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Credit card customers to be attracted by companies with 0% interest rate

[Saturday, November 20th, 2010]

The days of 0 percent credit card deals are coming back to the customers to tempt them to go on a spending spree. With the current economic downturn, it remains to be seen if these kinds of credit card deals can be any good. Those credit card customers who have excellent credit rating or credit score are being flooded with credit card pre-approvals and applications of those cards that offer 0% interest rates. A lot of these offers involve a promotional period of 21 months. The current year has witnessed a downward trend as far as the rate of delinquencies is concerned. According to recent reports from the Federal Reserve, the rate of delinquencies is down by 26% as compared to the previous year. Credit card analysts believe that this will lead to more tempting offers on credit cards hitting the market and credit card customers.

This seems to be a surprise turnaround as the same credit card holders weren`t able to get credit last year. The availability of 0% balance transfer offers as well as the number of people who are qualifying for these credit cards has increased drastically compared to the situation couple of years ago. Lawrence Williamson from Kansas, a licensed attorney works for credit card customers who are facing high debts. According to him credit card issuers do not really care about consumers, but just profits. A Kansas resident who was engaged with the Williamson Law firm carrying more than 20,000 dollars of debt is debt free today. The credit card customer who was stuck with 6 credit cards tried unsuccessfully to cut down on the costs. With the help of Morgan Drexen who provides automated legal documentation to law firms in the country and support Williamson Law firm, the customer became completely debt free without even talking to the creditors. It was the attorneys who got on the phone.

Another resident of Kansas had 32,000 dollars in debt keeping her awake at nights. Financial hardship came about through everyday items and medical bills. After engaging with the Williamson Law Firm, the problems were solved. The attorneys are very helpful and negotiate with creditor. The credit card customer could save almost 20000 dollars on the overall debt. For a lot of other credit card customers across the country, the low interest rate credit cards are not a very sensible option.

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