A personal finance blog dedicated discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance.


Thursday, May 19, 2005

Credit Card Teaser Rates

You see them all the time: credit cards with 0% interest rates on balance transfers. One thing you have to look out for is that some of these cards come with strings attached. For instance, on some of these cards, you must make a certain number of monthly purchases (at much higher rates). Because of the way the cards are set up, the monthly purchases do not get paid off until the transferred balance is paid off. So, what you thought was a 0% interest rate is really much higher.

Terri Cullen over at the Wall Street Journal has written a very good article on credit cards, which is worth reading. Be sure and scroll all the way down and look at the tables.

Tags: ,