2006-07-14 21:47:32 · 5 answers · asked by vik 1 in Business & Finance ➔ Credit
Believe me, no bank is giving you something that will not benefit them in the long run. Sometimes those perks may only be offered for a limited time and then in some months you begin to see interest on your bills. Sometimes they only offer those services to those who stay current on their bills and if you are late or over the limit they will slam you with up to 25% interest and late fees and overage charges. Read the fine print, not just what looks good. There may be no interest and no fees for purchases, but like a 19% on everything else,i.e. cash advances, transfers, etc
2006-07-15 03:10:56 · answer #1 · answered by Ilovechristjesustheking 3 · 1⤊ 0⤋
Credit card companies are banking on the averages. More often than not, these balances don't get paid on time and back interest is applied. Theses card offers should be used as tools to your advantage. Make sure you pay the balance off before the time limit expires.
2006-07-15 21:14:22 · answer #2 · answered by David H 3 · 0⤊ 0⤋
Read the fine print. Usually after a period of time the rules change. Also they may state if you are late on a payment a monthly interest charge will kick in, usually very high.
These cards can be good if they allow you to transfer a balance from another card & you very carefully watch your p's & q's as they make their money when you mess up.
2006-07-15 05:02:52 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Every time You purchase a product approximately 2% is being paid by the vendor to the bank.
They also Make money if you fail to pay the money on time.
The rate of intrest they charge towards credit card is more than any secured loan.
2006-07-15 07:55:42 · answer #4 · answered by john j 1 · 0⤊ 0⤋
The have setup fees, initiation fees, and transaction fees. Still getting charge, just calling it something different.
2006-07-15 07:41:14 · answer #5 · answered by dxle 4 · 0⤊ 0⤋