Capital One’s latest credit card offering 0% on balance transfers until January 2007 seems to have caught the interest of a lot of people (at least if my website visitor statistics are anything to go by), and 0% credit cards certainly have their uses, if used in the right way.
Cliff D’Arcy at The Motley Fool has posted 5 0% card pitfalls in Beware of these 0% card traps.
Here’s a list of the things to look out for, read the article for a full explanation:
- Balance-transfer fees
- Payment protection insurance
- Spending on a balance transfer card
- Fines for late payment
- Watch out when your 0% deal ends!