citibank credit card

0 Interest Credit Cards And The Law
There are two types of people who might consider applying for 0 interest credit cards. The first is the person who is desperate to get a low interest rate on a credit card and won’t bother to read the fine print before making an application. The second is the wary consumer who believes that 0 interest cards must come with a catch and so holds off on applying for them even though the absence of interest on debt would be nice. Both of these types of consumers can benefit greatly by understanding credit card laws and how they impact 0 interest credit card lenders.

Credit Card Laws

What many consumers don’t realize is that there is a whole system of laws which control the lending practices of credit card companies. The goal of these laws is to protect credit card consumers. However, credit card companies have found ways to make it so that consumers don’t necessarily know these laws. For example, it is a requirement by law that credit card companies offering 0 interest cards must reveal to you what the interest rate is going to be after the introductory zero interest period runs out. However, credit card companies have the right to insert that information into lengthy pamphlets with a lot of other details in them so it’s only the smart credit card consumer who benefits from knowing this law.