Are Credit Card companies starting to feel pinch? We all know that Credit Card companies make their money by charging us interest on money we borrow. With all 0% balance transfer offers that we have seen over last few years its no wonder these companies are concerned they aren’t making any money. Many customers who take advantage of these offers move once 0% period has expired.These credit card companies are now using smart tactics to grab back a chunk of money that they have lost through these deals. One of ways they are doing this is by reducing interest free period, meaning you have less time to pay balance off. If you don’t pay it off by time your 0% period ends you are charged interest backdated to when you made balance transfer.
If you do find yourself in this predicament and you decide to transfer outstanding balance to another 0% credit card you will unfortunately now be charged a fee for making transfer by Credit Card Company you had original offer with.
These are all tactics that are now being used to make sure Credit Card Companies make some money off of you.
Here are some points that may help you to beat new rules that are being implemented plus other ways to save on your Credit Card fees:
•The most obvious advice that can be given is to be disciplined and try to pay off full balance off every month. •If you fall in remaining 85% of us that are not able to do this then you should opt for a Credit Card that has a low transfer rate which stays low no matter how long it take to pay off balance.