0% Apr Offers Are Not As Good As They Seem
Credit card companies are getting out of their ways to be ahead of the competition. A lot of incentives which are truly enticing are being offered. With this stiff competition going on, better deals are available for consumers. However, you should still give it careful thought and consideration before committing to one credit card.
The annual percent rate or APR is the most widely used in credit card marketing strategies. Essentially, APR determines how much interest a credit card user needs to pay given a certain principal amount. The lower the APR, the better the deal is. Some companies may even offer 0% APR which means that borrowers only need to pay for the amount they actually borrowed.
This is definitely too good to be true. Banks are not charitable institutions but are for-profit organizations. They would definitely compensate for loss profits brought about by 0% APR in some other ways.
Usually these ways are hidden behind the fine print. Without reading and fully understanding every terms and conditions associated with signing up for a 0% APR credit card, a customer might get into financial trouble....
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