Chicago Consumers Should Weigh Rewards, Risks of New Credit Card Offers
If you've checked your mailbox lately, you probably already know that credit card companies are pulling out all the stops to lure new customers in 2011. But are the latest credit card offers worth it?
Following a period of tighter credit, credit card offers nearly doubled in 2010, according to a recent market study. On the one hand, banks are sweetening those offers with a wider variety of rewards cards and low-fee balance transfers with 0% introductory rates. And of course, consumers stand to benefit from recent legislation that did away with things like surprise interest rate hikes and unfairly high fees.
On the other hand, a credit card is just that - a credit card. And opening a new account could ultimately result in the same old trials and tribulations, caution Chicago bankruptcy attorneys.
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