This article from MSN Money is warning the readers of those sweet-sounding credit card offers, such as 0% interest for the life of a transferred balance. Their tips:
Clarify the deal. You may have to make a purchase every month, and if you do, your payments go towards the transferred balance first.
Be suspicious of the letter. Just because it says you’ve been pre-approved, it doesn’t mean that the rates and credit line advertised are what you’ll receive.
Watch your steps. Everyone lift your feet one at a time.
Be punctual. One late payment and the sweet 0% deal goes away. Sometimes they’ll charge you interest for the original balance even if you’ve made payments at 0% already.
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9:39 pm (reply)
Think about it this way…can a credit card company survive by making 0% loans?
Not on your life. Proceed w/ caution.
http://mynetworth.blogspot.com/2005/01/do-you-really-know-whats-in-your.html
9:37 am (reply)
Exactly. Teasers, bait-and-switch… make them customers first, then rape them when they’re not paying attention. “Good” business sense, when so many people don’t pay attention.