Free Credit Cards - To Get Or To Deter

• Are interest free credit cards legitimate?
• How interest free credit cards can be made use of?
• What are the major free credit card scams?

Legitimate Credit Card Offers

1. Interest-free credit cards
   Many types of credit cards offer an introductory period during which new customers do not need to pay any interest on their credit card balance. These so-called no-interest credit cards have introductory periods that range from a few months to more than a year. If you are trying to consolidate your credit card debt or wish to finance a larger purchase, you can take advantage of the no-interest period to pay for and then pay off your balance. However, do be sure to read the fine print to see how much interest you will be paying after the initial period. If the interest rate is much higher than that of similar cards, you may be better off looking for a lower-interest card that makes you pay full interest from the start. If you plan on using a no-interest card to pay off debts or purchases, do make sure that you can pay off the entire amount before the introductory period is up to avoid hefty interest rates.

2. Swipe-free credit cards
   These credit cards are one of the new innovations of credit card companies and they are expected to become the norm in a few years. Instead of being swiped, these cards have a device that can be held over a scanning device and read. Companies claim that this new card could be much safer since it will never have to leave a card user's hand, reducing the possibility of skimming fraud. Skimming involves an unscrupulous employee quickly scanning a card using a personal tiny device. The employee can then sell the card information to companies and online criminals. The new contactless cards would not only reduce these threats, claim credit card companies, but they would considerably speed up credit card transactions as well.

3. Fee-free credit cards
   These credit cards do not ask you to pay any annual credit card fees. Today, many unsecured credit cards are fee-free, since customers are less willing to pay for cards when they do not have to. If you have a credit card, you may wish to look for a credit card with the lowest credit card interest rate and a no-fee feature in order to save money. Today, it is possible to get student credit cards, business credit cards, and even reward credit cards with no annual fees, so no matter what kind of card you need, chances are good that you will not need to pay fees on it each year.

4. Credit cards with free applications
   Some credit card companies may advertise free applications. In many cases, this is nothing unusual. You should be able to get free applications for most credit cards, since few companies charge for applying for a card. However, you will usually have to pay to apply for prepaid credit cards and even for some secured credit cards. If you are applying for these types of credit cards, looking for a credit card offer with no application or registration fees makes sense.

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