Low interest credit cards explored
The first tip is to ignore the huge, sparkly "0 percent interest" printed in bright red and gold letters on the front of the brochure. That's nothing but an introductory rate. After a short period, usually just six months, it ends, and now you have to pay the credit card's real interest rate. Student credit cards typically have somewhat higher rates, currently running from about 13 percent to about 20 percent, with default rates that shoot up to about 25 to 31 percent if you pay a bill even a day late. This change in interest rate is retroactive, meaning that even if you bought something when your interest rate was 0 percent, you will have to pay 13 percent (or 20 percent, or 31 percent) on it until your balance is paid off.