Introductory rate loans and credit cards
We think we have finally found the right credit card with the lowest rates and so many rewards. Wait, are you sure this is exactly how it works or are you like all of the other credit card holder who have been scammed by those introductory rates? I guess the good thing is that you are not alone and should not feel defeated in anyway. We all fall victim to the attractive offers that these creditors have to offer. Our minds are programmed to believe what we see and we should but always with limitations. When we are in the grocery store and see that something is $2.99 that is what we see that it is under $3.00 we do not see that it is actually $3.00. In some ways the same applies when we run into those attractive offers that we think are beneficial.
It is usually the low interest rates that lure us in but the fine print states that they can raise these rates at any time and they will do this usually within the first few months. If one has an outstanding balance when this happens they will then have fees applied as well. It is imperative that you read all of the details before applying. It is never a good idea to apply for a credit card online because you may not get the entire picture. Introductory offers are a serious marketing gimmick that fools the best of us but being as cautious as you when applying will help. These offers will usually state that your interest rates are safe and steady, but then you hit that bump in the road. An unexpected problem and you missed your payment. They do not care if it was a computer glitch because this is exactly want they are banking on (no pun intended) they are now able to turn the entire agreement upside down. They will up your interest rates and minimum payments with a whole other slew of new rules that you must follow because you are now locked in.
It is always wise to use cash instead of credit but not always realistic. If you are looking to apply for a credit card it is important to decipher every bit of the agreement. Make sure to look past the attractive offers and have a list of question for the assistant on the other end of the phone. This is your right and the best way to approach any type of financial move before signing up. Realistically we know that the creditors are out to make money, but we don’t want to go broke in the process. Once you have gotten the credit card of your dreams be sure to keep the limit done and pay the minimum payments on time. The most ideal way to own a credit card is to only use it for emergency purposes.