Launched in 2012 in France, the ZERO card is a Gold Mastercard credit card marketed by the Luxembourg bank Advanzia Bank founded in 2005. Knowing a nice success in Europe, this card draws its originality from the fact that it allows to pay for its purchases in deferred or through a revolving credit. Other advantages: the ZERO card is obtained free of charge without changing banks, and does not incur any costs for purchases (including abroad), except for traditional charges due to the use of credit.
The principle of this card ZERO is therefore to leave the choice to the holder, when receiving the invoice (sent by e-mail around the 15th of each month), to settle totally without expenses his purchases made with the card, or finance them by revolving credit. If he decides to pay the amount of his invoice before the due date, no interest is required. But if settlement occurs after the due date, the cardholder will then be charged interest from the day of purchase until the date of repayment. The monthly rates used are 1.53% for any credit used less than or equal to 3 000 €, 1.02% for a borrowed amount of between 3 000 and 6 000 €, and 0.53% for a higher amount. at 6,000 €. But beware, these are very high rates, close to the rates of wear in force in France, which are the maximum rates set by the Bank of France to prevent abuse by credit institutions.
Very accessible (no cost of entry or shipping) and convenient for the consumer (it gives in particular the right to many guarantees of insurance and assistance in case of concern, even abroad), ZERO card can, however, lead to debt problems if the holder takes the habit of exceeding the due date too much to pay his or her repayments. This card is nevertheless not granted to all: the files of borrowers not having enough guarantees for refunds are refused, and that the most financially fragile applicants do not have access to a very substantial credit reserve (approximately a few hundred euros).
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