In many countries, including the United States, it is indeed possible to get credit cards with a 0% Annual Percentage Rate (APR) for a promotional period, which can range from a few months to over a year. This means that you won't be charged any interest on your balances during that time. However, it's important to note that this rate usually applies to purchases and balance transfers, and not cash advances. Also, once the promotional period ends, the APR will increase to a higher, standard rate.
As for India, while there may not be credit cards that offer a 0% APR, there are certainly low-interest credit cards available. These cards charge lower interest on the outstanding balance than other credit cards. Most of the credit cards generally have an interest rate of around 3% to 3.5% per month. But, some of the credit cards in the market charge interest of as low as 0.75% to 2% per month.
Regarding your question about using American credit cards in India, it's possible but there are a few things to consider. First, not all American credit cards are accepted in India. Visa and Mastercard are the most commonly accepted cards in India. Second, while some American credit cards do not charge foreign transaction fees, others may charge a fee of 2% to 3% per transaction. So, it's important to check with the card issuer about any potential fees before using an American credit card in India.
Please note that while credit cards can provide financial flexibility, they should be used responsibly. It's always important to understand the terms and conditions of your credit card, including interest rates and fees, to avoid any financial pitfalls.
