Sweet Credit Card Deals

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.

Rating: 0.0/5 (0 votes cast)

Email this article

About the Author

Flexo, the owner and creator of Consumerism Commentary, has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow him on Twitter.

If you enjoyed this article, get the free RSS feed or get daily emails.

Join the free Consumerism Commentary newsletter. Enter your email address here to receive weekly emails with behind-the-scenes information, exclusive giveaways, and money tips.

Related Entries on Consumerism Commentary

This Week in the Archives: This year I'm looking back by linking to some of...
This Month in the Archives: Life Without Debt, Better Sex, and Bank Robbers: If you're new to Consumerism Commentary, these articles from the...
What Size Bonus Would Convince You to Sign Up for a Credit Card?: As a number of Consumerism Commentary visitors have mentioned over...
Balance Transfer Fees on Chase Credit Cards: Credit cards simply are no longer offering the enticing deals...
Today was “Cyber Monday.” Did You Spend?: The marketing gods have dubbed the Monday after Thanksgiving "Cyber...

Dean B

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

Flexo

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.

Robert: They need to combine the best of both worlds. Mint is great about tracking simple checking and savings accounts, but it doesn't have the... on Quicken Online Users Will Be Migrated to Mint

mary ann: we are building a beach house on the land we have owned for 16 yrs.it will be complete around the end of nov/beginning of... on How to Claim the $8,000 Home Buyer Tax Credit of 2009

Valerie: I don't know why Flexo expects changes to be better after the Mint takeover. Mint got itself going with younger users who had never... on Quicken Online Users Will Be Migrated to Mint

Flexo: You are quite right, it looks like they're closing off the bank to new applicants. I'll update the post. on Opening an SFGI Direct Savings Account Earning 2.25% APY (Updated)