The dos and don'ts of zero-interest credit cards - WMC Action News 5 - Memphis, Tennessee

The dos and don'ts of zero-interest credit cards

(Source: WMC Action News 5) (Source: WMC Action News 5)
(WMC) -

There are lots of offers out there for zero percent interest rates on credit cards.

Recently, many companies offered the rate, sometimes for up to 21 months. 

Citi Simplicity and Citi Diamond preferred cards are the latest to make that offer.

However, experts said every credit card can be zero interest, if you pay it off on time.

Experts don't suggest transferring your balance to a new card.

Credit counselors said this can lead to maxing out your new card, putting you even deeper in debt.

They added if you are getting a new card or applying for the first time, make sure to read the fine print.

Once the 21 months are up, the credit card company will re-evaluate your credit score.

That will determine a new interest rate, which could be only make matters worse.

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