The Zero Percent Credit Card is a great way to save money on interest payments and reduce your monthly debt load.  Many credit cards charge very high rates of interest.  Some credit cards have rates as high as 29.99%!

Saving money is much easier with a zero percent credit card.  Fortunately, many companies and banks offer zero percent credit cards to new customers.  A term you should be familiar with is APR – this stands for annual percentage rate.  A zero percent credit card means that a card charges an APR of 0%.  You will be liable for all principal payments, but will not have to pay any interest.

The average American household pays approximately $700 per year in interest payments on their credit cards.  Many people can save money simply by switching to a zero percent credit card.

In today’s economy, finding a cheap credit card is more important than ever.  By “cheap credit card,” I mean a card with low fees in addition to a low APR, or annual percentage rate of interest charged.

Fortunately, there are many inexpensive credit cards out there, including several zero percent APR credit cards.  If you are willing to take the time to do some research and make a few phone calls, you should be able to find a zero percent credit card now!

American Express is famous for the rewards offered to its cardholders.  Some of these rewards are nice, such as advanced ticket purchases to the U.S. Open and other sporting events and concerts.  However, most American Express cardholders have to pay a substantial annual fee.  Even if a customer has a low rate of interest on their credit card, the annual fees can add up, particularly for people who charge less than $5,000 on their credit card every year.

My advice is to thoroughly and reasonably assess your spending habits first, and then decide which credit card is right for you.  If you charge more than $20,000 each year on your main credit card, then focus more on APR and interest rates than annual fees.  If you are a tennis fan, an American Express card could be the best choice for you.

There are many banks, companies, and organizations that offer credit cards.  I get an offer for a new credit card almost every day.  So which credit card companies are the best?

The answer is that it depends on your spending habits and existing credit card debt.  But a good place to start looking for the best credit card for you, and maybe even a zero percent credit card, is with the following large issuers of credit cards:

Bank of America- One of the largest banks in the United States started as a small operation in North Carolina.  Today, Bank of America has issued millions of credit cards.  As a diversified financial company, Bank of America has a variety of low interest credit cards.

Capital One – “What’s in your wallet?” is the familiar slogan for this large company.  Capital One is famous for offering relatively low interest rates and 0% APR on some transfer balances (terms and conditions may apply).

Visa – One of the largest and oldest issues of credit cards.  Visa literally has thousands of credit cards to choose from, each with its own rewards and interest rates.  I recommend looking into the variety of credit cards that Visa issues, as you are bound to be able to find a zero percent credit card.