Credit card interest free periods may not be all they appear
Posted on 10. May, 2006 by Cashzilla in credit cards
Those pesky credit card companies which are offering longer and longer interest free periods in order to attract new customers have started new methods to get back the money they lose due to rate tarts. Some months ago most of the card companies started introducing a transfer fee of aroung 2% payable on the amount of the balance transferred, but until recently they had capped the maximum amount that it was possible to have to pay at around £50. Now however, in many cases, they are edging this max limit up, and in a few cases getting rid of it altogether. While it is still worthwhile changing your card, you now need to take a close look at exactly what you will get charged, and not just the length of the 0% deal.
Related personalfinanosaurus posts:
CreditAnalyzer
Aug 2nd, 2007
Those cards with very favourable conditions during the intro period can turn out to be pretty costly because all the fees that kick in after the intro period is over.
rachat credit
Sep 25th, 2007
I agree completely with creditanalyser because this opinion is right.
Credit Card Analyst
Jan 4th, 2008
Credit Cards interest rates are not always the one that they say. Most of the people annoying of the 0% interest rate. They say 0% interest and no interest for a annum, but they charge much later.