Some credit card companies are still sending out 0% interest rate cards for limited time offers. Make sure you read the fine print.

I was under the mistaken belief when I signed up for a Juniper card, which later became Barclay, that once the 0% rate expired they would then start charging interest on the remaining balance.

But I was mistaken. I had one year to pay off the card. Because I signed up for online statements and automatic payment deductions from my bank, a year passed and I forgot to check when the rate changed. Imagine my surprise when I realized I will have to pay finance charges on the entire original balance. The card was almost paid off. A call to Barclay proved to be of no use. I missed the deadline by a week.

It would have been great customer service for Barclay to send a reminder that the special offer was about to expire. Of course they would have lost the finance charges. Now they have lost a customer. I will never use the card again, nor will I recommend Barclay to my clients and friends.

So the point of this little story is to remind people to keep track of 0% special offers. Read the fine print and write down the pay off date. It’s another one of life’s little lessons I’m still learning, even after being in business for almost 30 years.