Credit cards are today’s normal mode of payment, which almost everyone in the globe uses for their purchases. It gives the consumer a feel-good moment when they shop but gives equally great shock when they see their bills. This is because credit card equals DEBT.

Most consumers put aside this reality and get swallowed in a world of cashless paradise. In order to get this daydream out of your way, it is best to understand how you can get away from debt by understanding the specifics of low interest and zero percent credit cards.

Low interest credit cards are cards that provide consumers with a low percent interest rate when they maintain a balance in their credit card. Most of the time, cards like these also offer a zero percent interest introductory rate for their customers in order to engage them into signing up with them. Customers take these details lightly, but in reality, this is very beneficial for those customers who like to maintain a certain balance in their account.

Zero percent interest rate offers can last from six to twelve months, depending on the bank that carries the card. If this would carry on for a longer time, then I think banks would go bankrupt. Anyway, as consumers purchase more and more but they miss paying the monthly balance, they will not be penalized by paying this amount, plus interest in the next month. Contrary to this, they will still pay the same amount in the next bill.

A low interest rate card also consolidates your debt and makes paying off these debts not too difficult to the bear. Some consumers take advantage of these cards by shifting to another bank with a good introductory rate and transferring their balance to the new card. This is a good strategy, actually, to consolidate and pay off your debt.

These cards also allow you to make big purchases of certain expensive merchandise and pay it off for several months with a zero percent interest scheme. For example, you purchase a laptop and pay it off for six months. With normal cards, you gain interest after each month, as the amount is distributed for six months. But with zero percent interest rate card, you just pay the actual amount per month.

Stepping away from your debt is not an easy thing, but if you understand the basics of your card, you can easily avoid debt from piling over – and even paying those off in one go.

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