13 • Are credit card bonus offers
Beneficial to my Financial Plan.?
No! All credit cards are just Debt Cards. If you are being enticed to spend on credit you can rest assured there is serious money going to be taken from your pocket to pay for such benefits.
The Real Cost of 0% Interest Credit Card
1. The Real Cost of 0% Interest Credit Card Offers
- Credit card with 0% interest rate is enough to capture people's interest.
- Some of them might even sign up for the credit card program right there and then.
- Beware of not taking a close look at the REGULAR RATE AND FEES.
2. Is taking this too good to be true offer a smart decision? Not at all!
3. Truth is we caution our readers not to apply for additional credit on impulse.
We advise you to carefully consider the following factors, before making up your mind . . .
4. 0% rate is only applied to one transaction
- Some cards offer 0% APR on balances transferred but an expensive rate on new purchases.
- As a result, you might incur an even bigger debt due every time you use your zero-rate card for shopping.
- There are those who apply for a 0% balance transfer card, without actually using it for consolidating balances.
- They might think that the zero rate is applicable to new purchases when in fact, it is a different rate altogether.
5. Check out the complete terms and conditions
- How much will the regular APR cost you when the introductory period ends?
- Are there restrictions that you should be aware of?
- What happens if you miss a due date of payment?
- Will you be penalized with the regular rate plus the late fee?
6. Remember that Nothing in this life is given away for free.
When creditors are giving you 0% interest, or redeemable points, or cash back offers, there is a hidden way that they are going to take far bigger profits out of your pockets, than the gift they put in your hand.
When you Understand Credit, You will have Great Credit!