Zero percent balance transfer credit card offers have become a common promotion method
of credit card companies for acquiring new customers.
In the
eyes of credit card companies, low interest rates are appealing to consumers who tend to carry a balance, thus allowing the issuer to collect interest charges.
The majority
of credit card companies use an average daily balance method to calculate interest charges, which means that your interest is compounded based on your daily balance.
Luckily there are
plenty of credit card companies that realize the need for savings in this area and they've put together cards specifically designed with you in mind.
This week, Rep. Nita Lowey (D - N.Y.), introduced the Small Business Credit Card Act which would protect small - business credit cards from unfair and deceptive practices of credit card companies