1. 1 Before the Credit CARD Act of 2009, the credit card companies would apply any payments to the 0% interest rate. The 19.9% or 24.9% balance would not be touched until after you paid off the 0% money! Now, the company must apply any amount over the minimum payment to the highest interest rate balance.

2. 2 Here, the 3.99% interest rate on balance transfers is not a “teaser rate.” However, any purchases would be at the 18.9% or 22.9% rate and, again, would not be affected until after the entire balance transfer was paid off.

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4. 4 Signature for credit protection Signature for credit account application They want you to get confused and sign the first one as well as the second!

5. 5 What is my interest rate? You won’t know until after you signed!

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7. 7 Would you pay to apply for a credit card?

8. 8 What?! You’re going to penalize me for missing a payment to some other credit card?! Thankfully, this was outlawed in the new credit card legislation.

9. 9 Recently, the solicitations have been far more advantageous to the consumers (at least the ones I have been receiving). The competition must be getting stiffer for good suckers, uh, suitable hosts, oops!, I mean customers!

10. 10 How are they making their money with the 0% balance transfer interest rate offers? They are charging you an upfront fee of up to 5% on the balance transfers. Several years ago, they did not charge this fee. This allowed many people to borrow the money at 0% and then get 3% in a CD. Of course, CDs are paying almost nothing now so this strategy no longer works.

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12. 12 Now, here is a pretty darned good offer. 0% for purchases for the first year plus enough “bonus points” to get a free airline ticket once you make $500 worth of purchases within 90 days. Is this enough of an incentive to acquire and use the card? You have to decide. But remember, the credit card companies are hoping that you will not pay off the balance within 1 year. If you don’t, KA- CHING!

13. 13 Look at the foreign transaction fee! 1% is typical and some credit cards do not assess a foreign transaction fee. (Example: Capital One)

14. 14 No Comment.