Many credit card offers are attractive because they promise to be a 0% credit card. What this basically means is that money is borrowed without accumulating interest. This would be the ideal for any borrower, except a lender must eventually charge interest or some manner of transaction fee in order to stay in business. It is always the case that a 0% credit card is merely an introductory offer, and the regular rate may very well be something to be appalled at.
For this reason, it is foolish to borrow heavily on an introductory rate, which might only last for six months. It is an excellent idea to be sure of the exact deadline. Low introductory rates exists to encourage borrowers to open an account, and also to spend money before interest begins to apply. As it is for many persons, they overestimate their ability to repay and end saddling themselves with more debt than can be immediately repay. This is how short term lenders make their money.
A 0% credit card can also be a way to escape an existing debt circle, by paying off one account and applying existing debt to a new card. While the debt is shifted to another introductory rate, it provides temporary relief that might help a borrower fight back against the rising tide of “variable rate interest.” This brings to mind one additional problem, that short term lenders sometimes manipulate their limits and apply fees in order to draw more revenue.
For all the risks associated with credit cards, and with regular interest rates that might exceed 20 percent, it is most intelligent to avoid borrowing except to fix temporary emergencies. Maintain a balance far below the maximum, both to escape the interest trap and as a safety against fluctuating bottoms.