|
Wednesday, 14 January 2009 |
By Ted Hamilton
 One thing some credit cards offer is a low introductory interest rate. For the first six to twelve months, the cardholder will be charged very low interest. Depending on the card, the holder might not be charged any interest at all during this time period.
After a certain period of time, the card then goes to a normal rate where the holder will be charged a higher interest. The rate is set by whatever credit card company that you went through, and the new rate would have been given to you before hand, so there won't be any surprises.
A good example of how a low interest card can help is what happened with my friend Corey. He had a good paying job, was debt free and the only one of our friends to have his own place straight out of high school. However, several house parties and a couple lonely nights later, the beer and phone calls had run his credit card bills so high that he could no longer pay it off every month. To help give him some breathing room |
|
Last Updated ( Wednesday, 14 January 2009 )
|
|
Read more...
|
