Hidden Costs in 0% Credit Cards. Watch out for hidden fees. The Consumer Financial Protection Bureau (CFPB) says some credit card companies are luring consumers with 0 percent or low-interest offers for specific purchases or balance transfers, then hitting them with surprise interest charges.
When you get offers for balance transfers, deferred-interest offers or convenience checks, read the fine print carefully. Hidden Costs in 0% Credit Cards.
You may find that while you don’t pay a fee for the balance transfer or purchase, you could accrue other charges.
If you accept a special offer, some credit card companies will start charging you interest on all your new purchases. That means you lose the interest-free “grace period” you enjoy when you pay off your balance by the due date each month.
“The only way for these consumers to avoid interest charges on new purchases made with this credit card is to pay off their whole statement balance, including the promotional balance and the new purchases, by their monthly billing due date,” CFPB officials explained.
More Credit Card Tips From CFPB
Avoid The Interest
If you carry a balance, you can still take advantage of promotional rates and avoid unexpected interest by not making new purchases with the card until you pay off the entire balance.
Make Payments On Time
If you make payments late, your interest rate may rise.
Shop For The Best Rate
Carrying a balance on all your credit cards? Compare the interest rates among your cards to find the best deal for new purchases. Hidden Costs in 0% Credit Cards
Need help getting your credit in order? Let me know and I’ll refer you to a loan officer who can take a look at where you are and make recommendations for improving your credit score. This
process may be at no extra charge to you if you are ready to buy
your next home.
About Deborah Laemmerhirt
Let me assist you in finding everything you need to know about buying or selling a home! As the preeminent real estate professional in my community, I am dedicated to providing the finest service available while breaking new ground.
Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game.
I go the extra mile to help you achieve your goals. That’s why I constantly research the home, market and estate values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative marketing techniques to attract potential buyers.
As an Internet-savvy real estate representative in Connecticut, I’ve had the opportunity to help many home buyers find their ideal homes and many sellers obtain top dollar for their homes. Buying or selling a home is one of the largest financial transactions that most people ever undertake, so I will help you through every step of the process. My goal is to make your home selling or buying experience as easy and enjoyable as possible.
My services include:
Explaining the home selling and buying process thoroughly
Diligently selecting homes that meets your criteria
Pricing your home correctly and implementing a unique yet proven marketing plan
Negotiating on your behalf
Tracking the closing process to ensure a smooth transaction
I welcome the opportunity to address any questions you might have about buying, selling or current market conditions. Please call or e-mail me any time, and I will be happy to discuss your next steps in the buying or selling process.
I specialize in both Residential and Commercial Properties.
I also head a Real Estate Group to provide you with expert service and support.
Areas of Expertise
Making transitions in your life is challenging. You may be moving from out of town, a different state, internationally or just next door! Regardless of the distance I am prepared to respond to your unique needs.If you are a BUYER looking to downsize, up-size, want a new construction, desire a condominium, to invest, even if this is your first home, I will design a unique plan to fulfill your needs in a reasonable time frame, with the best negotiated price and the least amount of inconvenience.For my Home Sellers, I have an innovative marketing plan that will leave nothing to chance. Just call, and I would be happy to share the DIFFERENT and SUCCESSFUL TOOLS I utilize on each of my listings.
I have lived in Connecticut for over 35 years. I practice Real Estate in Fairfield County, New Haven County and Litchfield County. This includes, but is not limited to Bethel, Bridgewater, Brookfield, Danbury, Harwinton, Kent, Litchfield, New Fairfield, New Milford, Newtown, Oxford, Ridgefield, Redding, Roxbury, Sherman, Southbury, Warren, Washington, Westport and Wilton.
