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The credit card debt game can sting you easily
January 21st, 2010 by admin
If you are in credit card debt, you will be very tempted to search online for zero percent credit cards in the hopes that you can roll over your debt from one back to another. This debt and credit game is well known. And given that the banks know what you are up to, why do they offer these teaser percentage rates (including zero) on which they will make no money?
Well, the banks know that people searching for zero percent credit cards are also likely to not follow-through very well. These same people already have a balance on another credit card and are looking to move it to another bank. It is actually scary how much these credit card companies know about you. They are quite sure that some percentage of you will move your debt to the low introductory interest rate and then forget to move it again before the rate goes up or other fees kick in. Don’t be one of those suckers. If you play this game, play it well and stay on top of your financial situation.