Thursday, January 29, 2009

Watch Out For This Balance Transfer Trap

Creditors state that a promotional interest rate will expire in a given month...only to hike it up on the very fist day of that month. This leaves end of the month bill payers stuck with a bigger balance.

To avoid this pitfall, ask customer service to confirm the exact day the promotional rate expires.

Source: Liz Pulliam Weston, author, Easy Money

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