An Account On The Zero Percent Transfer Credit Card

Zero percent transfer credit card, credit cardA 0% transfer credit card is a boon to users because they save you money as you can transfer all your existing debts to one account. There are loads of banks offering the plastic money to their clients. It not only helps them to attract more consumers but start earning revenues for them after the introductory period.

Actually the introductory period lasts for 6-9 months within which period the bank charges no interest. But as soon as the introductory period expires, the bank would start charging interest at the prevailing rates on whatever balance, the card stands on. While the policy differs with every card, sometimes the bank agreed to charge a pre-fixed rate of interest, so keeping a track of all debts become easy. But they tend to attract heavy penalties with repayment break.

Some annual benefits are offered but they tend to exit if penalties are charged. The rates of interest are quite high compared to the existing ones. Actually you are just buying some more time in repaying the debt. The more you flash your card, the more debt burden gets on your back.

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