Mastercard with 1.9% interest, what is the catch?

Question

I have been offered a Mastercard with 1.9% interest for 1 year. What is the catch?

Answer 1

sounds good to me.

Answer 2

1

Answer 3

There is no catch. This is called an 'introductory' or 'teaser' rate. They're trying to entice you to make new charges (or transfer existing credit card balances) to their credit card in hopes of accumulating higher interest charges after the 'intro' is over. Of course, there are tons of 0% APR credit cards here:

http://www.asapcreditcard.com/0-apr.html

If you use these types of credit cards wisely, you can save alot of money on interest. Just don't make the mistake of overspending or creating too much debt with one of these offers. Eventually, the intro period will end and you'll have to pay for the money you borrowed!

Hope this helps. GOOD LUCK!

Answer 4

The catch is the interest will go sky high after the 1-year "honeymoon" period. I suggest you read the fine print.

Answer 5

Check out the company and watch for hidden fees like processing fees, annual fees, credit search fees . Some of these outfits charge 150.00 to your card for all these fees then when you don't want to pay them they cancel the card and hire a collection agency to come after you for the money. If it sounds to good to be true then it is too good to be true.

Answer 6

possibly a six month intro deal or if you are late once they will raise your interest rate to 20 % or more. at 20% every dollar you pay them 20 cent for interest 80 cents for product or service you received.

Answer 7

After the year is over you will pay a higher rate.

Answer 8

After one year the rate will be more than normal card or it may be that company wants to sell more cards. So it is offering.
To know more visit
http://creditcardbiz.blogspot.com
and
http://onlinepaymentoption.blogspot.com

Answer 9

if your credit is good then there is not catch..