New Tactics
One Monday morning, after watching the advertisement on television about a 0% interest rate credit card, it wasn’t long before everyone started talking about it. Everyone thought they had jumped on the next big thing like they were as financially astute as Peter Sutherland. Some of the credit cards start with the so-called rope you in interest rate.This mainly means credit cards that offer no interest for even more than 12 months.
Enjoying an initial zero percent on a credit card can be a great deal but you’ll need to be cautious very cautious. One foul step and you can wave goodbye to the interest free period. Its a good idea to read the details of the deal. Is that interest-free introductory period for purchases or balance transfers or both. Do you realise when the initial offer will come to the end? What kind of interest rate will you pay then? If the offer seems too good to be true it probably is.
If your spending can quickly spiral out of control you need to be careful with this card you can follow your desire but only for a particular duration of time. Writing checks or making ATM purchases that total more than you have in your checking account can have grim consequences. As well as the embarrassment of collecting a bounced check from the merchant it was written to there are the high fees a bank charged when this occurs. To help avoid such problems, most banks have developed various Overdraft Protection programs. Such schemes such as the payments protection scheme are widely seen as a rip off.
Courtesy overdraft-protection plans often come as part of a checking account package. Recently there have been many high profile cases where people have claimed their PPC charges back.
