In an attempt to gain customers in a highly competitive market, credit card companies are offering 0% credit card offers for balance transfers and sometimes purchases for a specified time. This can be a great deal if you plan on paying the card off before the 0% ends, and make your payments on time. For many of the offers you can apply online and get instant credit card applications approvals within minutes. There are some terms that you need to be aware of before submitting your application and it is always advisable to know the specific terms. If you miss one payment, most will default your interest rate to 19% or higher, plus accrued interest on the unpaid balance. OUCH!They can also change your rate if your credit rating changes after you have been approved which can be tricky over the course of a year or two. This is why there could be a potential credit card crackdown as the government is looking to provide consumers with better protection so that they do not get caught off guard. This could also make getting a 0% interest offer even more difficult. Since one small mistake could result in a huge penalty on your interest rate.

Research has shown that the more unique the card the longer the card user is to hold on to it. Case in point is the AMEX Blue transparent card. I carry one and the unique transparent card is unique and does get attention. I have held onto my card for over 5 years. Next will be cards that act as more than a credit card. I waiting for the day someone brings out the MP3/credit card. So you can listen to your favorite tunes while charging that next pair of jeans.