If you are organised, it is possible to 'surf' the cards. In other words, you can transfer your balance from one card to the next in order to benefit from each card's introductory rate.
usual interest rate: what is the rate of interest charged following any introductory rate? Interest rates vary dramatically. As at June 2001, the standard APR (Annual Percentage Rate or Annual Payback Rate) on offer varies from 8% to 29.8%.
interest free period: does the card offer an interest free period? Most cards only charge interest from the statement date. Others calculate interest from the date of the transactions you make. What is the maximum interest free period? In most cases this is 56 days.
cash withdrawals: the interest rate charged for 'cash advances' is normally far higher than the rate that applies to new purchases or transfers. If you tend to use your credit card for cash advances, what interest rate will be charged?
Also, bear in mind that interest is charged from the date of the cash advance. No interest free period applies for cash advances, otherwise you would be able to borrow interest free indefinitely by using two cards and withdrawing cash on one to pay the other each month!
balance transfers: most credit cards allow you to transfer a balance from one or more other credit cards. What is the interest rate applied to these balance transfers following any introductory period? You should only transfer a balance if it means you will pay less interest.
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