I love uniqueness and being bold. I love the unconventional and colorful. I love incorporating the childlike playfulness into every aspect of my life because that is who I am. And I really cherish when I see a woman who dares to be herself and create new and creative ways to engage in the world and make money through that expression.
It takes balls to be different, colorful and alive. It takes guts to be yourself and not let anything outside of you to compromise that. It isn't always easy either. I have found myself way to many times trying to conform to the ways of business that I thought were going to get me to a certain place, just to see the opposite. Why? Because I was trying too hard to be something I'm not and conforming to ways that weren't me. And so, ultimately going through those experiences have taught me to trust who I am, trust my creativity, to trust my gut and follow it.
I realized that my creativity allows me to find new ways of functioning and looking at things that are more engaging and more fun, that really allow full expression of being. I believe that we all have those abilities but many of us have put them aside and let them lie dormant for too long. So today I want to challenge you to really explore the ways you bring creative expression into being through your business. To really make a date with your creative expression and let it speak to you, dare to listen and act on what it has to say.
Here is how you can start:
1. Give yourself permission to creatively express yourself in your business.
Many women don't give themselves permission to express their creative energy, so I have created a statement for myself that I would like to share with you. You can alter it the way you see fit. I just want to give you a reference point. This is my version. Feel free to create your own.
I Erika Gombosova give myself permission to creatively express myself in my business and in all my endeavors, touch other women by them and to profit from those expressions."
2. Create space to listen to your creative expression,
Put aside 10-15 minutes a day to listen to your creative voice without judgement.
Here are some questions that you can start working with:
What kind of activities stimulate your creative expression? (For me creative ideas come to me while I'm searching the net, taking a shower or just sitting on my deck and watching the birds and nature. Other times it's while I'm looking at pictures or different art and design work. Sometimes it happens while I'm listening to a piece of my favorite music.)
Do you allow yourself to express your creative voice in your business? In what ways? List them.
Are there any thoughts that hold you back from fully expressing your creative voice in your business? List them.
3. Take action to bring your creative expression into being.
You might be called to create specific product that nobody else thought off, or to create a special teleclass around a topic that you feel really excited about. Or maybe you are called to creatively inject your schedule and your business structure in the way that is more fun and exciting to you.
Dare to listen, express and act upon your creative expressions and watch your business and your life blossom. Here is to your creative success!
Let me know how it goes, I would love to hear your success stories.
Source: Free Articles from ArticlesFactory.com
ABOUT THE AUTHOR
Erika Gombosova is the founder of the Confidence To Success System™— a program that shows women entrepreneurs how to reconnect with their innate wisdom, power, intuition, confidence and how to turn who they are into profit and success. Join Erika’s growing community of Conscious Entrepreneurs and receive your FREE copy of Unstoppable Self-Confidence Test plus the five part E-Course, “How to Create Unstoppable Confidence as a Woman Entrepreneur” by visiting: www.unstoppableconfidencecoach.