Beware of high interest rates
banking service chronicle monthly magazine by bsc academy-subscribe it may seem like credit cards actually lose money by investing in a 0% apr credit card promotion. however, the 0% apr credit cards actually help credit card companies find customers. for example, if there is a shopper that has a high apr (some are up to 20%) and he or she is having a hard time paying down the balance of the credit card, the purchaser is in an ideal situation to transfer their balance to a 0% apr credit card for a period in which they can focus on working down their debt. the situation is ideal for someone who is in short-term debt. however, to balance the 0% apr credit cards against the credit card companys need to make a profit, as soon as a trial period expires, many credit card companies will increase their rates drastically. as a consumer, you need to read the fine print so that you are aware of the deadlines associated with this change-over banking service chronicle monthly magazine.
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