No Interest Credit Cards No Interest Credit Cards, who wouldn't want one? This would solve many financial problems. Wouldn't be good to have a 0 interest credit card – you can borrow and you don't have to pay any interest back to the lender. I'm sure most of you have received at least one offer for no interest credit card or low fee credit card. These kind of cards have many names, and according to Google, the searches for the magical “no interest credit card” are surging. People call them “0 credit cards”, “no interest credit cards”, “0 interest cards” and many other variations, but what they really looking is credit cards with no interest. Does 0% credit card sound too good to be true? The answer is yes and no, at the same time. The truth is that credit cards with 0% interest exist, but there is a catch. In fact there might be more than one catch :). If you get an offer for a no interest credit card or for low interest credit card, the first thing to check is when does the introductory period end. That's right the 0% interest rate will apply for a limited time only (usually 6 months). What this means is that after the initial introductory interest rate, you will be charged a regular interest rate, and if you carry balance on your credit cards this is no fun. Another important think to check is what exactly will be the interest rate of the card after the grace interest period. Some of these 0 interest cards, charge really high interest fees after the introductory period ends, which can quickly balloon your debt. Before getting a no interest credit card, check the fine print, which specifies what happens if you are late with your credit card payments or if you max out your credit card. Some credit card issuers will end the introductory interest rate if you go over the credit limit or if you have even a single payment late. Of course check if this fancy “0 credit card” have any additional fees – application fees, yearly fees, etc. Another thing to consider is that the 0 interest rate that the card advertises might be applicable only for certain transactions. So again, just read the fine print, and decide if it's worth getting a no interest credit card.