Credit card reform may be on the way, but it isn't all good news. If you're like most people, you probably get a lot of credit card offers in the mail. Many of these offers provide some attractive low interest rates, balance transfers, or reward programs. While it can be tempting to take advantage of some of these offers, you have to be careful. These offers are usually short-lived and can be even more costly than you think.
Whether it is a teaser rate or hidden fees on balance transfers, you want to read all of the fine print before taking advantage of any credit card. Some promotions are legitimately worthwhile, but there is usually more to it than the big 0% they are promoting on the form. Learn how to spot these hidden fees and how to avoid them.
I’ve a good bit of money by falling for these teaser rates. Then I started marking their expiry on my calender, and that helped out. These rates are sometimes a really good way to save some money, just so long as one remembers the expiry date, and makes timely payments. but with balance transfers, one needs to make a calculation if the 3% fee makes the transfer worth it, in spite of the lower rate.
The first sentence in the above comment must have said “I’ve lost a good bit of money by falling for these teaser rates.” Apologize for the typo.