What I say on credit cards
You might not be able to start paying off the higher interest charges for months or years, during which they will accrue a healthy sum of interest for the credit card company. Consider this type of promotion only when you want to transfer a large debt onto a card with a lower interest rate, not when you are shopping for a credit card for daily use. When you have winnowed your options down to a handful of credit card application with appealingly low interest rates, take a look at their default interest rate. The default rate is the interest rate you will pay if you make a payment late, run over your credit limit, default on your credit card, or make a number of other credit mistakes. It can be ridiculously easy to trigger the default rate, so even if you are a punctual bill payer, give careful thought to the cards' default rate.