A leading financial website has warned that many credit card companies are offering long interest free periods in the hope that people will spend massive amounts of money and enter significant debt problems.
The 1 Stop Finance shop has warned that people experiencing debt problems should only look to take advantage of interest free credit cards if they intend to use them as a tool for servicing debt, and not for spending further.
A report from the group also warned: "When the 0% interest period is over your rate will rise as you will start being charged the standard APR which can be as much as 15%-18%. So make sure you are aware of what the standard rate will be once the interest free period is over."