According many popular search engines, a very common term that is continuously being searched for is interest free credit cards. There are thousands of searches being performed everyday and people are searching for credit cards which don not have the additional burden of interest with them. But do they really exist? Or is it just a wild internet hoax with no results on the other end?
There are both good news and bad news. The good news is that such cards do exist. There are various companies which offer zero interest credit cards. But the bad news is that it is only for a short period of time. There are credit cards companies which have 0% interest credit cards, but if there will be no interest, how will they earn? Therefore, they have these schemes only for an introductory period of time. For example, the Citi Platinum 12 BT MasterCard has no interest for one year with an APR of 16.9%. Similarly there are other credit card companies also which have variable APRs ranging from 10% to 17%. It is actually up to the usage of the consumer that he should go for a particular credit card. Unless he cannot keep a balance, he will end up paying huge interests.