What's the catch?

[buffness]

I recive credit cards all the type, telling me I have 0% apr till next year, fallowed by a 6.99% fixed apr. That alone sounds great! But what is the catch? I know the 0% APR applies to balances tranfers, but still seems like a really good deal. I dont' think I'm the only one that gets these, what's the catch?

 

[goes4ever]

nothing really, just a low intro rate, it will raise if you are late one time on payments

 

[buffness]

hmm, I think it's worth a shot then. I owe about 2g's from school..

 

[Bellina]

There's no catch. Unless you consider if you pay late then your APR will shoot up to 21%, but if you pay ontime it's all good.

 

[cylo]

There's no catch. Unless you consider if you pay late then your APR will shoot up to 21%, but if you pay ontime it's all good.

which they prob plan on u being late so they can do it....

i keep throwin 'em out 2....mayb ill take a better look next time

 

[Stout1]

I recive credit cards all the type, telling me I have 0% apr till next year, fallowed by a 6.99% fixed apr. That alone sounds great! But what is the catch? I know the 0% APR applies to balances tranfers, but still seems like a really good deal. I dont' think I'm the only one that gets these, what's the catch?

Make sure you read the fine print. LITERALLY. They try to trick you. It may be 6.99 fixed apr. But for how long? Sometimes its just the following few months or somethig like that. I always throw em away cuz I hate opening new credit cards to transfer your balance cuz it runs your credit again. If you do this too much it hurts your credit score, not helps it. If you do it once you should be fine though.

 

[buffness]

yea, should be the first and the last time I do it. I would have payed it off a long time ago if it wasn't for my high as interest..