Bank Credit Cards
Beware Of These 0% Card Tricks!
Since the advent of 0% balance transfer on cards, millions of people have taken advantage of enjoying borrowing money at 0% for an extended period. How it works is that you transfer an existing credit card balance across to a new card and enjoy 0% interest on it for a set period of time.
This is certainly more attractive than paying a typical 16% interest. However, like all good things that appear to be free, do be aware of catches.
Many lenders now will charge you a handling or admin fee for the balance transfer. This can be around 2 or 3% of the value of each transfer. Do check out with the individual credit card provider as to how much they charge as these fees do vary.
Recent research from Marks & Spencer Money showed how in some cases, people who make use of 0% deals are worse off than if they kept the debt on their existing card! So do your sums first to see if it really is worthwhile transferring your balance.
Finally, check whether the credit card provider charges interest on the actual balance transfer fee. You’d be surprised how many do in a bid to make some money back out of you.
| UK Credit Cards Companys : credit cards lenders ... for the apr is based on the average daily balance that includes any new buys ... it is possible to pay almost any bill online or even set up automatic payments where the account holder Credit Cards Poor Credit : pre paid credit cards ... service has a cost and you’ll have to pay it the following month so ensure that the fee for such a service ... accumulated 24,000 value miles, you've earned an airline ticket to any location in the continental united Credit Cards Rates : pre paid credit card ... low interest credit card wisely and it can save you hundreds or thousands of dollars each year ... option for credit card rebates, of course, is to look for a card that pays you for all your purchases |