Low Interest Credit Card Cautions

Credit card companies are not altruistic in any way. I carry a balance with 0% interest. They sent me checks to buy items or to transfer other balances at 3.99%. On the surface this seems like a good deal but then I read a contract they provided. It states any payments received will be applied to the balance with the lowest interest rate first, after that is paid off, then the next highest interest rate has the payment applied. Whatever balance you have at 3.99% keeps getting larger with time because the interest is added each month. This will add up quickly to the credit company's favor. So be aware.


By Steve


Add your voice! Click below to comment. ThriftyFun is powered by your wisdom!

Related Content(article continues below)
Budget & Finance Credit CardsMarch 22, 2006
Shopping Online Without a Credit Card
Shopping Online Without a Credit Card
using a credit card
Credit Card Tips and Tricks
A couple renting a car.
Renting a Car Without a Credit Card
Credit Report on Table
Raising Your Credit Score
Easter Ideas!
St. Patrick's Ideas!
Ask a Question
Share a Post
© 1997-2017 by Cumuli, Inc. All Rights Reserved. Published by . Page generated on February 24, 2017 at 3:36:22 AM on in 3 seconds. Use of this web site constitutes acceptance of ThriftyFun's Disclaimer and Privacy Policy. If you have any problems or suggestions feel free to Contact Us.
Loading Something Awesome!