The Deal With Zero-Percent Interest Credit Card Deals

6:09 AM, Sep 4, 2012   |    comments
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WASHINGTON (WUSA) -- Do you have pretty good credit? The WSJ reports that now's the time to go shopping for a new credit card.

Forty percent of the nation's largest credit card companies are offering some type of a Zero Percent interest deal for new cardholders. Those are called "teaser rates."

Not only are they low at zero percent, this teaser rates are also lasting longer. Back in 2009, they rose after 9 months. Now they are good for an average of 14 months.

You can find other deals, too. A couple companies have no-interest cards, no annual fee AND cash-back rewards of $100. Others are offering airline miles or triple points on gas, groceries and drugstore purchases.

BUT you NEED to pay these bills on time. Late on a payment? Miss a payment? Your rates could explode -- up to 25% -- and that's applied retroactively. There are other scenarios too where you'll wind up paying a lot of money.

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