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The Truth About Avoiding Scams
book

The Truth About Avoiding Scams

by Steve Weisman
January 2008
Beginner to intermediate
224 pages
3h 16m
English
Pearson
Content preview from The Truth About Avoiding Scams

Chapter 38. More credit card offers

Credit card balance transfers

Many banks encourage you to transfer your outstanding balances from other credit cards to a new credit card that they issue you. By doing this, you’re promised that you’ll be able to pay off your outstanding credit card balance at a low or even zero percent interest rate.

But if the bank issuing the new credit card is charging you no interest on the amount you’re transferring, they must be looking to make a profit on your business somewhere else. Generally, if the bank is offering you a zero percent interest rate on the balance of your previous credit card that you’re transferring to the new credit card, they will be charging you a profit-making interest on new purchases you make ...

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Publisher Resources

ISBN: 9780768681871Purchase book