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Bill Lewis on Zero Percent Credit Card Offers

**Bill Lewis on Zero Percent Credit Card Offers**



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Bill Lewis of William E. Lewis Jr. & Associates on the subject of zero percent credit card offers and how a missed payment can impact not only your interest rate and payment, but your credit score.
we are back on a Saturday morning what a warning as you get ready to start your I'm gonna say this holiday shut it you start right it's never too early to start apparently now when I get the stuff have you started of course every time you go to the store it seems like someone's trying to get you to sign up for their credit card oh the deals the deals can be great of course to start but as NBC's Kerry Sanders tells us if you're not careful that great deal could cost you a pretty penny store branded credit cards are everywhere these days most large retailers now offer their own cars and to entice you to sign up they promote big discounts and tempting rewards but experts warn they're not for everyone if you regularly carry a balanced retail store credit cards are a bad idea that's because many cards have high interest rates according to credit cards calm the average retailers credit card charges almost twenty three and a half percent compared to the national average for all cards of fifteen percent on a thousand dollar balance a twenty three percent rate can really add up it can take you six years and more than $800 in interest to pay that balance off if you make only the minimum payments ChevronTexaco paradise bang Lane Bryant bill Lewis likes credit cards Kohl's really likes the brandsmart discover you have a hundred and seventeen cards 117 why it gets to be sort of a game but as he found out it can be a dangerous game bill bought more than three thousand dollars worth of electronics using a retail store credit card that promised 0% interest for 12 months but he missed one payment a big no-no because the twenty-five and a quarter percent interest kicked in and you wound up with an eleven hundred and sixty-two dollar and sixty two cent interest payment creditcards.com found the highest retail card rate with Zales at almost twenty nine percent in a statement to NBC News Zale says it offers different benefits including a range of no interest plans the vast majority of car holding guests choose the no interest options experts say you should always do the math the last thing anybody should do is get themselves in debt to try and get rewards for today Kerry Sanders NBC News Miami some scary stuff