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Companies with Zero Percent Interest
By Cassandra_BHM | November 2, 2011
Everyone would love to receive a zero percent interest rate on their credit cards or loans. However, sometimes it is not that easy to find a company that will provide zero percent interest. If you pay special attention to promotional periods, you may be able to score with a company that offers this amazing rate. This rate allows you to pay off purchases without any extra fees or penalties.
There are a few companies that offer this low interest rate on their credit cards. You should keep in mind that a lot of these companies do not finance the credit cards themselves but instead go through a bank. The bank has the ultimate decision in determining if you are eligible for a zero percent interest rate on purchases or not. Some banks will provide their applicants with credit but not at the low rate of 0%. You may be eligible for a credit card or loan through one of the companies mentioned below but you may have a larger interest rate.
Zero Percent interest at Lowe’s
Lowe’s is one of Canada’s most popular DIY stores. This company helps individuals purchase supplies to help build homes and businesses. Individuals and companies can benefit from purchasing their supplies with a Lowe’s credit card, but how? Companies can purchase material they need for a large project and not pay a huge amount of interest on their supplies.
Individuals can benefit in the same manner from purchasing supplies through a company like Lowe’s. Lowe’s only runs certain promotional interest rates from time to time for Canadians, so pay special attention for these deals.
Other Stores Offering Zero Percent Interest in Canada
Lowe’s is not the only store that offers zero percent interest to their customers in Canada. Many stores like the Home Depot and Wal-Mart both offer promotional rates of zero percent interest. As a consumer, you should pay special attention to these promotions because they typically end at certain points. This means that the promotion is only meant to last for a few months. Your goal as a consumer should be to pay these credit cards or loans off as quickly as possible.
Wal-Mart
Wal-Mart provides their customers will two different options for store credit cards. These cards are bound to have really high interest rates. However, you can beat these interest rates if you pay off the loan in the allotted time. Wal-Mart requests that you pay off the loan before the next payment cycle and no interest will be applied. So initially, you have thirty days to pay off a credit card from Wal-Mart and receive a zero percent interest on your store credit card.
What if I do not have perfect credit?
Very few people honestly qualify for zero percent interest rates all of the time. However, there are some people who have to deal with larger interest rates because they have bad credit. Bad credit does not last forever and you will soon be qualifying for zero percent interest rates as well. Not all companies can or will provide their customers with zero percent interest, even if the customer has perfect credit. These rates are determined by the bank and whether or not the actual company chooses to comply with the promotion from the bank.
Personal Experience
As a mother with young children, there has been several times that I have had to use a store credit card to purchase something. The zero percent interest rate really helps keep the cost low and it is also a great reason to work hard and pay off my merchandise early. No one can prepare for having to use a store credit card but zero percent interest is a nice incentive.
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