We all have received them from time to time. Those irresistible credit card offers that urge us to transfer balances, offer us bonus points or even free airline tickets. As this article in US News – Money points out, there are several offers to watch out for and avoid. Although some of these offers do provide you with a low or 0% introductory rate, you as a consumer really needs to read the fine print.
What these offers often don’t make crystal clear, is that if you make a late payment or your credit score decreases, they can raise your interest rate to as high as 29%. If you have become a victim of the credit card industry and now find yourself with overwhelming balances, you may want to consult with a debt settlement attorney in your area. An attorney that has experience in settling credit card debt can negotiate large reductions in your over-all credit card debt.