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Credit card companies make use of several tantalizing promotional offers aimed to lure people to start using their cards. Many of such irresistible looking low-interest rates offer advertised by credit card companies are sometimes designed to hide several hidden charges on credit cards that can trap the unsuspecting individual in a quagmire of debt. It is always important to read the fine print and fully understand all the charges associated with taking a using a credit card.

One way these companies try to hide hidden charges is by offering you amazing low or even zero interest rates to tempt you to join the bandwagon. Several of this low-interest offers are however offered for a brief period of time usually a few months to a year. After this period, the standard rate will kick in and the unsuspecting user will get more than they bargained for. Always read the fine print to know how long the promotional low-interest rates would last and what the standard interest rate will be after that.

Some cards offer low interest rates but high late fee penalty rates. It is always good to make payments on time, but when you are late even once some cards hit you with high late fee penalty that can be as high as £30 or more and then increase your interest rate dramatically as a penalty. These are factors that would not be mentioned in the adverts when they try to woo you but will be available in the fine print so take the time to read it.