Zero Interest Balance Transfer

When looking for a Zero Interest Balance Transfer Credit Card there are some pitfalls to avoid.

Hidden fees- Some credit cards charge a 1%-4% balance transfer fee. I can not stress how important it is to read the “Terms of Service” at the bottom of the credit card application.

Bait & Switch- Just because you applied for a Zero Interest balance transfer card does not mean that is what you got. Be carefull to read the credit card agreement carefully before using it to doa balance transfer. They may have given you only 3 months at zero percent instead of the 6 months you were hoping to get.

Tricky Terms- Be sure that  the Zero Interest on a credit card offer refers to balance transfers and not new purchases.

Lastly, I should point out that most credit cards will null and void a zero balance transfer offer, with a single late payment. It is of utmost importance to be sure to pay the bill on time every time. If you are late on a second payment your interest could jack up to 30% or more.

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