Consumers with high credit scores have been able to take advantage of credit cards with a zero percent interest rate.
In an article for Go Banking Rates, Stacey Bumpus writes that despite the fact that some firms reduced these types of programs in the face of the financial crisis, many of the largest brands including American Express, Capital One and Citibank are all introducing programs that seek to lure those with high credit scores.
She also states while the credit card programs are desirable, some applicants are not eligible.
“It can be disappointing for individuals with lower scores to sign up for an offer — and take a ding on their credit reports — only to realize their creditworthiness was not high enough,” she writes. “So before signing on the dotted line, educate yourself on the company’s credit score requirements.”
Other programs have sought to attract a certain client base. In a recent announcement, Citgo Petroleum Corporation and Citi Retail Services teamed up to offer users the Citgo Rewards Card to be used at a credit card terminal in a number of places.Back To Blog