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mall print! The 0% APR credit card companies thus usually announce in large and
bold print about their 0% APR but hide the facts that this is only for a limited
period of time and any extra fees which might be included are done so in very f
ine print.
Another trick that is up the sleeve of 0% APR credit card companies is to instal
l sky-high APR s right after the amount of 0% APR balance transfers are paid down.
In other words, the money you first pay to the credit card company is applied t
o the transfer, and any other purchases you make will be charged a high APR. Som
etimes, credit card companies may also go to the extent of sending you a differe
nt card than the 0% APR credit card you had initially applied for. In this way,
you are not allowed the 0% APR but a different card offer with different terms
and conditions. The card issuers typically rationalize this behavior based on th
e card issuer determining that you do not meet the qualifications for a 0% APR c
redit card. Qualifications for a 0% APR credit card is usually found in the smal
l print of the agreement, and is usually overseen by applicants!
It can thus be seen that though 0% APR credit cards do seem to be rather invitin
g, there are some loopholes and tricks to their use. As always, it is highly rec
ommended to read the terms and conditions on the card application agreement for
the 0% APR credit card, or any type of credit card application, thoroughly in or
der to avoid any future problems, headaches or financial surprises.