To many consumers, obtaining a credit card with a low interest rate is the number one priority. This may not be the case with those who pay their balance off at the end of each month, but this incorporates a surprisingly small percentage of the population. For the rest, low interest rates are the way to go, and they don’t get much lower than 0%. As it happens, there are many great credit cards out there that offer just that, for an introductory time period that is. Still, the wise consumer can take advantage of this limited time period and use the purchasing power it gives them to their advantage. With that in mind, let’s take a look at some of the more prominent credit cards that offer no interest for an introductory time frame.

Chase Freedom Visa Card

With up to six months without interest on all purchases and balance transfers, the Chase Freedom Visa Card is an excellent choice for anyone looking for the best in an introductory no interest credit card. In addition to the excellent introductory offer, the APR following that period is a reasonable (if not entirely noteworthy) 14.24%. They offer a plan for cash back on purchases made in grocery stores, gas stations, and fast food restaurants, as well as a lesser amount of cash back for all purchases made anywhere. They also promise $50 once the consumer has earned that amount in rewards, making the enticement doubly interesting.

Bank of America Visa Signature WorldPoints Rewards

The Bank of America Visa Signature WorldPoints Rewards card offers zero interest on all balance transfers for the first twelve billing cycles (with billing cycles done on a monthly basis). This offer may not be for those who want zero interest on their purchases or cash advances, but can be attractive if balance transfers are your main priority. It also excels in its offer of a low 9.99% APR on all purchases, which is a fairly attractive rate, and a good deal for those with an excellent credit history. The World Points program works to give the consumer points for ever dollar spent on retail purchases. These points can then be redeemed for cash, merchandise, travel, and more. There are no annual fees, and there exists a fairly wide program of discounts available through select merchants.

GM Flexible Earnings Card

The GM Flexible Earnings Card offers the same introductory rate of 0%, but this is only for balance transfers. Still, an excellent option and enticing incentive for those with high balances on other credit cards they wish to get rid of. It offers a middle of the road 14.24 % APR on all purchases, and a full 1% cash back option, as well as earnings toward a new vehicle. There is no annual fee.

Are you in need of guaranteed online personal loans? These are also known as payday loans or cash advances. These are usually loans that are offered to people that need a quick fix. Some people call these band aid loans because they are only meant to be used for a short amount of time. These loan come in amounts from $100 up to about $1,500 and are supposed to be used for emergencies.

You do need to be educated on the facts about guaranteed online personal loans and how to avoid the possibility of a scam.

First, know that these loans are going to have a higher interest rate than normal and you are going to be paying them off within 30 days. This is a short term loan and has to be treated that way or you will end up paying huge fees for being late and a lot of interest that you can avoid.

Second, you need to make sure you do your research. There are plenty of scams out there that are very good at getting your personal information and giving you nothing in return so you need to make sure you are careful. If the website does not have a customer service line, then you need to move onto the next loan company.

Also, if all you can find it a P.O. Box for an address, then cross that company off your list and move on. You should also check the company against the better business bureau to see if there are any complaints against them. The last thing to do is look for references on their website of past customers. This is a good sign that they are legit and will help you.

Last, you need to make sure you only borrow what you absolutely need. You will probably qualify for more than you need, but you do not have to borrow it all. The more you borrow the harder it will be to pay back so if you only need $300 don’t borrow $500.

If you need guaranteed online personal loans, then you need to make sure you get the right loan without being scammed. These can be great loans if you treat them as short term loan and do not get sucked into living off of them. Treat them right and they will take care of your crisis.

Close to 80% of American families carry credit cards and 44% have a balance. Americans have been paying close to $15 billion in credit card penalty fees annually. President Obama has said no more to unfair rate hikes and undisclosed fees as he signed into law the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009. The new credit card laws are now in effect.

1. No more universal defaults. What is universal default? Universal default is the practice of raising interest rates on cardholders based on their payment records with other credit issuers. In other words, if you paid your utility bill late, your credit card company could raise your interest rate but no more.

2. Under these new laws any payments over the minimum due must go toward the purchases with the highest interest rates. For example, some consumers have accounts that offer different services for different products such as ATM withdrawals, cash advances, regular purchases or balance transfers. In the past, credit card issuers have been applying payments to the lowest interest rate products first.

3. Consumers also have an option to avoid over the limit fees. Consumers can “opt” to have the option and pay the fee or “opt out” and have the transactions rejected and avoid the over the limit fees.

4. Users will avoid retroactive rate increasing on existing balances and there will be limited interest rate hikes allowed, including when a promotional rate ends, there is a variable rate or if the cardholder makes a late payment.

5. Interest rates on new transactions can increase only after a year.

6. Significant changes in terms require 45 days notice instead of the industry practice of 15 days notice. If consumers don’t agree to the new rate, they can cancel the card and pay it off at the existing rate.

7. Consumers will get more time to pay credit card bills with a reasonable amount of time being considered at least 21 days after the bills are mailed. Consumers who complained about due dates changing or being moved up and increasing the likelihood of late fees have been heard.

8. One trick credit card issuers have used in the past is to have an early morning due time on the due date. Under the new law, a due time earlier than 5:00 will be illegal. Payments due on weekends or holidays would not incur late fees.

9. Double cycle billing will be a thing of the passed. Charges on outstanding balances would be calculated based on purchases made in the current cycle rather than going back to the previous billing cycle to calculate interest charges. The double cycle, or two-cycle billing penalizes consumers who pay off their balances, because they are hit with finance charges from the previous cycle even though they have paid the bill in full.

10. Consumers who get subprime credit cards and are charged account-opening fees that use up their available balances would get some protection under these new card laws. These upfront fees cannot exceed 25 % of the available credit limit in the first year of the card.

Cheers and Jeers:

Consumers advocates have been all for it. Credit card issuers and credit industry analyst say the new laws will end up making credit cards more costly to consumers and less accessible for low-income families. They’ve argued that at a time when the country needs Americans to spend more to stimulate the economy that credit cards will be used less.

Credit card companies and credit card issuing banks, including American Express Company and Citigroup Inc., are already making changes to counter the new laws in their favor. Credit card companies are raising interest rates and fees across the board and have already started mailing warnings to consumers about fee and interest rate increases.

More To Come:

These new credit card law changes represent just a part of the Credit Card Accountability, Responsibility and Disclosure Act of 2009. More changes will be coming into effect in 2010.

President Obama shared, “With this new law, consumers will have the strong and reliable protections they deserve. We will continue to press for reform that is built on transparency, accountability, and mutual responsibility – values fundamental to the new foundation we seek to build for our economy.”